Apple, Inc. AAPPL could be a winner with its self-driving car when it finally rolls one out, according to the results of a survey.
The results were based on Strategic Vision’s survey of 200,000 new vehicle owners on their willingness to consider buying car brands and their views on the quality of these brands. The survey included 45 car brands, with Apple making the cut for the first time.
Apple Car Resonates With Car Owners: About 26% of respondents said they would definitely buy an Apple-branded vehicle in the future. Only Toyota Corporation TM and Honda Motor Company HMC had better scores than Apple, with the number of respondents saying they would consider these brands at 38% and 32%, respectively.
Ford Motor Company F and Tesla, Inc. TSLA had scores of 21% and 20%, respectively.
“What should be concerning to others is that Apple generates a greater amount of Love than any other automotive company, double that of strong brands like Honda, Toyota, and Tesla,” said Alexander Edwards, Strategic Vision’s president.
The combined score, taking into account the people who expressed a willingness to consider buying and the impression regarding quality, was the highest for Apple.
What Apple ultimately provides in terms of styling, powertrain, product, and other key features would determine the level of interest among car owners, the firm said.
“However, their brand awareness and reputation provide a formidable platform that automotive manufacturers should brace themselves for accordingly,” said Edwards.
Apple May Land Moonshot Right In Incumbents' Sales Backyard: If established players don’t prepare for the kind of disruption Apple can bring, they might be left wondering what happened, similar to when Tesla entered the market, the firm said.
Christopher Chaney, Strategic Vision Senior Vice President, said, "All the current players in the industry mostly hold their own destiny. If they simply stay lulled into spending all their ingenuity chasing electric motors, LED lighting, and flat screens with thousands of apps and every high-tech feature you’ve never dreamed about, Apple may land the moonshot right in their sales backyard."
The only sore point for Apple is that it hasn’t yet produced a vehicle, leaving 34% of new vehicle buyers to state that they “don’t know enough about what an Apple product might be like,” the firm added.
Apple closed Friday's session down 1.36% at $155.81, according to Benzinga Pro data.
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