Despite low levels of awareness of many of new entrant Chinese marques, most buyers would consider purchasing from them, according to Motors’ Consumer Insight Panel which polled the views of 2,002 car buying decision makers in May.
Nearly two-thirds (64%) would consider buying from a new brand, 54% would consider an EV, 46% would buy new while 41% would buy used. Overall, 57% of buyers are aware of at least one new brand and BYD has the highest prompted awareness at 40%.
Lucy Tugby, marketing director of MOTORS, said: “The low awareness of many of the new Chinese brands is undoubtedly due to the sheer number of entrants we have witnessed over a short time.
“BYD’s prominence can be attributed to its investment in brand building through marketing and high-profile sponsorship activities, in conjunction with the rollout of its dealer network.”
In terms of prompted brand awareness, NIO was in second place (14%), followed by Omoda and Jaecoo (12%), and GWM (12%).
The lowest-ranked in terms of brand awareness was Leapmotor (6%).
Tugby said: “The research shows just how receptive car buyers are to new brands and how brand loyalty is no longer a prime consideration.
“The dynamics in the UK car retail market are changing rapidly and younger buyers in particular are open to considering buying new or used cars from a new Chinese brand rather than stay with tried and tested European, Japanese and South Korean marques, the allure of affordability and the latest tech outweighing badge considerations.”
