new delhi the ongoing coronavirus pandemic has sparked financial concerns that affect vehicle ownership and vehicle purchase plans across the globe according to deloittes automotive global consumer study 2021due to the covid19 pandemic consumers in many markets are rethinking not only on when to buy their next vehicle but also on the type of vehicle they will buy next the study saidfrom september through october 2020 deloitte surveyed more than 24000 consumers in 23 countries to record opinions on various critical issues affecting the automotive sector including the development of advanced technologies advt vehicle payment deferments are also raising some concern across the globe the report said among the six countries surveyed in the study india tops the list followed by china in the average number of consumers requesting payment deferment this yearabout 52 of respondents have requested payment deferment this year in india with younger consumers more likely to push back paymentsthe virus outbreak also impacted the timelines for acquiring their next vehicle the report highlighted it showed that 38 indian consumers had delayed their timeline for acquiring the next vehicle because of the covid19 pandemicas the risk of affordability concern increases the report said that a growing number of people are deferring vehicle loanlease payments with some intending to acquire a less expensive vehicle than originally planned source deloittes global consumer study 2021while the vast majority 84 of the us consumers plans to purchase a similar vehicle in the future more than half of consumers in india 57 plan to enter a completely different vehicle segment due to the pandemic the study saiddespite the rising popularity of online automotive sales globally due to the pandemic 60 of indian consumers still want the inperson experience moving forward advt unlike many other retail sectors that have seen the wholesale shift to online buying purchasing a vehicle remains a personal experience for many consumers however some people will be looking for a virtual sales experience to maximise convenience speed and ease of use this will likely result in a more complicated and potentially costly set of consumer expectations for dealers to meet when businesses are looking to recover and thrive in the wake of the pandemic karen bowman vice chairman deloitte llp and the us automotive sector leader said etauto published on jan 19 2021 at 1206 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app deloitte global automotive consumer study 2021 impact of covid on vehicle ownership vehicle demand auto buyers vehicle ownership