Consumers Want In-Vehicle Technology, but Willingness to Pay for It Varies, IHS Markit Says

A new global survey on consumer preferences for automotive technology finds more consumers desire advanced technology in their next new vehicle. However, their willingness to pay for technology demonstrates a wide variety of viewpoints from consumers across leading global markets, says the survey from business information provider IHS Markit (Nasdaq INFO).

More than 5,000 vehicle owners intending to purchase a new vehicle within the next 36 months were surveyed in the 2017 Automotive Connected Services and Apps Consumer Analysis, representing five key automotive markets – the U.S., Canada, China, Germany and the United Kingdom. This is the fifth annual survey of its kind from IHS Markit and identified key attributes for consumers, providing insight into preferences, desires and future interest as new vehicle intenders return to market.

“This year’s survey includes consumer input on 31 technologies, from a variety of viewpoints,” said Colin Bird, automotive technology analyst for IHS Markit and co-author of the report. “Suppliers and automakers alike will be able to use these findings to help drive future business decisions and technology investments, while determining future product offerings.”

Creature comforts trump other technologies when cost is involved

Interestingly, creature comforts topped consumers’ interests at the top of the list of technologies those surveyed would be willing to pay for. Consumers in four regions reported the highest propensity to invest in sunroof-moonroof technology in their new vehicle, with consumers in Germany willing to spend an additional $642 USD to have their next new vehicle equipped with one. Consumers surveyed in China agreed to pay $440 USD for similar technology.

Alternatively, consumers in the US were most likely to pay for a …

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