European Consumers' Awareness and Perceptions on Cost of Ownership and Its Impact on Purchasing Decision

Abstract

This study aids in understanding the customers' perception and attitude toward vehicle cost of ownership parameters and also in evaluating the importance of different parameters considered by customers during vehicle purchase. The study helps in -Identifying relative importance of cost of ownership vis-a-vis vehicle performance and functionality, features, price, safety, driving dynamics, and comfort & convenience in the overall buying decision. -Identifying differences in perceptions, attitudes and importance of the cost of ownership across regions, vehicle segments and socio-economic characteristic. The findings in the study would definitely assist OEMs in prioritising cost of ownership parameters.