Consumers continue to express significant interest in safety-related vehicle features and are willing to pay a premium to have them in their next vehicles, according to the J.D. Power and Associates 2004 U.S. Automotive Emerging Technologies Study.
Among 20 emerging automotive features included in the study, the four most desired features enhance the safety and security of vehicle occupants and are of interest to at least three-quarters of consumers surveyed. Side impact airbag protection, which includes front torso and front/rear head protection, tops the list, with nearly 90 percent of consumers expressing interest in the feature and 37 percent stating they are definitely interested in having this feature on their next vehicle. Consumer interest remains strong even after the introduction of the realistic market price of $600. Among consumers interested in side impact airbag protection, almost all are willing to pay an additional $150 to have front/rear curtain airbags that stay inflated in a rollover situation.
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Other emerging technologies receiving strong consumer interest include run-flat tyres, with 85 percent of consumers indicating an interest in having the feature on their next new vehicle, and laminated door glass, which provides interior noise reduction, increased protection from vehicle theft and reduction of harmful UV rays. Even with a price tag of $300, two-thirds of consumers indicate that they would likely purchase this feature on their next vehicle.
“The 2004 study shows that the introduction of price has no effect on the relative ranking of the top six features among consumers,” said Melissa Sauter, director of automotive emerging technologies at J.D. Power and Associates. “This is unusual, as we typically see a bigger shift in consumer priorities for vehicle technologies once prices are considered. It is good news for these technologies because not only are they of interest to many consumers, but they also have expected market prices that are in line with consumer expectations.”
The non-safety-related feature with the highest level of interest among consumers is premium surround sound. With 60 percent of consumers expressing a desire to equip their next car with this feature at a market price of $400, this feature shows much promise.
“Consumer interest levels indicate that manufacturers need to not only offer premium surround systems on more vehicles, but also should engage in branding opportunities to offer greater appeal to new-vehicle buyers,” Sauter said. “More than 80 percent of consumers interested in a premium surround sound system would be willing to pay double the price of a branded system.”
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By GlobalDataThe study shows that nearly two-thirds of consumers are interested in receiving real-time traffic information in their vehicle. Of the five traffic delivery methods presented to consumers in this study, interest in receiving this information through a navigation system—the highest priced delivery method—is second only to AM/FM radio—the “no-cost” delivery method.
“The integration of real-time traffic information has the potential to significantly increase consumer adoption of vehicle navigation systems,” said Sauter. “At a total system price of $1,500, the level of consumer interest in a navigation system increases by approximately 75 percent if traffic messaging is included at no additional cost.”
The 2004 U.S. Automotive Emerging Technologies Study is based on responses from more than 17,000 U.S. consumers. The study is designed to measure consumer familiarity, interest and purchase intent for emerging automotive technologies.
