Friday, June 8th, 2012 - Roy Morgan Research
An estimated 2,271,000 Australians (excluding fleet government & rental buyers) are intending to buy a new car in the next four years according to the latest Roy Morgan Leading Indicators Report for April 2012. This is down only marginally on the March result of 2,290,000, but remains well above the long-term average1 of 2,076,000. These results came from the Roy Morgan Single Source survey of over 50,000 interviews annually.
 
In the shorter term, an estimated 706,000 Australians intend to buy a new car in the next year, a decline of 35,000 vehicles since the March 2012 figure of 741,000 but still well above the long-term average2 of 615,000.


New Car Buying Intention


Source: Roy Morgan Single Source (Australia): April 2002 – April 2012, n=565,697 (average quarterly sample n = 13,683). 1Long Term Average = Four year new car buying intention, April 2002 – April 2012. 2Long Term Average = One year new car buying intention, April 2002 – April 2012.


Norman Morris, Industry Communications Director, Roy Morgan Research, says:
 
“In line with declining consumer confidence, both short and long term new car buying intention figures are down in April. With interest rate decisions generally having an impact on consumers’ intentions to purchase new cars, it will be interesting to see what happens in May given the RBA’s decision to cut the cash rate by 0.5%. The June reduction of 0.25% by the RBA is also likely to have a positive impact on car buying intentions.

“Not all brands have suffered lower levels of buying intention with the mainstream brands, Nissan, Volkswagen and Subaru showing increases.

“Among luxury brands BMW performing strongly with nearly 80,000 people intending to buy a BMW in the next four years. Much of the brand’s increase can be attributed to the all-new 3-Series, which has shown strong buying intention since its launch in March.

“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 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).

An extensive range of detailed Roy Morgan new car intender profiles by make, model and segment covers brands like Honda, BMW, Holden, Mazda, Ford, Mercedes-Benz, Subaru, Mitsubishi, Nissan & 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, purchase intentions, automotive, cars

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