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Commercial Vehicle buyer- The changing buyer behavior

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Digital adoption seems to have been accelerated for the CV buyers in India- a category wrongly perceived to be away from digital world. Happy and Interesting findings, I must say.

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Commercial Vehicle buyer- The changing buyer behavior

  1. 1. A TrucksDekho Survey Impact of COVID Driving revenues for & facilitating high brand visibility for Commercial Vehicle OEM's in India 01
  2. 2. * - In-market audience refers to lead droppers on our platform Why does this survey matter? • TrucksDekho is the only digital playground for trucks in India with approx. 7 Lakh+ unique visitors per month • Digital behaviour of Commercial Vehicle customers defer across each segment • OEMs can align their digital campaign and strategy according to survey results • In-market audience* (N) = 800, divided equally amongst 4 segments * - In-market audience refers to lead droppers on our platform 02
  3. 3. Survey Segments Mini-Truck 0T – 2 T Pick-up 2T – 3.5 T ILCV 3.5T – 12 T MHCV 12T & Above 03
  4. 4. Mini-Truck Pickup ILCV MHCV 81% 18% 1% 0% INDUSTRY TYPE 77% 21% 1% 1% 57% 37% 5% 1% 67% 30% 3% 0% FMCG Industrial Other Perishable FTB – First time buyers FO – Fleet Operators Respondents Profile (1/2) 04 FTB (0-1) Small (2-5) Medium (6-20) Large FO (20+) 20% 9% 14% 8% 13% 12% 21% 33% 47% 43% 45% 51% 20% 36% 20% 8% TYPE OF BUYER
  5. 5. Mini-Truck Pickup ILCV MHCV No Yes 87% 7% 1% 5% 84% 10% 1% 5% 91% 5% 2% 2% 88% 8% 1% 3% 05 AGE GROUP 21-40 40-50 Above 50 Prefer not to say DECISION MAKER 14% 19% 18% 18% 86% 81% 82% 82% Respondents Profile (2/2)
  6. 6. Which online portal do you visit for CV info? Mini-Truck Pickup ILCV MHCV 5% 58% 37% 7% 64% 29% 12% 55% 33% 9% 57% 34% 33% CV buyers in the digital ecosystem visit TrucksDekho as their preferred digital partner 06 OEM Website Any TrucksDekho
  7. 7. Mini-Truck Pickup ILCV MHCV Majority of CV buyers prefer viewing a truck’s specification, info-graphic displays & videos What are the best features of value on digital platforms like TrucksDekho? 8% 7% 21% 18% 28% 18% 2% 8% 17% 17%42% 14% 2% 6% 21% 17%33% 21% 4% 2% 22% 10% 42% 20% 07 Articles Dealer info Pictures Price Specifications Videos
  8. 8. Mini-Truck Pickup ILCV MHCV More than 68%+ CV buyers prefer to see a 360 degree video which for them is a final decision enabler Would a 360 degree video help you finalize your buying decision? No Yes 23% 77% 32% 68% 23% 77% 08 23% 77%
  9. 9. Mini-Truck Pickup ILCV MHCV Majority of CV buyers are now looking forward to online financial solutions and special online price offers Considering COVID, what new features will you prefer in online portals? 26% 2% 35% 7% 8% 22% 16% 1% 45% 8% 9% 21% 20% 1% 39% 10% 6% 24% 19% 1% 40% 8% 11% 21% 09 All of the above Extended warranty Finance solutions Insurance options Online booking Price offers
  10. 10. Mini-Truck Pickup ILCV MHCV 50% customers, across segments, are interested to book their next truck online. Going forward, this percentage is bound to increase Would you be willing to book the vehicle without a test drive? 49%51% 49%51% 44% 56% 44% 56% 10 No Yes
  11. 11. Mini-Truck Pickup ILCV MHCV 75% CV buyers have delayed their truck purchase What effect did Lockdown have on your purchase decision? 17% 77% 6% 16% 75% 9% 17% 75% 8% 14% 76% 10% 11 Cancellation of purchase Delay No effect
  12. 12. Mini-Truck Pickup ILCV MHCV 85% customers are still willing to buy new CV products post lockdown whereas the remaining may have changed their decision to now consider a used truck Are you looking to buy a new CV post Lockdown? 14% 86% 15% 85% 16% 84% 18% 82% 12 No Yes
  13. 13. Mini-Truck Pickup ILCV MHCV 35% customers are presently willing to buy new trucks within a period of 1 month post lockdown is lifted Post lockdown, by when would you like to buy your next CV? 32% 22%9% 37% 33% 24% 7% 36% 40% 11%8% 41% 40% 11%10% 39% 13 1 month 2 months 3 months 3+ months
