Most car buyers would consider putting a new entrant brand on their shopping list as awareness of these mostly Chinese manufacturers grows, according to the MOTORS Consumer Insight Panel.
Over two-thirds (70%) of the 2,000 buyers polled say they would consider purchasing a new or used vehicle from a new entrant carmaker.
Buyers are also open minded regarding fuel type with 59% saying they would consider a hybrid and 57% electric.
Lucy Tugby, Marketing Director of MOTORS, said: “Our Consumer Insight Panel identifies just how strong the challenge to established marques is with most respondents saying they would consider buying from a new entrant car brand.
“The findings suggest increasing openness among buyers, especially those aged 25-34, to try something new, rather than stick with an established marque. We believe this reflects competitive pricing, high levels of desirable tech and attractive styling.
“For dealers this means many ICE owners, in their next buying cycle, will not just be weighing up the options of transitioning to a new or used hybrid or EV – but also to a new car brand.”
Around two-thirds (65%) of car buyers have heard of at least one of the new car manufacturers either currently on sale, or planning to come to the UK, up from 57% in May.
Once again BYD outperformed all other new brands in terms of the highest prompted awareness, with 40% of buyers having heard of the carmaker which debuted in the UK in 2023.
Awareness of second placed Jaecoo was almost half (21%), with Chery (16%), Maxus (15%), and Omoda (14%) rounding off the top five.
Awareness of all other brands was lower: Geely (13%), NIO (11%), GWM (11%), Xpeng (10%), Changan (10%), Aion (8%), Denza (7%), Haval (7%) and Leapmotor (7%).
The research found those most likely to have heard of at least one new brand was highest among men (73%) and 25-34 year-olds (79%).
Tugby added: “Although BYD remains the most familiar new name among car buyers, the research identifies notable improvements for Jaecoo and Omoda as they ramp up their UK rollouts.”