Global: Attitudes towards car ownership
The rapid increase of vehicle subscription services like Cazoo and Wagonex suggests there is appetite among consumers to enjoy the benefits of driving without the burdens of car ownership. But how big, exactly, is this potential market?
Taking a quick look at Hong Kong, France, Britain, the US, and Australia reveals a substantial minority of drivers agree that they do not want to be locked into owning a vehicle because their needs may change. The proportion is highest in Hong Kong, where two in five drivers (39%) say they’d prefer more flexibility, followed by a third of French drivers (33%), a quarter of British drivers (23%), and a fifth of US (22%) and Australian drivers (18%).
Amongst British drivers seven in ten (73%) own at least one car, with 25% not owning any vehicles at all. But even if they would prefer not to own these cars, majority among this group of drivers has little knowledge of car subscription services – two in five (40%) aren’t aware of them at all, and nearly as many (37%) say they are aware of them but don’t know much about them. Just a fifth (20%) say they know what a car subscription service is. There is a lot of opportunity in Britain, and in other countries where knowledge of these services is lacking, to ramp up marketing to consumers who are keen to have less long-term financial commitment of car ownership but still want to drive.
Methodology
YouGov Profiles is based on continuously collected data and rolling surveys, rather than from a single limited questionnaire. Profiles data is nationally representative and weighted by age, gender, education, region, and race. Learn more about Profiles.
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