There’s nothing quite like the freedom of owning your own car. Having the ability to get from point A to point B without having to rely on anyone or public transportation creates feelings of both independence and pride. People are passionate about car ownership—whether new or used—and findings from Nielsen show how this passion will drive auto sales across the globe.
Affordability and need are central to the automotive purchase decision-making process, but changing population trends, rising wealth accumulation and growing aspirations are also helping to fuel new demand. This expansion represents good news for automakers, but understanding the motivational factors driving this demand is critical to reaching the right consumers for your products.
According to Nielsen’s global online survey of automotive purchase intent, 65 percent of respondents across 60 countries plan to buy a new or used car in the next two years.
New car purchase intent is strongest in Asia-Pacific, where 65 percent of respondents say they will buy new, compared with only 7 percent that plan to buy used. In the region, this new car demand will be driven by consumers in India (77%), China (76%), Thailand (68%) and Indonesia (63%), where the expectation to buy is highest. While new car purchase intent also dominates in Latin America, Middle East/Africa and North America, the ratios of new to used car purchase intent in these regions are smaller. Meanwhile, in Europe, more respondents plan to buy a used (28%) rather than a new car (22%) in the next two years.