Factors affecting perception of generation z and generation alpha towards purchase of automobile variants: An environmental perspective

The automotive sector is undergoing a transformative period, marked by technological advancements, sustainability imperatives, and economic uncertainties. The present paper explores the intricate interplay between the choice of automobile, preference factors, and generational perspectives. This paper explores Generation Alpha's (born 2010 onward) approach to the evolving automotive landscape, focusing on their vehicle preferences and perspectives on environmental concerns. The paper examines the concept of sustainability, Industry 5.0, government policies, the role of stakeholders in promoting environmental sustainability, state and sectoral advancements, the influence of technology on vehicle adoption, factors influencing buyer behavior, and the challenges to adopting various types of vehicles. The paper's findings highlight the evolving nature of consumer preferences and the factors affecting purchase intent. It emphasizes the growing adoption of hybrid and environmentally friendly vehicles, driven by supportive government policies and their global impact. The study underlines that flexibility and subsidies for purchasing hybrid and environmentally friendly vehicles will drive transformative changes in the automobile industry soon. It also underscores the importance of innovative branding and marketing strategies to raise awareness and promote conscious decision-making in vehicle purchases and thereby drive sustainable transformation in the global automobile industry worldwide.