For the automotive industry, 2013 commenced positively with both long and short-term new car buying intentions on the rise. April was a record-breaking month, a decline followed in May, with a rebound in June. There are now an estimated 2,326,000 Australians intending to buy a new car in the next 4 years, an increase of 46,000, bolstering intentions since May’s result of 2.280 million. These results are gleaned from Roy Morgan Single Source, an on-going survey comprising over 50,000 interviews annually.
There are now an estimated 688,000 Australians intending to buy a new car in the next 12 months; up by 10,000 from the May result.
Source:Roy Morgan Single Source (Australia): April 2002 – June 2013, n=624,980 (avg. quarterly sample n = 13,582).
(1) Long Term Average = Four year new car buying intention, June 2002 – June 2013.
(2) Long Term Average = One year new car buying intention, June 2002 – June 2013.
Norman Morris, Industry Communications Director, Roy Morgan Research, says:
“The Australian automotive industry has seen a positive shift in intention over the June period in the face of falling consumer confidence, combined with the declining value of the dollar and no reduction in RBA interest rates. The automotive market is increasingly competitive with many manufacturers offering extended warranties and low (or zero) interest rates to gain market share. Now is a good time to buy that new car.
“In the shorter term (one year), purchase intention for the Small Car segment (26.3%) is strong, while the SUV segment continues its popularity at 27.6%. Toyota maintains its lead of the brand pack with 17.3% share.
“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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