BYD Already Leads BMW, VW in EV Brand Recognition

Before BYD even arrives on our shores, Canadians have already begun to associate the Chinese brand with electrified vehicles. In fact, the manufacturer’s brand recognition already surpasses that of Nissan, BMW, and Volkswagen, among others.

When asked to name brands that came to mind when thinking of electrified vehicles (that is, hybrids, plug-in hybrids, hydrogen fuel cell, and fully electric vehicles), Canadian consumers listed BYD just as often as they did Chevrolet and Honda, per AutoTrader research. Despite that, Kia, Ford, Hyundai, and Toyota are all more closely associated with this kind of vehicle, and Tesla is the brand Canadians most closely associate with them.

More surprising still, when it comes to electric vehicles (EVs), 28 per cent of consumers with an interest in electrified vehicles said they would consider buying a vehicle from BYD. That’s just one percentage point behind Kia and Volkswagen, two brands with much longer histories in the country.

More generally, Canadians surveyed by AutoTrader were remarkably open to the idea of purchasing a Chinese vehicle. Among shoppers who intend to buy an electrified vehicle, 53 per cent said they were likely to purchase a vehicle from a Chinese brand, while 58 per cent said they were likely to purchase a Chinese-made vehicle from a more familiar brand (e.g. Volvo, Polestar, or Tesla).

That reflects the fact that 73 per cent of consumers believed that electrified vehicles from China are just as advanced as those from other countries, and the same proportion agreed that vehicles from the country are trustworthy, as long as Canadian safety and labour standards are met.

That’s not to say that Canadians have no misgivings about incoming Chinese vehicles, though. Just under half of those who intend to buy an electrified vehicle are more interested in vehicles made in Canada than they are in vehicles in other parts of the world, and 50 per cent said they were concerned about the data security of vehicles from China. Just 20 per cent said they would only buy a vehicle assembled in Canada even if it cost more money, though.

Indeed, respondents appear to be more concerned with price than they are with country of origin. Affordability is a major concern for buyers who are interested in an electrified vehicle, and 75 per cent agree that the arrival of more international brands will make them more affordable over all.

It is perhaps not a surprise, then, that consumers who are interested in electrified vehicles are aware of BYD. Not only do they believe it will be among the brands that will make electrified vehicles more affordable, the brand is also expected to be among the first to represent China in Canada, and recently took the mantle of top EV producer on earth.

Naturally, any new brand entering the market will still have a lot of work to do. Brand recognition is helpful, but surveyed consumers said that dealer networks (or some form of local support for parts, service, and warranty) were very important to them.