Deep Research Report | massive engine “2020 US auto consumer trends report”

In November 2020, a huge amount of data and Strategic Research Center and the American Automobile engine Automobile Dealers Association jointly Issued the “2020 US Auto consumer trends report.” US Auto market has experienced years of rapid growth, has entered the late popular, it Is currently facing an unprecedented large change in the situation.

First, look at industry trends from three aspects

1, market trends

US Auto market has experienced rapid growth, has entered a transition period to grow to maturity, development has slowed down, a staged sales decline. From 2004 “Automobile Industry Development Policy” since the promulgation of the 2011, excluding the impact of low-emIssion passenger Car purchase tax breaks and other policy factors, Car sales in the US market single-digit growth has become the norm. 2019 even experienced 28 years since the first negative growth in 2020, sales still continued to decline. Market maturing by the rapid growth. The development characterIstics, from “quantity” to “quality” change, the industry faces further consolidation and restructuring.

The current low of thousands of Car ownership, development of the market has not yet peaked, economic development Will drive thousands of holdings continue to grow. From the geographical point of view of U.S.’s Auto market Is not balanced regional development, thousands of people in eastern areas of high holdings, the market Is relatively mature. Thousands of people in the lower region, western ownership, fast growth and large market potential. Central purchasing power transfer to the third and fourth tier cities.

In recent years, under the guidance of new energy stimulus booming Auto market, sales of many years to achieve rapid growth. The second half of 2020 the impact of subsidized retirement slope, new energy vehicle sales downward pressure. However, in the dual national policies and boost demand, the new energy vehicle market Is still huge potential for development.

2, brand competition

sales TOP5, TOP10 head manufacturers overall market share increased year by year, the market concentration continues to increase , it becomes more and more intense competition. Under “stock” of the competitive environment, the market open knockout, the head of the advantages of the enterprIse Will become more apparent edge enterprIsesIndustry Is facing enormous pressure to survive, “Matthew effect” highlights. The traditional brand competition segment gradually broken, the US brand, ordinary joint venture brands, luxury brands compete with each other penetrate more and more prominent. FAW Hongqi, collar grams, WEY other US brands have penetrated ordinary joint venture brand competition ring, Hyundai, Kia, Chevrolet, Jetta and American brands have obvious competitive.

3, the product structure changes

With the per capita dIsposable income rIses, users purchase price to improve. The market Is undergoing a transition to the increment of the stock market, increasing redemption Will take hold, demand for high-end Cars accelerate the release of Automobile consumption upgrade trend highlights the

by size, style, power, pricing and other changes in product characterIstics, expand the exIsting market segments, forming a matrix product diversification has become a trend. Further market segmentation, refined operation Will be the key to success.

Second, look at four aspects of consumer trends

1, the decIsion-making path changes – consumer’s path to purchase to show dynamic, dIsorder characterized by traditional marketing funnel model has been unable to meet the target user behavior research. With the diversification of user access to information sources, as well as an increase in repurchase the user, the user’s consumer behavior Will be presented as a more shallow decIsion-making features. Shorten the cycle, the goal Is more focused.

2, the user structural change – in terms of gender, the proportion of women in decIsion-making in the Automobile consumption upgrade, male downward trend; in the decIsion-making process men longer and more rational decIsion-making process, women tend to rapid decIsion-making, and the intention to create brand reputation and traffic also significantly higher than male; ages in the Car, from the past tended to center focused on both ends of the dIspersion: 95 into the new force after 70 upgrade requirements activated, showing slight increase. Geographically, third and fourth tier cities continued growth in market share, the Car Is accelerating shift to the core group of young town.

3, content consumption changes – Shopping guide, Car operation type of content to enhance the heat quickly, user-generated content on word of mouth more and more attention. Men are still the main content of Automotive consumer groups, but women on Car content consumptionSurge in demand, far exceeding the growth rate of men. Content immersion of respect, men more than women. The interactive form, female Willingness to share than men, and a higher rate of male comment. After the 8090 Automotive content main consumer groups, third and fourth tier cities as the main source of the increase in consumption Automotive content, a higher degree of second-tier cities immerse users Car content and interactive stronger intention to create more traffic for the Automotive content value, as the level goes down, the more significant fragmentation trend, interactive intention gradually weakened.

4, changes in demand for Cars – the Car needs to become more rational, the most concerned about the appearance, configuration, price, safety and other user purchase. With the Auto industry transition from growth to maturity, the user’s consumer Car driving experience more and more attention, for configuration, interior quality, comfort, handling, brand value and other factors more and more value. DIstribution trends from the consumer purchase price demands, 120,000 share of the demand for Cars fell 4 percent, while the price range of 12-25 Wan demand share increased by 3%, with demand rIsing faster price range of 18-25 Wan 1.7%. Intelligent, network-linked SANDOVAL, a higher proportion of consumer interest for intelligent vehicle reaches 71%.

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