While buying an automobile we come across a plethora of reasons and issues that guide our buying decision. More interestingly, these variables keep changing and evolving with the passage of time. Automotive manufacturers keep a close eye on the prevalent trends and preferences in the market as guidelines for the development of future cars. As an individual car buyer, it is always helpful to consult the collective wisdom of prospective buyers before making car buying decisions.
Keeping in view of the above, 2015 Initial Quality Study: 10 Most Important Factors in Vehicle Purchase 2015 Initial Quality Study: 10 Most Important Factors in Vehicle PurchaseJ. D. Power conducted an Initial Quality Study in 2015 for the 10 most important factors in vehicle purchase. More than 84,000 vehicle owners were consulted for the survey and following are the top 5 factors valued by them before making car buying decisions:
Reliability
This is the most important factor considered by the car buyers before making their car purchase decisions. 50% of the respondents cited ‘expected reliability’ as their most important purchase reason. This indicates the growing concern among customers about the dependability of their cars, as the number was 49% in 2014.
Exterior Styling
This comes as the second most important reason currently being considered by the car buyers in their car purchase decision making process. 45% of the people surveyed mentioned it the top reason for car purchasing. So, styling does matter for the car buyers, as they prefer nice looking cars and tend to buy them more often.
Previous Experience with a Brand or Particular Model
Now we know what sustains the Toyotas of our world. People tend to show loyalty towards their previous brands and particular models. 42% of the interviewed car buyers responded with previous experience as the most important reason dictating their car buying preference. If a brand somehow manages to win customer support and choice, it stands assured of long term sales for its future models in today’s automotive world.
Fuel Economy or Driving Range
This is another interesting aspect of this study. It is widely perceived that environmental concerns and regulations are currently driving the fuel economy trends. Notwithstanding the recent plummeting of the fuel prices, 37% of the survey respondents still consider gas mileage as their top priority while considering different options for their new cars. The number has declined by a percentage point as it was 38% in 2014 but the trend seems to be still going very strong. Elon Musk should be getting very pleased and might even be smiling right now.
Reputation and Reviews
This is the fifth highest ranked factor influencing car buying decisions. After all, we are social beings and are mostly swayed by our environment. 40% of people consider reputation and reviews as the top reason for making their car buying decisions. People tend to consult their peer group and family about their car buying preferences. Moreover, this is music to my ears as the internet and technology revolution has facilitated the automotive information influx through reviews and dedicated car websites. People do take us seriously!