Top Automotive Market Research Company
Today’s automotive market is no longer just about building cars; it’s about understanding consumers’ deep, ever-changing needs, predicting market shifts, and embracing emerging technologies.
As a top automotive market research company, we have been fortunate to partner with some of the best-known automotive brands globally, including Ford, Toyota, BMW, and Volkswagen. We enable these powerhouses to stay a step ahead in an ever-evolving space, and now, with the emergence of EVs, self-driving tech, and connected vehicles, we help them understand how the market’s attitude is shifting more than ever.
Automotive Market Research — What is it and Why Is It Important?
Automotive market research involves understanding why consumers buy cars, the influences on their choices, and what will dictate their choices in the future. It enables companies to gain critical insights and remain competitive in an environment of constant change.
This market research captures the data enabling companies to adapt to changing consumer behavior. For example, consumers are becoming more environmentally aware and gravitating toward EVs and more fuel-efficient vehicles.
What Are The Best Automotive Market Research Techniques
To help you understand how we provide deep, actionable insights, let me give you some top automotive market research methods we use:
Consumer Surveys and Focus Groups
These methods enable us to access firsthand insights from car shoppers regarding their preferences, opinions, and behaviors. How procedures can be used to address key questions (e.g. through structured surveys and guided focus group discussions):
- What do consumers prioritize when it comes to vehicles?
- How major concern for the environment impact their buying decisions?
- What triggers automotive brand loyalty?
When we worked with Toyota, for example, to better understand consumer interest in hybrid vehicles, we conducted surveys and focus groups in many regions. This data enabled Toyota to fine-tune its product offerings and marketing strategies, leading to closer alignment between the manufacturers and customers.
Competitive Analysis
We conduct a detailed competitive analysis to determine the strengths, weaknesses, opportunities, and threats of major industry players. For instance, when Volkswagen rolled out a new electric vehicle model, we helped them understand how their competitors were positioning their EVs, what consumers wanted, and where there were gaps in the market.
It helped Volkswagen to personalize its marketing campaigns and ensure its product would fit the specific needs of consumers.
Trend Forecasting, Data, and Analytics
We can predict new trends in consumer behavior, technological advancements, and market shifts. This enables our clients to anticipate changes and act as pioneers in their industry.
For instance, we worked with BMW to study consumer sentiment in autonomous driving. By leveraging advanced data analytics, we were able to measure the pulse of the consumer and identify several broad consumer pain points—such as safety, affordability, and regulatory environment—that informed BMW’s marketing and product development strategy.
Why Do You Need a Top Automotive Market Research Company?
In fact, from what I’ve seen, there’s a stark contrast between just collecting data and actually utilizing market research to achieve legitimate business success. SIS helps automotive companies advance their insights, providing solutions that revolutionize decision-making, drive growth, and allow our clients to navigate the intricacies of the automotive industry with certainty.
Data-Driven Decision Making
One of the best parts of my job is witnessing firsthand how analyzing and interpreting data correctly can change a business’s course. I have watched companies go from confusion to clarity, where decisions are based on concrete evidence rather than intuition or guesswork.
Deep Understanding of Consumer Behavior
I’ve long claimed that the “why” behind consumer behavior is just as critical as the “what”. Our research reveals consumers’ underlying motivations, attitudes, and preferences.
More profound data makes it easier for our clients to connect with their audience better on an emotional and practical level. For me, it’s about knowing what the data tells us and how the story behind it can lead to smarter business decisions.
Stand Out In The Competition
The automotive sector is highly competitive, and I know this from experience; making yourself a market leader in such a saturated market can be quite a challenge. That’s why we conduct extensive competitive analyses to uncover opportunities to help our clients stand apart.
Recognize market shifts and trends
I’ve been in this business long enough to see how quickly the automotive landscape changes. Trends are always changing, from the jump of electric cars to the growing significance of self-driving cars.
The Pros and Cons of Car Clinics
Car clinics represent a specialized form of consumer research that provides in-depth insight into vehicle design, features, and overall consumer sentiment. Having worked closely with various automotive brands to conduct car clinics, I’ve seen this method’s significant benefits and potential drawbacks.
The Pros of Car Clinics
1. Real-Time Consumer Reactions
Unlike traditional surveys or focus groups, car clinics often involve physical or virtual prototypes, which allows participants to interact directly with the vehicle. This hands-on experience provides invaluable insights into consumers’ feelings about certain features, designs, or technologies before they hit the market.
