Asahi Kasei Survey: Declining Brand Loyalty and EV Adoption Hurdles

Asahi Kasei’s latest global car user survey delves into the dynamics of brand loyalty and purchasing behaviors.

Asahi Kasei’s latest global car user survey delves into the dynamics of brand loyalty and purchasing behaviors across Germany, the United States, China, and Japan. The survey reveals that brand loyalty is weakening worldwide due to intense competition, emerging manufacturers, and evolving consumer needs. More than half of the car users in Germany and the USA plan to switch brands for their next purchase, with a staggering 79% in China willing to try a new brand. This trend is particularly pronounced among Generation Z, who show the least brand loyalty. To reignite brand loyalty, manufacturers need to better understand and meet customer needs. Common frustrations among car users include poor fuel efficiency, insufficient storage space, and excessive noise, which drive their motivation to switch brands, particularly for quality and running costs. In China, the desire to try something new, especially premium brands, is a significant motivator. Established premium brands are gaining market share over volume manufacturers in China, emphasizing the importance of brand image.

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The survey also highlights the technological barriers hindering the adoption of electric vehicles (EVs). Despite governmental incentives, improved technology, and expanding charging infrastructure, the willingness to buy EVs has remained relatively stable since 2020, with only slight increases in China and Germany and a notable decrease in the US. High costs and the phase-out of subsidies are major deterrents. To boost acceptance, further advancements in battery performance, lifespan, and safety are essential. Driving range is the primary concern for potential EV buyers in Germany, while battery lifespan is crucial for US respondents. In China, improved safety features are a top priority for non-EV owners. These insights underline the need for continuous technological innovations to persuade consumers to transition to electric vehicles.

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