The number of potential new car buyers in Australian has continued its downward trajectory, with the latest figures from Roy Morgan Research revealing that 2,066,000 people plan to buy a new car in the next four years – the lowest since August 2011. But could there be light at the end of the tunnel? After all, this month’s decline is not quite as steep as the drop-off we reported last month…
Intention has also fallen among people intending to buy a new car in the next 12 months, slipping from 523,000 as of August 2014 to 502,000 in September.
New car buying intentions
Source: Roy Morgan Single Source (Australia), March 2002 – September 2014, n=660,542 (average quarterly sample n=13,486).
Jordan Pakes, Industry Director -- Automotive, