Book Online or Call 1-855-SAUSALITO

Sign In  |  Register  |  About Sausalito  |  Contact Us

Sausalito, CA
September 01, 2020 1:41pm
7-Day Forecast | Traffic
  • Search Hotels in Sausalito

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Two-Thirds of Consumers are “Sustainability-Minded Drivers,” Accenture Report Finds

Carmakers should act fast to respond to consumers’ desire for more sustainable mobility

Nearly two-thirds of consumers are “sustainability-minded drivers,” rating themselves as very or extremely environmentally concerned, which will require automakers to evolve their offerings to meet increased demand for automotive sustainability, according to a report by Accenture (NYSE: ACN).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210922005102/en/

The Accenture report “Busting automotive sustainability myths” looks at the key challenges for car manufacturers now and in the future in relation to the rise of sustainable and digitized mobility (Photo: Business Wire)

The Accenture report “Busting automotive sustainability myths” looks at the key challenges for car manufacturers now and in the future in relation to the rise of sustainable and digitized mobility (Photo: Business Wire)

Based on a survey of 8,500 consumers from the U.S., China, and eight countries in Europe, the report, “Busting automotive sustainability myths,” looks at the challenges facing automakers considering the demand for sustainability and digitization related to mobility. The report is part of Accenture’s “What digital drivers want” series.

A key finding: Sustainability is no longer a secondary concern for car buyers and drivers. Not only are 64% of the respondents sustainability-minded drivers, but most prefer that their next vehicle be a new-energy vehicle (NEV) — i.e., battery electric, hybrid electric, natural gas, plug-in hybrid electric, flexible fuel or fuel cell electric. They don’t want new vehicles with internal combustion engines. And it’s not just sustainability-minded drivers who would prefer an NEV for their next vehicle, as more than half (53%) of less-sustainability-minded drivers also say they would prefer NEVs.

The report also showed that no brand is perceived as the undisputed leader for the best sustainability concept globally. In fact, nearly as many drivers believe that BMW or Audi has the best sustainability concept (11% each) as believe that Tesla does (12%). In many cases, respondents were more likely to pick automakers based in their home markets as having one of the best sustainability concepts — so Americans lean toward Teslas and Europeans toward BMWs and Audis, for example. Even in service and repairs, more than one-quarter (28%) of sustainability-minded drivers don’t have a clear preference for a brand with the best sustainability concept.

“Despite popular belief, the race for becoming — and being seen as — a sustainable car brand isn’t over yet,” said Axel Schmidt, a senior managing director at Accenture who leads its Automotive industry practice globally. “The market for electric vehicles was the only significantly growing segment in 2020. Drivers are ready for sustainable mobility, but there are still some hurdles, starting from the charging infrastructure to the still relatively high price per kWh.”

In sustainability, the brand takes a back seat

Sustainability-minded drivers are not committed to a particular brand. In fact, 97% of them would change brands for a more-sustainable vehicle, and 99% would do so for greater sustainability in service and repairs. The report notes that automakers that fail to compete for the hearts and minds of sustainability-minded drivers — i.e., by not making the necessary sustainability investments — will lose customers to competitors that have shown a stronger focus on and commitment to sustainability.

“Drivers are increasingly challenging long held beliefs amongst many top executives and marketeers in the automotive industry that consumers would never be willing to pay a premium for sustainability,” said Peter Lacy, chief responsibility officer and global sustainability services lead at Accenture. “In one of the most disrupted industries globally - in the face of connected technologies, electrification of transport and autonomous vehicles - embracing and helping sustainability minded-drivers translate their values into their purchases is and will be a major competitive battlefield for the future.”

Drivers will pay a premium for sustainability

Among the many automotive myths the report busts is that most drivers are very price-sensitive and won’t pay more for greater sustainability. The report finds that sustainability-minded drivers are not only willing to switch to NEVs but would pay a higher price for a “sustainable vehicle.” For instance, 30% of sustainability-minded drivers are willing to pay 1% to 5% more for a sustainable vehicle, with an additional 60+% willing to pay at least 6% more — including 4% who, surprisingly, say they would pay 25% more.

Sustainability-minded drivers are also willing to accept certain other trade-offs for a sustainable vehicle, with more than six in 10 willing to accept a car with a less-attractive, more-functional design (63%) or a car with reduced performance (62%). In other words, sustainability-minded drivers are willing to accept trade-offs on factors that many in the automotive industry believe are critical, non-negotiable purchase criteria.

For more information and to view a copy of the report, please visit: Accenture.com/AutoSustainabilityMyths

About the Research

For this study, Accenture surveyed a diverse and randomized group of 8,500 customers from seven countries: China (2,500), the U.S. (1,000), Germany (1,000), the U.K. (1,000), France (1,000), Italy (1,000) and Norway (1,000). The online survey was structured, conducted and analyzed along the dimensions of (1) [driver] demographics; (2) vehicle sales; (3) vehicle service and repairs; and (4) connected services. In this regard, the group of sustainability-minded drivers with significantly more significant concern for ethical and environmental standards could be identified and differentiated to participants, who are less sustainability-oriented. We also integrated our automotive industry expertise and project experience to introduce case studies of leading automakers that, in our view, can be considered best practices for certain aspects related to sustainability.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 569,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.

Copyright © 2021 Accenture. All rights reserved. Accenture and its logo are registered trademarks

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photos copyright by Jay Graham Photographer
Copyright © 2010-2020 Sausalito.com & California Media Partners, LLC. All rights reserved.