2. More Accurate Testing of Product Concepts
Car clinics offer the opportunity to test actual or near-final product concepts in a way that more abstract research methods can’t.
The benefit here is clear: product concepts can be refined before mass production begins, reducing the likelihood of costly mistakes or missteps. From my experience, this detailed feedback is invaluable for refining products early in the development process.
3. Helps Identify Brand Perceptions and Market Positioning
In addition to testing specific vehicle features or concepts, car clinics also help companies assess their brand perception in the marketplace. Participants in car clinics are often asked questions related to brand image, pricing, and competitors, offering insights into where a company stands in the eyes of consumers. This is especially helpful when launching a new model or rebranding an existing one.
The cons of car clinics
High Costs and Resources
There are expenses for recruiting participants, renting a space and conducting the event. Speaking from the perspective of a CEO, I’ve seen how these costs can accumulate rapidly, so it’s vital for companies to thoroughly consider if the insights they’re pursuing merit the expenditure.
Suppose a brand is short on budget. In that case, it can be more feasible to use cheaper research methods, like surveys or focus groups, and hold off on the car clinic until enough initial research justifies the more involved car clinic process.
Limited Participant Pools
Car clinics tend to have fewer participants than most market research techniques. Although these smaller, discrete groups can offer nuanced and tactical insights, they don’t always reflect the range of perspectives within the larger target market.
Research Bias
Moderators can inadvertently frame the participants’ responses, guiding them toward certain beliefs or reactions, and, group dynamics aside, participants may feel social pressure to give acceptable answers. While we at SIS International take every precaution to mitigate this bias with seasoned moderators, it’s something to remember in any car clinic.
Frequently Asked Questions on Automotive Market Research
1. What is Automotive Market Research and Why Is It Important?
Automotive market research allows businesses to better understand their customers and make more informed decisions as technological advancements evolve and consumer needs change.
2. How does automotive market research help companies outperform each other in a competitive market?
Automotive market research empowers organizations to anticipate shifts in consumer desires, competitor movements, and market dynamics — all of which inspire innovation. It helps the business to recognize new possibilities, prevent risks, and produce goods that satisfy consumer needs, allowing them to gain an advantage in the market.
3. How is Consumer Behavior a Part of Automotive Market Research?
Automotive market research heavily relies on consumer behavior, which is essential for the success of every business. For example, growing concern about environmental sustainability is boosting demand for electric and hybrid vehicles.
4. Why is sustainability important in automotive market research?
More and more consumers are looking for environmentally friendly options, which has resulted in a surge of electric and hybrid vehicles. Automotive market research companies use sustainability to understand how it impacts the decision-making process and obtain relevant features according to what consumers value, such as fuel efficiency, low emissions, or recyclable materials.
5. How does market research affect marketing and advertising strategies?
Understanding what influences purchasing decisions–from price to safety or performance – allows corporations to customize their campaigns to connect with their desired audience. It also drives the optimization of advertising channels and messaging to increase engagement.
Why is SIS International a Top Automotive Market Research Company?
For over 40 years, SIS International has been helping automotive brands navigate global complexities. I have worked alongside a very talented group of specialists who are all united in one goal: to make our clients successful by giving them high-fidelity, actionable insights.
Decades of Experience Equates to Expertise
We have been working with leading brands, utilizing our extensive automotive industry expertise to provide customized research solutions. Throughout my career, I’ve witnessed the automotive sector undergo seismic changes—new technologies, evolving consumer needs, and emerging global trends… But one thing has not changed: our dedication to producing research that gets results—real business impact.
Global Reach, Local Expertise
The automotive market is worldwide, but each market has its characteristics, preferences, and challenges. We have a range of specialists globally with in-depth knowledge of their respective markets and strong automotive experience. Our grounding in local expertise and global footprint provide regionally relevant and globally informed insights.
Next-Generation Research Methodologies
We implement modern tools and techniques to collect the best data we can. We strive to provide our clients with the most accurate and actionable insights through diverse methodologies. This blend of methodologies allows us to navigate the automotive sector effectively and generate insights that inform product designs, brand messaging, and marketing strategies.
Tailored, Actionable Insights
I am most proud of how we have always provided tailored, actionable insights. We understand that clients vary and have their own set of goals, challenges, and needs. That is why each project we complete is custom-tailored.
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About SIS International
SIS International offers Quantitative, Qualitative, and Strategy Research. We provide data, tools, strategies, reports, and insights for decision-making. We also conduct interviews, surveys, focus groups, and other Market Research methods and approaches. Contact us for your next Market Research project.