Auto Dealer’s head of technique and insights, Marc Palmer, supplied perception into client attitudes in the direction of new entrants on the NFDA’s Driving Automotive 2024 which happened at Lord’s Cricket Floor final week.
The presentation explored the extent to which UK shoppers are open to new entrant manufacturers, particularly Chinese language manufacturers.
Primarily based on a survey of 4,000 individuals, analysis suggests that buyers largely don’t fixate on the place a automotive is constructed. Though 1 in 4 like manufacturers with a protracted historical past, model title doesn’t matter and the place the model originates from doesn’t matter.
Marc Palmer, head of technique and insights at Auto Dealer, mentioned: “Consciousness for many automotive manufacturers may be very excessive as you’d anticipate, particularly established automotive manufacturers. That may be very totally different for Chinese language new entrant manufacturers.
“BYD has the highest level of awareness as you would hope given the investment in its Euros marketing campaign. Awareness of most of the others is below 10%. That will inevitably change over the next five years or so.”
Auto Dealer gave shoppers a listing of phrases and requested which of them they related to manufacturers.
For Chinese language manufacturers, 1 in 4 mentioned superior know-how, 1 in 5 mentioned revolutionary and the third highest rating was poor high quality, barely forward of futuristic.
Palmer added: “What that tells us is there’s a great deal of room to form what the story is for manufacturers from China. No matter they need it to be.
“French cars have been in the market for over 100 years. Their scores aren’t much higher than China’s. With all that heritage, they do not have much of a story in people’s minds. The solid one is Germany but the room is there for Chinese brands to shape their story.”
Analysis suggests numerous shoppers are involved about information safety and privateness. For these over the age of 55, this quantity jumps from 31% to 41%
Shoppers even have issues about high quality, customer support, help with aftersales and security requirements.
Nonetheless, they’d be reassured by security rankings, skilled evaluations and proximity to a retailer that shares these automobiles.
Auto Dealer additionally requested shoppers what value differential they’d anticipate for a brand new entrant model. Shoppers steered that it might should be at the very least £3,000 cheaper than one thing comparable from a longtime model.
