Car ownership in Europe can’t thrive without data sharing

New car registrations in Europe have been in steady decline since before the COVID-19 pandemic. From 15.84 million in 2019, Jato Dynamics estimates that figure fell 29% to 11.31 million in 2022. The future of vehicle ownership on the continent is complicated by inflation, the higher entry costs of electric vehicles (EVs), and the availability of more affordable shared mobility platforms. But what if the fundamental problem starts with the relationship between customers and OEMs?

Publicis Sapient’s 2023 European Car Ownership Report surveyed 5,800 car owners in Germany, France, the UK, and Sweden about their preferences and priorities. Overall, the majority of consumers (58%) did not feel a personal connection to their chosen car brand. In fact, 50% have never interacted with the company that made their car.

Clearly, there is a communication breakdown between manufacturers and the consumers that make up their shrinking European customer base.