Almost three quarters (74%) of dealers think used car buyers are now less brand loyal, according to Starline’s June Used Car Tracker which questioned 70 dealers.
The research shows 52% believe price and value are becoming more important and 32% that cars from new entrants often appear a better buy.
Paul Burgess, CEO at Startline Motor Finance, said: “There has been a huge amount of disruption in the new car market during the last couple of years with the arrival of new entrants, mostly from China, achieving a substantial market share very quickly.
“We wanted to take a look at whether this openness to new brands was also true in the used sector and dealers agree that there has been an erosion in the importance of buying a used car from an established brand.
“It appears that if consumers perceive that factors such as price and value are present, they are more than happy to buy from brands that have very short track records in the UK. This indicates the future prospects for new entrants are considerable.”
Of the respondents, 28% say models from some established manufacturers have become too expensive, 12% say there is a general erosion in brand loyalty across all consumer goods and 7% say that younger people especially are open to newer brands.
Just 17% agree most used car buyers favour brands they know, the same percentage feel that established brands still have more credibility while 8% point out some new entrants lack essential support such as dealer networks.
