Introduction
Welcome to the latest FleetTrends OEM Brand Tracker.
Four hundred fleet managers were interviewed during Q3 2024on their perceptions of car and van brands in the UK.
The survey was conductedonline with a duration of twenty minutes and the audience was segmented into three categories by fleet size, sub 25 vehicles, 26-99 and 100 plus.
The survey structure remains consistent with previous research waves, with the following changes made:
1. Two brands were added to the survey, with BYD and Genesis included.
2. New additionsto the Brand Tracker include, increased insight on brand considerationopportunity throughour customer journey progression KPIs and brand growth indicator. Advertising recall metrics, most useful website and most improved EV proposition KPIs.
3. We have also included an independent metric on new entrants’ brand health.
4. New market metric – importance of EV charging solutions.
Howtousethisreport.
The survey results are shown in a consistent format of league tables for each KPI in descending order with the highest scoring brand on the left.
The question related to the chart and sample are shown on the bottom right-hand side in the footer.
The following slides outline the methodology, KPIsmeasuredand the scoring.
An illustration of generic outputs is also shown whichwill be populated in collaborationwith each brand.
We have identified the Hyundai and Genesis brands in GOLDand wave-on-wave changescan be identified within each chart in the box on the top right-hand side.
Ian Richardson
Managing
Director
360 Media Group Ltd
October 2024
Fleet Brand Tracker Methodology
Fleet Brand Health Methodology
➢ 26 Car manufacturer brands
➢ 400 Car fleet decision makers (with 6+ cars) per brand
➢ 4 Brand Opportunity KPIs
1. On the choice list
2. Consideration
3. Loyalty
4. Awareness
➢ Maximum KPI score = 100%
Fleet Brand Appeal Methodology
➢ 26 Car manufacturer brands
➢ 100 Car fleet decision makers (with 6+ cars) per brand
➢ 7 Car Brand Appeal KPIs
➢ Maximum KPI score = 10
1. Build Quality
2. Value for money
3. Reliability
4. Reputation
5. Model Range
6. Dealer network
7. Trust Maximum Brand Appeal score = 100%
EV Power Methodology
➢ 20 Car manufacturer brands
➢ 100 Car fleet decision-makers per brand
➢ 2 Brand Opportunity KPIs
➢ EV Awareness & brand consideration
➢ 7 Car Brand Appeal KPIs
➢ Maximum KPI score = 10
➢ EV car appraisal
Fleet Brand Communications Methodology
➢ 26 Car manufacturer brands
➢ 400 Car fleet decision makers (with 6+ cars) per brand
➢ 3 Car Brand CommunicationsKPIs
➢ 3 Van Brand CommunicationsKPIs
1. Received communications
2. Interacted with the brand
3. Engaged on social media
➢ Maximum KPI score = 10
➢ Communicationsscore out of 100%
➢ EV car choicelist factors for inclusion
Reports in the series Report #2 Market Outlook Report #3 Media Tracker
Executivesummary
CarBrandExecutiveSummary
Summary
The strong perception of Hyundai’s electric vehicles (EVs) has positively influenced the core brand metrics, with the overall brand health, brand appeal and communications scores all improving wave-on-wave.
The EV Power score reports an increase in brand awareness, up two place, whilst the brand appeal score is down one place, reflecting the influx of new EV models that has intensified competition in the market.
Commentary
The overall brand health score improved vs. wave 3 by five place to rank 10Th (see slide 9). Brand awareness, presence on choice list and consideration scores have all increased wave-on-wave.This aligns with the top ten position achieved for growth (ranked 8), based on the intention to place the most orders with a brand, highlighting a dynamic market with increased brand choice, more EV models and a changing landscape for choice list creation.
The overall communications score is ranked 11th (up from 16th - see slide 29) and their ranking for most useful website is 14/28.
Of those fleets that are considering a specific brand, Hyundai are ranked 14th for engagement of potential customers and 1 in 3 fleets have progressed their customer journey to the decision phase, also ranking Hyundai in 14th place.
Hyundai’s are ranked tenth for brand appeal (see slide 21). Their perception among fleet buyers is primarily driven by its, trust, model range, and confidence—key factors that define its brand proposition. All core brand appeal metrics rank within the top 12, with most showing improvement wave-on-wave. This positive sentiment is demonstrated with the growth score which places Hyundai in 8th place, meaning that of those brands considering Hyundai, they among the top third of brands positioned to receive the most orders from that fleet.
