The Automotive Retail Forum promoted by ACAP was the stage for the presentation of the study “Consumer Insights – Trends of the Portuguese consumer in the acquisition and use of automotive products and services”, developed by the Portuguese Automobile Association, which sought to outline the profile of the national consumer.
The study, based on a survey that took place between November 13 and December 12, 2023, obtained a total of 6048 responses, allowing, for example, to determine that 40% plan to buy a vehicle in the next two to three years.
New vehicles are the preference of 50% of respondents, followed by used vehicles with 30% and used vehicles are an option for 20% of respondents.
Regarding the type of vehicles, 70% of the respondents who stated that they want to buy a new vehicle intend to buy an electric or hybrid vehicle.
Although electric mobility is preferred by the respondents, the study reveals that the maximum value that respondents are willing to pay for an electric vehicle is no more than €28,550.
The ACAP study also concluded that four out of 10 people in Generation X (between 40 and 60 years old) plan to buy a vehicle in the next two to three years, while two out of 10 plan to make the purchase within a maximum of one year. The majority (60%) of people in this generation want to buy a new vehicle, 30% plan to buy a semi-new vehicle, and 10% a used vehicle.
Among the criteria for choice of Generation X are price and technology, proximity to dealer/workshop, and maintenance price. The study also found that 40% of consumers in this generation buy directly on the manufacturer’s website and 40% at a dealer.
In the case of millennials (25-40 years old), four out of 10 intend to buy a vehicle in the next two to three years and one out of 10 wants to buy within one year. Of these, 30% want to opt for a new vehicle, 40% for a semi-new vehicle, and 30% for a used vehicle.
When it comes to buying, millennials value price, energy efficiency, and maintenance price. More than half (60%) of the respondents in this generation buy directly on the manufacturer’s website, 30% at a dealer, and 10% at an online retailer.
The study revealed by ACP also pointed out a set of recommendations to the sector, such as the “development of a customer-centered operating model, investing in the transformation of data into knowledge, and exploring strategic alliances with different partners”.
