FleetProcure 20191 1
Market Briefing represents the views of the industry on issues affecting the leasing broker market. If you have a view you would like to express, please email the editor: ralph.morton@brokernews.co.uk. Market Briefing is supported by FleetProcure, the online vehicle purchasing system used by leasing brokers and dealers. 

RESEARCH by Carwow has shown that 29% of active car customers would consider a Chinese manufacturer for their next purchase. Results of the poll come as Auto Shanghai – one of the world’s largest motor shows – takes place.

Of those drivers questioned, 30% said that they associate Chinese cars with value for money, and 19% reckon Chinese manufacturers have more competitive prices than other brands. One in 10 said that they have “more and better” technology, when compared with European competitors.

It’s clear that public opinion is swinging in favour of still relatively unknown Chinese manufacturers, though the same research shows that there is still some way to go.

Perceived build quality issues remain for 36% of those polled, and 28% have a “lack of familiarity with Chinese brands”. This is supported by 21% responding that they would need “more time” to be persuaded to pick a Chinese car, showing that some drivers just want to build more familiarity with the manufacturers.

Something that will take much longer to change for more than a third of drivers (37%) are concerns about “political matters”.

The fact that more than one in four drivers would now consider a Chinese car is testament to how quickly we’re seeing perception shifting.

“However,” continued Hind, “Chinese car manufacturers looking to launch in the UK also have a job to do to win over new drivers; they’re battling a near-complete lack of brand awareness and will want to turn around the public’s current perception of build-quality.  

“While build quality might have been an issue in the past, it’s now very high, as is design and safety. Chinese cars have modern, sleek styling, and European designers are being headhunted by Chinese manufacturers to ensure new models have high kerb appeal. Meanwhile, Chinese cars are getting some of the highest safety ratings in Europe, beating cars from more established brands.

“Electric vehicles are where Chinese brands are focusing; they have the battery processing and production capabilities, and can produce high-quality, long-range EV much more cheaply than European manufacturers. This is likely to drive the price of EVs down, while also increasing choice in the market, all of which is great news for British motorists considering switching to EVs.”

There is already a small selection of Chinese brands available for leasing customers to pick from, with more due to arrive in the next few years.

MG is by far the most established, building on the foundations of an historically British name, and is winning over customers with a practical range of EVs at comparatively low costs. GWM ORA has the Funky Cat hatchback available to lease, having launched in the UK towards the end of 2022, while BYD has arrived this year launching with the Atto 3 crossover.

Show CommentsClose Comments

Leave a comment