Hyundai are ranked 11th for EV Power, down one place vs. wave 3 (see slide 23). The perceptions of Hyundai’s electric vehicle proposition reflect the strength of the brand, with most improved EV Proposition placing in the Upper Quartile in 7th place. EV Brand Awareness is 10th and brand consideration is ranked 15th, which indicates an opportunity to convert the core brand interest (ranked 10th) into EV sales.
SummaryofCarBrandRankingsbyKPI-
Wave4vsW3
BrandHealthScore
Hyundai are ranked 10th, for theoverall brand health score,up five places. The scoreis theaverageof the combined brandawareness,consideration,loyaltyand choicelistscores
Q. The Brand Health Score is the average of the combined brand awareness, consideration, loyalty and choice list scores.
CarBrandsonChoiceList
Hyundai are ranked 9th, up threeplaces vs. wave3.
Car brands on choice list
Q24. Car brands on choice list
BrandAwareness
Hyundai are ranked 10th, up five places vs. wave 3.
BrandConsideration
Hyundai are ranked 10th, up four places vs. wave 3..
Car Brand Consideration
Q56. Car brand consideration
BrandLoyalty
Hyundai are ranked 10th, up five places vs. wave 3..
Car brand loyalty = on choice list and considering placing an order
AdvertisingRecall
Hyundai are ranked 8th; this is a new KPI, so no previouscomparison is available.
Q24B. Which car manufacturer brands have you seen across ANY media (i.e. print, TV, radio, internet, social media) in the last 3 months?
NEWKPI.Growthoutlook
Hyundai ranks 8th in potential fleet ordervolume,outperformingits brand consideration score.This suggeststhat once fleetsengagewith the brand, theyare morelikely to place higher order volumescomparedto competitors.
Brands likely to receive the most car orders
Which brands are you likely to place the MOST orders with?
Q56B.
NEWKPI.CustomerJourney– % fleetbuyers that
are activelyin
thecustomer journey
Of those fleetsthat are considering a specific brand, Hyundai are ranked 14th for engagementof potential customers. This is a new KPI so no previous comparisonis available.
Q56D2.Summary. Thinking about the following CAR brands, how far have your progressed in the customer journey with this brand?
NEWKPICustomerJourney
Hyundai are ranked 15th, based on those potential customersthat are in the decisionstageof the customerjourney vs. the evaluationstage.We recommendexploration and attention on wherethebuyers are stalling (if at all).
Progression in the Customer Journey by Car Brand
Evaluation stage Decision stage Linear (Decision stage ) Q56D2.Summary. Thinking about the following CAR brands, how far have you progressed in the customer journey with this brand?
NEWKPICustomerJourney
The progressionof fleetsin the customerjourney revealsthat 33% of thoseconsidering Hyundai are in the decision-making phase, leading to significant conversionopportunities.
Ordered and received delivery of a new car
Placed an order and awaiting delivery
Added brand to choice list
Agreed terms with manufacturer
Requested a quote
Had a meeting with a brand representative
Enquired via your leasing company/broker
Booked a test drive/demo vehicle
Requested a brochure
Visited their website
Q56D2.23. Thinking about the following CAR brands, how far have your progressed in the customer journey with this brand? W4
BrandAppealScore
Hyundai are ranked 10th, based on the combinedscore of sevenbrand attributes.Up five places vs. wave 3. The biggest gains are on Value for Money,Trust, Reliability and Build Quality, with modelrange theonly attributescoring lowervs. W3.
Overall CAR brand attributes
Q - How strongly do you agree that the following statements reflect these CAR manufacturer brands? Attributes: Trust, Dealer, Reputation, Reliability, Value, Build Quality and Model Range.
EVPowerKPIs
EVPowerScore
See the appendicesfor full leaguetableson allbrand attributes
OverallEVPowerCarBrandAttributes
are ranked in 11th place, down one place vs. wave
EVBrandAwareness
Hyundai rank 10th, up two places vs,wave 3.
NEWKPIEVBrandConsideration
Hyundai are ranked 15th , this is lower than the overall brand considerationat 10th and may reflectthevolumeof new modellaunches in the EV space.
