A recent survey revealed that 6 out of 10 drivers in India preferred for a fuel-efficient vehicle only. The survey was conducted on behalf of Ford Motor Company in June 2016 involving more than 9,500 drivers in 11 markets across the Asia Pacific region. More than 67 percent of Indian consumers say that fuel efficiency is more important than power when buying a new car.
When asked the reasons for prioritizing fuel efficiency, 72 percent of consumers from India cited the need to save money. Other top reasons included a desire to be more environmentally friendly (71 percent) and concerns for high fuel prices (64 percent). In fact, fuel efficiency is such a major factor that more than half (52 percent) of drivers who currently own a powerful car say that they regret not purchasing a more fuel-efficient vehicle.
“We conducted this survey to learn more about what consumers’ attitudes are towards fuel efficiency when they are shopping for a new car,” said Kevin Tallio, chief engineer, Engine Engineering, Ford Asia Pacific. “Fuel efficiency remains one of the top concerns. Drivers continue to be sensitive to fuel costs.”
The survey revealed that the need to save money was also reflected in fuel-purchasing habits. One in four (28 percent) said they already apply tactics to save at the pump such as waiting for lower fuel prices to top up.
This desire to reduce fuel consumption extends so far that drivers in India are even willing to change their behavior on the roads. More than 40 percent of consumers say that they will change their driving habits to use less fuel and 37 percent say that they will take public transport more often. Another 33 percent say that they are planning on driving less over the next 12 months.
These thrifty behaviors extend to what Indian consumers would do if they could save even more on fuel. Sixty six percent said that if they saved 20 percent on fuel every month, they would put the extra money toward their savings. Another 53 percent say that they would put it towards their family. This all coincides with a general wariness about India’s fuel prices. More than 60 percent of respondents say they don’t trust fuel prices to stay stable over the next year.
But while Indians are eager to protect themselves from the sting of the pump, surprisingly many are unaware of longer-term strategies for saving money:
· More than half (57 percent) of those surveyed admit that they do not consider the total cost of ownership – fuel and vehicle maintenance – when shopping for a new car
· Only one in three (37 percent) say that they would invest more money at the time of purchase on a more efficient engine in order to save money on future fuel costs
However, there may be signs that behaviors are changing. Many consumers who are planning to buy a new car in the next year are considering more fuel-efficient vehicles:
· Fifty six percent plan to buy a vehicle with a more fuel efficient engine
· Thirty four percent plan to downsize to a smaller vehicle
· Seventeen percent plan to buy a hybrid or electric vehicle
However, their choice is made difficult by the fact that Indians also value performance. Four out of five respondents say they consider performance as a factor when buying a new car. City residents disproportionately said that they were motivated by performance (82 percent vs. 56 percent of rural residents).
It was exactly this need to offer the combination of fuel efficiency and power that drove Ford to develop the EcoBoost family of engines. Since 2009, EcoBoost engines have been showered with awards, in fact the 1.0-liter EcoBoost engine was voted best in class at the 2016 International Engine of the Year Awards for the fifth year in a row. EcoBoost technology can now be found under the hoods of more than 20 Ford nameplates around the world – from the EcoSport to the iconic Mustang.
