Despite relatively low levels of awareness of many of the new entrant Chinese brands, most car buyers would consider purchasing from them, according to the latest MOTORS Consumer Insight Panel.
Overall half (57%) of buyers are aware of at least one new car brand, although that is heavily skewed towards BYD which has the highest prompted awareness among buyers at 40%.
NIO was in second place with 14% of buyers aware of the brand, ahead of its expected UK debut later this year, followed by Chery-owned Jaecoo and Omoda at 12%, following their launch here last year, and GWM (12%), on sale since 2022.
The lowest-ranked new brand on sale in the UK was Leapmotor (6%), despite being introduced through the Stellantis dealer network in the first half of this year.
Awareness of new brands is highest among men (66%) and buyers aged 25-34 (71%).
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.”
Despite the low levels of awareness for most brands, the research found this was not necessarily a barrier to purchasing.
Nearly two-thirds (64%) of buyers say they would consider buying from a new brand, with more than half (54%) saying they would contemplate purchasing an EV. While consideration of buying a new car (46%) was only marginally higher than used (41%).
“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,” said Tugby.
The Consumer Insight Panel, which is independently researched by Insight Advantage, polled the views of 2,002 car buying decision makers in May.
