What’s Driving Consumers Towards the Auto industry in 2022?

BY Adam Ambro
Featured image for “What’s Driving Consumers Towards the Auto industry in 2022?”

With Q4 officially here, it means automotive companies need to start pushing their 2021 inventory out the door to make way for the new 2022 models. It’s about time to start hearing the usual auto industry slogans like “December to Remember,” “Year-​end Sales Event,” or something to that effect. With the used car market seeing record growth, and the new car market looking strong, it’s a great time to reach out to your auto industry advertisers and help them end the year strong. With Deloitte’s 2021 Global Automotive Consumer Study now available, you’ll be able to do just that.

Understanding the changing auto industry

Deloitte has been conducting their consumer study for over ten years. In that time, they have seen consumers’ thoughts and opinions shift all over different aspects of the auto industry including: peaks in interest of “cockpit technology,” hybrid vehicles due to cost efficiency, consumers wanting to move away from combustible engines and consumers both interested in autonomous driving cars in 2017, to consumers wanting to “pump the brakes” on autonomous driving cars in 2019.

Having conducted the auto industry consumer survey in the fall of 2020, during the heart of the COVID-​19 pandemic, Deloitte found that, this year, consumers had the “intention to buy a gasoline or diesel vehicle, as consumers may be looking for the comfort of affordable, tried, and tested technology in uncertain times.”

In the United States:

  • 74% of consumers were looking for a gasoline/​diesel fueled car
  • 16% wanted to shop for a hybrid vehicle
  • 5% were looking for a battery electric vehicle
  • 5% wanted “other”

You could use this research and compare it to AdMall’s AudienceSCAN profile for Diesel Car/​Truck Shoppers, powered by SalesFuel. In our consumer survey of over 19,000 U.S. adults, we found that 15.3% of US adults who plan to purchase a new vehicle are considering a diesel-​powered car/​truck. Being able to show your advertisers multiple research sources that align is a great way is a great way to show you’ve done the work and are trustworthy in your approach.

Importance of safety and financing

Another aspect your auto industry advertisers could focus on is safety. According to Deloitte, that was top of mind for consumers going into next year. Broken out feature by feature, here’s what shoppers are looking for:

  • 70% — Blind spot warning/​alert system
  • 60% — Automatic emergency braking
  • 59% — Lane departure warning
  • 59% — Built-​in navigation system
  • 56% — Physical knobs/​buttons for controls

AdMall’s Automotive Intelligence reports give you more insight into the style, design and features that shoppers want to see for each major brand.

When it comes to financing, and understanding financing options, consumers are doing very little research before going to a dealership. Here’s an opening to help your advertisers promote their financing options.

  • 32% — do no research
  • 20% — under 1 hour
  • 20% — 1 to 3 hours
  • 15% — over 5 hours
  • 13% — 3 to 5 hours

For auto industry consumers in the United States, 43% of consumers who are shopping for a new car say that the best rates are the biggest financial factor for them. 33% were looking for “convenience” and 29% were looking for easy pay process/​auto-​pay.

Of importance in Deloitte’s survey, 66% of consumers who are shopping for a new vehicle said that the COVID-​19 pandemic has not altered their plans for purchasing a new car. Therefore, one strategy to approach your advertiser with could center around their gasoline fueled trucks that have multiple safety features, along with simple tools for understanding their financing programs. Whatever you come up with, the auto industry is poised to have a great year in 2022, with no signs of overwhelming consumer fear at the moment.

Photo by Anthony Shkraba from Pexels