Consumer Insights: Uncertainty and Trust in the Automotive Industry
For the average consumer, buying a car is hardly a decision that’s taken lightly. These days, there are more factors than ever for car shoppers to mull over before signing on the dotted line, whether that’s car design, mileage, or the manufacturer’s brand reputation.
On top of these more straight forward metrics, consumers have a tendency to factor global current events into their purchasing decisions.
Consumers care about manufacturers' online reputation
In an age characterized by shifting geopolitical climates, a booming sharing economy, and the engrained desire to share and read about others’ product and service experiences, what will become of the automotive landscape?
And how have events like Brexit and the U.S.-China trade war impacted consumer trust in the automotive industry?
To find out, we analyzed production and trade trends from around the world and surveyed more than 1,000 people from the U.S. and the U.K.
We learned that while there’s little that automotive manufacturers can do to predict or control the events that shape our economies, car companies can take back some control over their reputations by making the most of online reputation management tools and showing potential customers the information they need to choose a car with confidence.
These days consumers won’t make even a trivial purchase without reading the product reviews — large purchases like cars are no exception to this new step in the buying journey.
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