Deloitte study: 55 percent of Romanians prefer to pay cash for buying a car

The personal car remains the most used daily transportation mode for 40 percent of Romanians, and 63 percent believe that it is likely to remain the preferred mobility choice over the coming years, according to Deloitte 2022 Global Automotive Consumer Study, conducted in 25 countries around the world,  including Romania.

In this context, Romanian consumers are willing to pay extra for a vehicle equipped with advanced technology, especially to improve safety systems (91 percent), for alternative engine, electric or battery-powered (89 percent), or for connectivity devices (87 percent). However, even if Romanians would pay more for an electric car than for one with an internal combustion engine, 70 percent of them expect to pay less than 100,000 lei for such a vehicle.

At the same time, seven out of ten Romanian participants are ready to share personal data if it provides benefits related to updates to improve road safety and prevent potential collisions (74 percent), maintenance updates and vehicle health reporting (71 percent), traffic congestion and suggested alternate routes (68 percent), directions for safer routes (66 percent) and access to nearby parking (66 percent).

“Equipping cars with digital technologies has become the norm in recent years, and consequently aspects related to data protection have increasingly attracted the attention of consumers, manufacturers and, last but not least, of authorities. The sharing of such data is being regulated at European level so that information is used in a safe and fair manner. Since last year, there has been an ongoing dialogue between the European Automobile Manufacturers Association and the European Commission to ensure, on one hand, that the regulation will not be excessive and, on the other hand, that it will benefit consumers and increase the confidence in their personal data safety,” said Ciprian Gavriliu, Tax Partner, Deloitte Romania.

The pandemic had a high impact on consumer behavior, given that almost half (44 percent) of the Romanians participating in the study said they changed their plans regarding the purchase of a vehicle. For 16 percent of them, the change was that they decided to buy a personal car, although they did not previously intend to, in order to avoid public transportation.

As a payment method, Romanians still prefer to pay cash (55 percent), while only four out of ten plan to loan or lease their next vehicle. They are also reluctant to buy a car online, thus over 80 percent still want to acquire their next vehicle via an in-person experience.

Regarding the criteria for accessing a mobility app, the most important is the price, followed by the ease of use. For the segment of consumers older than 55, ease of use is the first priority, and the price is less important.