Q28B.Summary. I would consider placing an order for an electric car from this brand in the next 12 months?
MostImprovedEVProposition
Hyundai rank 7th, taking a spot in the Upper Quartile,which is their highest-ranking scorein this report.
Most Improved EV Car Proposition by Fleet Size Banding
NET: cars sub 50 cars NET: cars 50 plus Total
Q24C. Which car manufacturer has demonstrated positive improvements in their EV proposition in the last 12 months, which you would vote for Most Improved Car Manufacturer?
CarCommunicationsScore
Overall,Hyundai are ranked in 11th place for theircombined communicationsactivity,up five places vs. wave 3.
Car Brand Communications Score
The combined score of 3 KPIs. Q29,30 and 52. Which of the following CAR brands have you received/interacted/engaged with in the last 6 months?
CommunicationsReceived
Hyundai are ranked in 9th place, up eight places vs. wave 3.
Communications Received by Fleet Size
Sub 50 cars Cars 50 plus Total
Q29. Which of the following CAR brands have you received any communications from in the last 6 months? E.g. phone calls, emails, newsletters, mail shots.
BrandInteraction
Hyundai are ranked in 12th place, up two places vs. wave 3.
Interaction by Fleet Size
Sub 50 cars Cars 50 plus Total
Q30. Which of the following CAR brands have you interacted with during the sales process in the last 6 months?
SocialMediaEngagement
Hyundai are ranked in 13th place, up two places vs. wave 3.
Media Engagement - by
Size
MostUsefulWebsites
Hyundai are rankedin 14th place for mostuseful website.Both sub 50 fleetsand 50 plus vehiclefleetsrate the website the same,which may be an indication in the absenceof targetedcontent.This is a new KPI.
Q30A. Thinking about the CAR brands have you interacted with during the last 6 months, which brands have the most useful websites?
Marketdata–EVindicators
New entrantbrands
ZEV Mandate
Charging solutions
ThesechartsprovidekeyheadlinesthatreflectthecurrentchallengesandopportunitiesforOEM’sastheyfacemore increasedcompetition.Foramoredetailedanalysisonthemarket,pleaseseethenewFleetOutlookReport.
NewEntrantBrandAwareness
WithGenesisand BYD now featuring in the main car brand trackingreport,Lucid have the highest awarenessof any new entrantbrand.
Brand Awareness of New Entrants Wave 4 vs. Wave 3
Wave 4 Wave 3
Q - Thinking about new CAR brands launching new models in the UK, which of the following manufacturers are you aware of offering one or more pure electric CARS (BEVs) in their range?
Wave 4 n=400
Lucid LEVC NIO Ora Xpeng Omoda by Chery Automotive
Jaecoo Aiways Genesis BYD Leapmotor
NewEntrantBrandConsideration
With Genesis and BYD now included in the main car brand tracking report, Lucidleads all new entrants in brand consideration. However, these new brands have yet to gain significant traction in the fleet sector. Brands like NIO are not yet available in the UK, while others suchas Omoda and Jaecoo present limited opportunities.
Consideration - First Choice Brand
HowistheZEVMandateimpactingfleet?
52% of fleetsagreethat the ZEV Mandateis impacting theirability to order thevehiclesthat their driverswant.
Impact of the ZEV Mandate on ability to order the company cars that our drivers want
Q23B. Please respond to the following statement: The Zero Emissions mandate (ZEV)is impacting our ability to order the company cars that our drivers want?
EVChargingSolutions
Overall, 64% of fleets think that it is very importantfor car manufacturerstooffer chargingsolutions. This provides an opportunity for fleets tosimplify their spend,access expertiseand save drivers time& hasslefrom arranging their own charging.
Importance of OEM's Offering EV Charging Solutions
Q26A. How important is it that Car and Van Manufacturers offer solutions for home, workplace and public charging?
EVChargingbytype
Fleetshave the appetite to invest in bothworkplace and home chargingand requiresolutions tohelp them navigate battery storageand energy capabilities. Theyalso value public chargingexpertise which to help their drivers optimise alternative charging. This is an opportunityfor OEMs toprovide and communicatetheirsolutions.
Interest in EV Charging & Energy Solutions
Q26B. Which of the following charging solutions are you most interested in?