The number of potential new car buyers in Australian has increased over the last few months, with the latest figures from Roy Morgan Research revealing that 2,249,000 people plan to buy a new car in the next four years. Despite recent growth, the current pool of people in the market for a new car remains marginally below the equivalent period in 2014, but has moved back above the long-term average.
Intention has also improved among people intending to buy a new car in the next 12 months, climbing by 56,000 units to 537,000 in January 2015.
New car buying intentions
Source: Roy Morgan Single Source (Australia), March 2002 – January 2015, n=704,474 (average quarterly sample n=13,461).
Jordan Pakes, Industry Director – Automotive, Roy Morgan Research, says:
“After a sustained period of contraction over much of 2014, the number of Australians in the market for a new car has started to grow again over the last few months.
“Consumer confidence remains relatively stable, with the predicted positive impact of lower petrol prices being off-set by the declining Aussie dollar. It will be interesting to see if the February rate cut has a further positive effect on the overall market size.
“Among the brands driving this overall growth, Subaru and Mazda have been the big movers since October 2014. In fact, an additional 65,000 Australians are now in the market for a new Subaru compared to three months ago.”
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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