Since 2016, Düsseldorf-based TARGOBANK has commissioned the polling institute Forsa to conduct an annual automotive study. The study focuses on decision-making criteria for car purchases, attitudes toward different drive types, and general views on current transport policy issues and measures. “As one of the leading manufacturer-independent auto banks, we want to know what concerns drivers,” summarizes Markus Häring.
Internal combustion engines remain highly popular
The current survey shows that the popularity of internal combustion engines remains high. When purchasing a car, 31 percent (+/-0 percentage points) of respondents would still prefer a gasoline engine. The preference for diesel engines also remains unchanged for 14 percent of respondents (+1). This is consistent with the fact that 73 percent (+7) oppose the ban on internal combustion engines that will come into force in 2035. The willingness to switch to an alternative drive system remains stable compared to the previous year: 29 percent (+/-0) of respondents who currently drive a diesel or gasoline vehicle plan to switch when they next buy a car. 19 percent (+4) of respondents can imagine choosing a hybrid drive system, with the majority (51 percent) preferring a plug-in hybrid. A purely electric drive system would be an option for 17 percent (+/-0). Only 1 percent (-2) of respondents can imagine buying a hydrogen-powered car. 18 percent (-3) are still undecided about the drive system. The most important decision factors for choosing the drive system are the purchase price of the car (32 percent) and the range (29 percent). When asked how they plan to pay for their new vehicle, just over half (53 percent, +2) cite cash, while just over a third (37 percent, +/-0) rely on financing or leasing.
Respondents want investments in public transport and e-mobility
The majority of drivers are particularly satisfied with the options for private transport in Germany: Almost all respondents (96 percent) are satisfied with the option of getting around by car in Germany. 69 percent confirm this with regard to cycling. Public transport performs less well in comparison: 39 percent are satisfied with taking the train and 37 percent with local public transport, such as regional trains, trams, or buses.
The statements are consistent with the fact that the majority of drivers would like to see investments primarily in public transport over the next ten years: 88 percent agree that the expansion and modernization of rail transport should increase, and 86 percent want an increase in investment in local public transport. 76 percent also want a long-term financing solution for the Deutschlandticket (Germany Ticket). 69 percent want the further expansion and modernization of the cycle network. 54 percent support investments in car transport.
Of the political parties’ plans for the automotive industry discussed in the run-up to the federal election, the initiatives to improve the usability of electric cars were particularly well received: 81 percent want an expansion of the charging infrastructure for electric cars, and 79 percent want investments in the further development of battery technology. With regard to other alternative drive technologies, 74 percent support investments in the (further) development of e-fuels. Government subsidies with regard to purchase prices are met with less approval: Only 54 percent support purchase premiums for electric cars. The same applies to possible subsidies for the production of electric car batteries in Germany. Support for the frequently discussed topic of “speed limits on highways” has declined compared to the previous year, but the majority still support the measure (57 percent, -6).
Criticism of the auto industry and payment models, approval of digitalization
Sixty-eight percent of respondents are critical of the long-term prospects of the German auto industry. Most respondents cite the manufacturers’ business policies and the political framework as reasons (86 percent and 85 percent, respectively). H Other frequently mentioned issues were the overall economic situation in Germany (79 percent), the competitive situation in the market (74 percent), and the lack of innovation in companies (73 percent).
Respondents are also critical of new payment models in which vehicles already have the software or hardware installed/built in at the factory, but the service is only activated via a subscription or a one-time payment (e.g., seat heating). Only 13 percent of respondents approve of such models, while 78 percent are opposed.
On the other hand, most respondents see opportunities in the increasing digitalization of cars, for example through intelligent assistance systems and hazard detection (61 percent). 34 percent, on the other hand, see risks, such as data leaks or system errors.
Green mobility is gaining importance as an employee benefit
More sustainable mobility is increasingly valued as an employee benefit. For example, 78 percent (+3) of employed people find free charging infrastructure for e-cars and e-bikes at work attractive. The offer of a company bike option is of interest to 68 percent (+3), and almost as many are interested in covering the costs of the Deutschland-Ticket (Germany Ticket) as a “job ticket” (66 percent; +6). Over half of respondents (55 percent, +3) believe employers can score points by encouraging the private switch to electric cars with financial subsidies for charging devices. Fifty percent (+8) would like to see corporate car sharing, i.e., the provision of vehicles for shared use by company employees at a discounted rate, including for private use.
About the Car Study and Mobility at TARGOBANK
In 2015, TARGOBANK Autobank launched, offering purchase and sales financing for the automotive trade. Since the following year, TARGOBANK has commissioned the polling institute Forsa to conduct the TARGOBANK Car Study every year to survey drivers’ sentiments. TARGOBANK Autobank aims to support the transition to sustainable mobility and therefore offers tailored financing for every type of drive. Alternative mobility options are also a focus for its employees: TARGOBANK enables its employees to install electric chargers at the company’s expense, both for those entitled to company cars and for their private cars. A corresponding campaign was launched in 2023. Leasing of company bicycles is also established, and the €49 ticket is also available to employees at a significantly reduced price.
Image of TARGOBANK
Translated from German by Google
Press release https://tinyurl.com/yr7udwbz
