Monday, March 26th, 2012 - Roy Morgan Research
According to the latest Roy Morgan Leading Indicators Report for February 2012, an estimated 2,321,000 Australians (excluding fleet government & rental buyers) are intending to buy a new car in the next 4 years. This is the highest level reached in the last 10 years and is up on the January result of 2,295,000, remaining well above the long-term average1 of 2,072,000. These results came from the Roy Morgan Single Source national survey of over 50,000 face to face interviews annually.
 
In the shorter term an estimated 684,000 Australians intend to buy a new car in the next 12 months a decline of only 3,000 vehicles on the January 2012 figure of 687,000 well above the short-term average2 of 613,000.


New Car Buying Intention


Source: Roy Morgan Single Source (Australia): April 2002 – February 2012, n=556,783 (average quarterly sample n = 3,681). 1Long Term Average = Four year new car buying intention, April 2002 – February 2012.
2Short Term Average = One year new car buying intention, April 2002 – February 2012.


Norman Morris, Industry Communications Director, Roy Morgan Research, says:
 
“For the sixth consecutive month, long-term new car buying intentions have improved, with more than 2.3 million Australian’s currently in the market for a new car in the next 4 years – an all-time record result.

“This strong result bodes well for the automotive industry, which still managed to hit one million sales in 2011 in spite of all the well publicised global issues. With 2012 starting the year so strongly, it will great to see where the market ends up in 2012.

“With much of the markets volume coming from the major importers, the strong Australian dollar is certainly helping the Japanese, Korean and European brands to offer their vehicles at competitive prices. Combined with the interest rate cuts in late 2011 and consumer confidence sitting at around 115 in February 2012, these are all factors impacting consumer’s decisions to enter the new car market.

“Of the mainstream brands, Ford, Honda, Hyundai and Volkswagen have shown the greatest gains in buying intentions over the last six months; while Mercedes-Benz and BMW continue their struggle for top luxury brand honours, with both brands up over this same period and Lexus also showed good gains.

“The complete Roy Morgan Automotive Leading Indicators Report delivers detailed coverage of the health of the Australian automotive market.”



To learn more about automotive intentions for the different vehicle types, our detailed Roy Morgan Automotive Currency Report covers intentions to purchase new vehicles, future intentions and recent sales, loyalty and satisfaction, brand health, automotive attitudes, car servicing and use of the internet for vehicle related content. Brands are reported individually within three distinct groups; Local Manufacturers (Toyota, Holden and Ford), Mid Volume Importers (Mazda, Mitsubishi, Honda, Nissan, Subaru, Volkswagen and Hyundai) and Luxury Brands (BMW, Mercedes Benz, Audi and Lexus).

Our extensive range of detailed new car intender profiles by make, model and segment covers brands like Honda, BMW, Holden, Mazda, Ford, Mercedes-Benz, Subaru, Mitsubishi, Nissan and Volkswagen

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Roy Morgan Research is Australia’s best known and longest established market research and public opinion survey company. Roy Morgan Single Source is thorough, accurate, and provides comprehensive, directly applicable information about current and future customers. It is unique in that it directs all the questions to each individual from a base survey sample of around 55,000 interviews in Australia and 15,000 interviews in New Zealand annually - the largest Single Source databases in the world. The questions asked relate to lifestyle and attitudes, media consumption habits (including TV, radio, newspapers, magazines, cinema, catalogues, pay TV and the Internet), brand and product usage, purchase intentions, retail visitations, service provider preferences, financial information and recreation and leisure activities. This lead product is supported by a nationally networked, consultancy-orientated market research capability.
Shaun Ellis
P: 03 9224 5332
W: www.roymorgan.com

Keywords

new car buying, Roy Morgan Leading Indicators, purchase intentions, automotive

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