The driving factors behind automotive purchases in the era of sustainability

There is growing interest in sustainability and green vehicles. Are customers truly moving away from gas-fueled vehicles in favor of EVs and sustainability?

The automotive industry may be more nuanced than most given the ubiquity and variety of vehicles. However, consumer purchasing behavior still follows observable trends as with any other sector. This remains true even as the narrative in the automotive space shifts towards sustainability, given the inevitable proliferation of EVs.

The results from our Global Sustainability Study reaffirms this notion. When isolating for income, age, and gender demographics, traditional value drivers (e.g., price, reliability, quality, functionality) reign supreme, while sustainability related factors emerge as secondary concerns. In fact, the bottom two value drivers for auto purchases overall are environmental sustainability and promoting a positive green image. Even when consumers were asked to rank the importance level of…