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 the largest independent Australian research company, with offices in each state of Australia, as well as in New Zealand, the United States and the United Kingdom. A full service research organisation specialising in omnibus and syndicated data, Roy Morgan Research has over 70 years’ experience in collecting objective, independent information on consumers.
In Australia, Roy Morgan Research is considered to be the authoritative source of information on financial behaviour, readership, voting intentions and consumer confidence. Roy Morgan Research is a specialist in recontact customised surveys which provide invaluable and effective qualitative and quantitative information regarding customers and target markets.
P: +61 3 9224 5209