FOR INTERNAL USE ONLY Use of Information The content for this report is FOR INTERNAL USE ONLY. It may not be shared externally in its current form. Please contact the email below if you would like to utilize content form this report outside of Cox Automotive as it may require Legal approval. [email protected] ® 2016 Cox Automotive Proprietary & Confidential. For internal use only. 1 2016 Car Technology Influence Study Abstract January 2016 ® 2016 Cox Automotive Proprietary & Confidential. For internal use only. 2 The 2016 Car Technology Influence Study measures the importance of in-vehicle technology on vehicle consideration and identifies what features are most desirable. Vehicles Are Part of the “Internet of Things” 52% It is important that their car syncs with all other technology in their life 46% Expect their vehicles to do all the things a smartphone can do Nearly 7 in 10 Millennials Nearly 6 in 10 Millennials (vs. 57% Gen X; 38% Boomers) (vs. 56% Gen X; 37% Boomers) Consumers Are Open to Tech Companies Entering Automotive All generations except Pre-Boomers prefer generic technology versus OEM proprietary systems. 57% Would rather see better smartphone integration through a generic system that would be available in vehicles from all manufacturers (i.e. Apple Car Play) Consumers Choose Safety Over Infotainment What is more important? 87% Vehicle with Advanced Information and Entertainment Features Vehicle with Advanced Safety Features 13% Over 1/3 of Millennials would pick infotainment features over safety ® 2016 Cox Automotive Proprietary & Confidential. For internal use only. vs. Infotainment Features Safety Features 29% 39% Selected as a “must have” 53% 62% Willing to pay EXTRA Source: 2016 Autotrader Car Technology Influence Study 3 Consumers Are Willing to Wait For “Must Have” Features 6 in 10 have at least 1 “must have” feature they are willing to wait for % 51 Willing to wait 6 months or more if it meant getting all the “must haves” Consumers Have a High Interest in Emerging Safety Technology High Interest / High Availability 1. 2. 3. 4. 5. 6. 7. 8. 9. Standard Cruise Control Backup camera Diagnostics alerts USB charging port Bluetooth Backup sensors Steering wheel controls Keyless entry Device integration via USB High Interest / Low Availability Expected Features 1. 2. 3. 4. 5. 6. Blind spot detection Forward collision avoidance Automatic crash notification Lane change assist Forward collision warning Mobile WIFI Emerging Features Usability of Features is Not as Important as their Availability % 65 Would switch to another brand if the vehicle being considered did not offer the desired tech features % 30 Would switch to another vehicle if the technology in the one being considered was difficult to figure out Consumers Want More Time In Test Drives To Learn Features 57% Think it should take 30 mins or more to learn all of the new features in their next vehicle Preferred Way to Test Features Take the vehicle home overnight 39% More time in the vehicle in one session 29% Have more than one test driving session 17% Features simulated on interactive website 13% Source: 2016 Autotrader Car Technology Influence Study ® 2016 Cox Automotive Proprietary & Confidential. For internal use only. 4 Consumers Feel Autonomous Features Make People Better Drivers 70% Autonomous Features Will… Make people better drivers Likely to consider a vehicle with autonomous features during their next purchase % 41 Make people worse drivers % 35 However, Consumers do not Fully Trust Autonomous Vehicles % 60 66% Agree with… Disagree with… “Self-driving vehicles are a dangerous idea” “I would trust a selfdriving vehicle” 2/3 Would still watch road even though they would not be driving Top Concerns % 66 Safety consequences % 65 Vehicle decision making in unexpected situations 61% Vehicle software malfunctions/ failures Young Millennials Are Most Positive About Autonomous Vehicles Opinion of Self-Driving Vehicles Positive 31% Negative vs. 36% 43% of 18-24 year olds are positive Comfortable in Self-Driving Vehicle Comfortable Uncomfortable 29% vs. 47% 45% of 18-24 year olds are comfortable Research Methodology The goal of the 2016 Autotrader Car Technology Influence Study is to better understand attitudes, needs and wants for various types of in-car technology. AutoTrader conducted a 20 minute online quantitative survey among 1,012 US licensed drivers age 18+ in September 2015. Source: 2016 Autotrader Car Technology Influence Study ® 2016 Cox Automotive Proprietary & Confidential. For internal use only. 5
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