October 2023
Featured in this insight: Automotive
UK car dealers believe Chinese brands will claim up to 30% of the UK’s new car market in next 5 years, survey finds: A survey by Carwow has found that UK car dealers believe that Chinese brands will claim up to 30% of the new UK car market within the next five years, with only 13% suspecting that Chinese brands won’t be successful in the United Kingdom.
The survey was conducted by the online car marketplace Carwow, which asked UK car dealers questions about the introduction of Chinese car brands. One question in the survey asked: ‘What proportion of UK car sales do you think Chinese OEMs (original equipment manufacturers)will take over the next 12 months’, with nearly 7 in 10 (68%) predicting that the new Chinese entrants would account for up to 10% within the next year, with 25% saying they would account for 11-20%.
Further findings revealed that 96% of the car dealers involved believed price competitiveness would be the key consumer motivator to buy from a Chinese brand, a big difference from the next motivator – vehicle technologies (35%).
On the other hand, the dealers also picked the top 3 potential concerns consumers may have when buying from a Chinese brand. The top-ranked factor that may prevent people from buying according to the dealers polled, was build quality (75%), with lack of brand familiarity (57%) coming in second, and limited aftersales support (56%) making up the top three.
More findings highlighted that 38% of UK car dealers would be ‘happy’ or ’very happy’ to sell new cars from Chinese brands, with 42% welcoming the increased choice they would offer to UK consumers.
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