10:10 am, October 28, 2024
Auto Trader’s new car performance director says that slew of new car brands is bringing more choice and diversity to the market, with buyers showing less loyalty than ever before.
In this week’s Car Dealer Podcast, Bex Kennett discusses the arrival of multiple new brands in a slow car market, specifically from China.
Speaking with hosts Jon Reay and James Baggott, she said: ‘It’s tough right now. There’s less of an issue with supply than there was and we are still seeing consumers buying cars, but retailers are having to work really hard for those sales.
‘Loyalty has changed. You’ve got the new brands and they’re coming into the market with confidence and buyers are looking around, which makes it tougher for established brands.
‘With new brands, you’re looking at retail networks that are slimming, with more of a focus on larger dealer groups.
‘The established names are taking on new brands, and you’ve got the likes of Omoda, Jaecoo, BYD etc. These Chinese brands are coming to market strongly and they’re appealing to customers; these vehicles offer amazing technology at an appealing price.
‘Tech, price point, reliability, long warranty – these are the things that seem to matter now, so much more than brand. Tech, in particular.’
Kennett went on to describe how she’s hoping for announcements in this week’s Budget that will help shore up EV sales, which have slowed in recent months.
‘I’m hopeful that the government will come up with something to make buying EVs more appealing,’ she added.
The Car Dealer Podcast, sponsored by Carwow, sees an industry guest join our hosts to discuss the motor trade’s biggest headlines of every week.
A full list of the stories discussed on this week’s episode can be found here.
You can listen to all episodes of the Car Dealer Podcast on Spotify, or wherever you get your podcasts.
