Mapping the European EV Market Landscape

A global electric vehicle (EV) manufacturer headquartered in Asia, with a specialization in compact SUVs, wanted to penetrate the European market. It was looking for a comprehensive analysis of market dynamics for EVs and luxury compact EV SUVs to help determine regional market opportunity.

The manufacturer faced challenges in establishing preliminary market assumptions to guide its next strategic move into the European market. It wanted insights into the operational strategies of rival EV manufacturers but was struggling to identify and engage suitable individuals to participate in the research process.

Using targeted qualitative research across key European countries, Phronesis provided deep insights into market dynamics, competitor analysis, and user preferences.  

Objective

The primary objectives of this study were to:

• Understand characteristics and developments within the luxury compact SUV category
• Evaluate competitors’ products and benchmark direct competitor vehicles based on factors including visual aesthetics, safety, and overall user experience
• Create user profiles to build a detailed understanding of the target audience
• Understand market expectations and aspirations for the target EV sector
• Understand the impact of new technologies on usage scenarios

Solution

Phronesis targeted OEM manufacturers and automotive dealers in Germany, France, and Norway, conducting in-depth interviews with product strategy decision-makers and applying competitive intelligence and benchmarking to gather essential insights. This included insights into brand perception of the market leaders and an assessment of the market potential for Plug-in Hybrid Electric Vehicles (PHEVs) and EVs.

We were able to deliver:

• Highly skilled interviewers with automotive industry technical know-how
• Access to an expert network of industry leaders
• Efficient interview scheduling with top-tier participants
• Expertise in competitive intelligence, benchmarking, and data analysis.

Results

Our research delivered deep insights into the EV market, its customers, key products, and competitors, to inform market strategy, including insights into ideal customer preferences: dimensions, overall safety, and user experience.

We found:

• Customers tend to prefer SUVs over smaller cars, due to the design and utility of the vehicle
• Increasing EV demand driven by government regulations and subsidies
• Growth in pre-owned EV market owing to economic conditions

This enabled the automotive manufacturer to restructure its product strategy and improve its current offerings. Phronesis also proposed strategies to navigate EV market challenges effectively, ensuring customer satisfaction and market success without disrupting the manufacturer’s existing supplier relationships.