A recent survey by Adevinta, a prominent European online classifieds group, reveals that brand reputation remains a crucial factor for 45% of European consumers when purchasing a new car. However, with the advent of electric vehicles (EVs), brand loyalty is weakening as consumers show a greater willingness to consider new or unfamiliar brands. Specifically, 28% of consumers are more inclined to buy an EV from an unknown brand compared to traditional petrol or diesel vehicles. This shift is attributed to lower consumer awareness of EV models compared to Internal Combustion Engine (ICE) models, and several key barriers to EV adoption—such as battery range, affordability, and availability—are prompting consumers to explore new options.
The survey, conducted among 5,000 European consumers, indicates that established carmakers can no longer rely solely on their historical brand loyalty. Emerging EV manufacturers are posing significant competition, leveling the playing field as consumers prioritize performance and cost over brand recognition. Notably, nearly four in ten consumers would consider buying an EV from a new brand if it offered superior battery range, and over a third would do so if it was more affordable. The study also highlights the low recognition of EV models, with well-known ICE models like the Volkswagen Golf and BMW 3 Series having higher consumer awareness than their EV counterparts, such as the Volkswagen ID.3 and BMW i4. With European EV volumes expected to grow by 18% annually, established manufacturers must address consumer concerns around cost and battery range to maintain their market share against increasingly competitive emerging brands.
