It's not as much a case of who Morgan's competitors are, but more likely who do Morgan aspire to compete with.
I think that the factory (management team) have aspirations to become real car manufacturers and mix it with the big name competition.

I think that one of the main reasons that Morgan have survived so long is that they built a car that was so outdated, so ridiculous, so niche, that they had no direct competitors.
When you combine a product like that with a fanatically loyal group of owners/buyers you have a guaranteed recipe for success.

When other British sports car manufacturers modernised and updated or developed their product to meet the demands of progress, Morgan didn't........ Morgan survived........

They have now entered a market where it is possible to draw comparisons to other vehicles, price being a principal one.
Buyers at the price point that Morgan are now at, demand a level of sophistication and quality that Morgan have never been able to achieve in the last 110 years or so....!

Trad chassis cars are basic, that's the beauty of them for me. When you start adding 'creature comforts' and the sort of tech that you might find in a robot built and computer designed German sports car you've lost the point of a Morgan....imho.....