After finishing the year with record new car sales in 2012, the market looks likely to remain strong in 2013, with an estimated 642,000 Australians intending to buy a new car over the next 12 months. This figure for December is the third consecutive month of improvement. These results came from the Roy Morgan Single Source survey of over 50,000 interviews annually.
Over the longer term, an estimated 2,225,000 Australians are intending to purchase a new car in the next four years. This is slightly down on recent months but remains over 140,000 units above the long term average.
New Car Buying Intention
Source: Roy Morgan Single Source (Australia): April 2002 – December 2012, n=599,639 (avg. quarterly sample n = 13,636). 1Long Term Average = Four year new car buying intention, April 2002 – December 2012. 2Long Term Average = One year new car buying intention, April 2002 – December 2012.
Norman Morris, Industry Communications Director, Roy Morgan Research, says:
“With new vehicle sales in 2012 finishing the year at an all time record of 1,112,032 units, both long and short term new car buying metrics have also ended the year on a positive note. The RBA’s December decision to cut interest rates by a further 25 points appears to have had a positive impact on consumer confidence for the December Quarter, moving back up above 115, with the auto industry a potential beneficiary.
“Short term intention levels are at an equivalent position to 12 months ago and it will be important to track whether this metric improves as strongly as it did over the first half of 2012.
“In terms of which brands have shown the most positive growth in purchase intentions over the last 12 months, of the mainstream brands Subaru and Hyundai have shown the greatest gains – while luxury brand BMW also had a strong 2012.
“The complete Roy Morgan Automotive Leading Indicators Report delivers detailed coverage of the health of the Australian automotive market.”
Roy Morgan Research
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.
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