Nail McKinsey’s recent research studied how the automotive market is responding to the crisis caused by the pandemic. The world of motor vehicles has been at a standstill for some time without significant growth in sales and trips with mobility services. In the current year however consumers have started buying cars again, but they do in another way. And little by little, people are returning to the streets, by car or by other means.
The automotive and mobility industry has certainly been among the hardest hit during the COVID-19 pandemic. However, the picture is improving. Car dealerships are becoming more and more popular and many of them are trying to have more cars in their inventory for sale to meet the needs of all consumers.
The mobility of public services overall, increasing steadily, but not to pre-COVID-19 levels.
The use of shared mobility services and public transport is experiencing a significant recovery, but in some regions employers are accepting the practicalities of working from home for their commuter workers, resulting in a slow resumption of commuting.
The OEM (Original Equipment Manufacturers) automotive, auto dealers and government officials analyze how long it may take for the full market recovery to take and what the next economic “normal” of this sector. The studies carried out analyze states such as: the United States, the United Kingdom, Germany, France, Italy, Japan and China, in which the mobility behavior of their citizens and projects are analyzed. relating to the purchase and maintenance of cars.
Some data on services and the purchase of cars
Globally, consumers’ intention to buy cars is near pre-COVID-19 levels, fueled by positive prospects in the United States and China:
- THE’plan to buy new and used cars over the next 12 months, it is almost back to pre-COVID-19 levels (94% new cars from pre-COVID-19 levels and up 7% from September 2020; 97% of used cars compared to before COVID-19, up 1% from September 2020).
- There is a significant increase in the intention to purchase of electric vehiclesi, especially in Europe and China, motivated by government incentives and a big sustainability awareness.
- Potential buyers are less likely to want to interact with sellers at car dealerships. This decline in preferences is decreasing in all regions and age groups, in particular for consumers between 55 and 70, who now consider thebuy an alternative online relevant to the dealership visit with the dealers.
- Interest in buying cars entirely online remains stable at 59% globally with regional variations.
- The outlook for after-purchase car services continues to improve. In recent months, more and more customers have benefited from maintenance and repairs.
- About 51% of respondents say they do want to travel less compared to before the COVID-19 pandemic. However, mobility is gradually picking up and at varying rates, with a faster recovery in the United States.
- Regular use of public transport has increased significantly since the end of 2020. Shared modes of transport (especially micro-mobility services) are now above pre-COVID-19 levels.
- Public transport and shared mobility modes are considered to be more (or less) safe from COVID-19 infection.
- The frequency of home-work trips it recovers at different rates from one reason to another.
- Respondents are broadly in favor of greener mobility infrastructure. Almost half (49%) indicate that the “green” initiatives should be amplified e accelerate.