With the Australian new car market currently in decline, automotive brands face even stiffer competition than usual for the motoring public’s business. How a brand is perceived can be instrumental to its success in these challenging times — is it a company that can be trusted, for example? The latest findings from Roy Morgan Research reveal that Australians have lost faith in a number of big-name brands over the past year.
They still trust Toyota though, with 34.3% of new car intenders (who drive) agreeing that Toyota is a company that can be trusted, maintaining its lead over premium brands BMW and Mercedes-Benz, both of which are down on the same time last year.
Top 10 trusted auto brands by new car intenders
Source: Roy Morgan Single Source (Australia), August 2013 – July 2014 (n=1,811). Average = average result for all 17 brands tracked.
Jordan Pakes, Industry Director -- Automotive, Roy Morgan Research, says:
“Brand perception is all-important when it comes to staying competitive in the automotive market, whether it’s booming or not. Buying a new car is a major financial commitment, with the average new car buyer looking to spend about $34,500 on their next purchase. If they don’t trust a brand, it’s unlikely they’ll part with their hard-earned dollars.
“In the past 12 months, Australia’s new car intenders have lost trust in several automotive brands, with the industry’s average trust levels dropping by almost 11%.
“Most notable is the continued decline in trust for iconic brands Holden and Ford — which is hardly surprising given the negative press surrounding the pending closure of both brands’ local manufacturing operations. Interestingly, trust in Toyota (also soon to cease Australian production) has remained stable over this same period...”
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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