  14. 14. Mini-Truck Pickup ILCV MHCV 2/3rd of survey takers derive exceptional and great value out of TrucksDekho How would you rate your experience on TrucksDekho? 2% 3% 22% 34% 39% 4% 3% 31% 28% 34% 3% 5% 30% 29% 33% 3% 3% 26% 33% 35% 1 – Very Poor 2 – Poor 3 – Neutral 4 – Great 5 - Excellent 14 1 2 3 4 5
  15. 15. Key Findings Viewership on TrucksDekho is dominated by FTB across segments. Traditionally, FTBs and SFOs have always been segmented with a vehicle mix of SCV & LCV. But this survey highlights contrasting buyer trends that are possibly a factor of the infrastructure and regulatory disruptions in the CV industry. Such buyer groups, e.g. – first time buyer of MHCV range of trucks, are growing with time only to become a majority buyer base. Majority of SCV & Pickup buyers visiting TrucksDekho help transport perishable commodities while ILCV & MHCV buyers help transport industrial goods. This is an intuitive trend seen across channels TrucksDekho is majorly visited by young business owners who are also the decision makers. Traditionally young business owners (experience less than 20-30 years) are synonymous with SCV & ILCV clientele. But this survey highlights contrasting decision maker trends that are possibly a factor of E-commerce and Logistics disruptions in the CV industry. Such buyers, e.g. – young decision maker of a MHCV purchase, are also the early adopters of digital platforms and are set to form network groups that evangelize the brand to others More than a third of CV buyers in the digital ecosystem visit TrucksDekho as their preferred digital partner. This is an important analogy to understand TrucksDekho’s position in the digital customer’s top of mind recall 1 15 2 3 4
  16. 16. 16 A majority of digital CV buyers prefer viewing the truck’s specification. Thus this feature becomes a decision enabler and needs to be nurtured jointly by OEMs and TrucksDekho through info-graphic displays and videos. A highlight in this analysis is the preference of CV buyers towards visual content consumption including pictures and videos More that 70% digital customers prefer to see a 360 degree video (inside & outside) as a critical decision making parameter Majority of digital CV buyers are looking forward to online financial solutions and special online price offers. Digital channels thus gives OEMs a fresh opportunity to present a new value proposition to the customer that is bound to act as a major cross-selling initiative. These solutions, possibly a bottleneck traditionally, will be a major brand-image booster as well Almost 50% digital customers, across segments, are interested to book their next truck online. Alternatively CV buyers would prefer that a test-drive is arranged at their home. This establishes the need to embrace hyper-personalization as buyer interactions become omni-channel. 75% digital buyers have delayed their truck purchase, 15% have cancelled the purchase 5 6 7 8 9 Key Findings
  17. 17. 17 About 85% digital customers are still willing to buy new CV products post lockdown whereas the remaining may have changed their decision to now consider a used truck About 35% of these customers are willing to buy new trucks within a period of 1 month post lockdown is lifted 2/3rd of survey takers derive exceptional and great value out of TrucksDekho. This affirms that TrucksDekho, a digital representation channel for the OEM’s, has enhanced as well as maintained OEM’s brand positioning and customer acquisition efforts 10 11 12 Key Findings
  18. 18. India's largest CV Auto- Tech company Thank You Our Parent Company Portfolio The Largest auto site in Indonesia The Largest top 2 auto sites in the country The Largest top 2 wheeler destination The Largest auto video ecosystem in the country Largest organised used car network nationally Disrupting EdTech industry The largest commercial vehicle online destination
  19. 19. India's largest CV Auto- Tech company Thank You Business queries connect @ 90962 73453 ; 96577 20280 ; 80030 98225

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