67% of Quora users planning to buy a car say they would pay more for a brand they're familiar with: Report

Users of Quora, the knowledge sharing platform, planning to buy a car are more likely to look at consumer reviews when researching a brand or a product than the average car buyer in India and 60% of Quora users planning to buy a car want brands to be innovative, as per a report which highlights the latest car buying trends on digital platforms.

Quora, Talkwalker, and Grant Thornton Bharat have partnered for the industry insights report on the auto sector which throws light on several factors. It states that the automobile sector  by leveraging the latest technology and data solutions, is improving customer experience with a shift from physical to digital.

It states that the Indian automobile market will be revolutionised with several digital interventions in the next few years.

Some other key findings of the report are, content related to cars and automobiles on Quora is seeing a steady increase over the last year. It adds that 67% of Quora users planning to buy a car say they would pay more for a brand they are familiar with.

It also suggests that with increase in new vehicle prices, pre-owned/used vehicles are expected to increasingly become a more popular choice and higher to middle-income individuals make up 73% of Quora’s car-buying audience

Based on Talkwalker’s analysis, Sports Utility Vehicles (SUVs) account for an 87% share of mentions across online conversations in India in 2021, showing a greater preference for SUVs amongst Indian consumers than the global average (59%).

It also adds that the volume of conversations on the topic of electric vehicles (EVs) increased by 68% in the second half of 2021, with mentions peaking around the announcement of new state government policies and renewable infrastructure developments. These concerns around a sustainable future for mobility were largely driven by Gen Z and Millennial voices, according to Talkwalker analysis.

It adds, EVs are emerging as the preferred clean technology for the future of mobility. In addition to this, a focused approach on EV adoption is expected to allow carmakers to tap into a completely new segment and build their presence.

According to the report, leading domestic brands are focusing more on product marketing, building a positive brand reputation, and communicating a strong alignment with the Government of India’s plans to grow the local EV ecosystem.

Gurmit Singh - General Manager Quora, APAC, said, “Auto is a thriving category on Quora. Our users are a captive audience actively researching topics related to cars to gain knowledge and make an informed decision. We have released this report to help marketers understand the auto industry, what are the trends now, what are online conversations hinting at, and what are the purchasing preferences and patterns of car buyers in India. One can read this as a handbook.”

Benjamin Soubies, Managing Director, APAC & Japan at Talkwalker, said, “We have been in the Age of the Consumer for some time, with the pandemic accelerating the digital consumers’ takeover of brand conversations. The report demonstrates how, through Talkwalker’s AI-enabled consumer intelligence platform, auto marketers are able to tap into a reservoir of consumer insights derived from a multitude of data sources, including online platforms such as Quora. Brands that want to stay ahead of the curve will have to get closer than ever to their consumers.”

Saket Mehra, Partner and Auto Sector Leader at Grant Thornton Bharat, added, “With adoption of online showrooms gaining traction in the market, automakers will provide consumers with the experience of buying a car with a click, and within the comfort of their homes. Automakers in India are tweaking their marketing strategies and product positioning to cater to the evolving market trends and needs of the consumer, full of dynamism and instant gratification.”

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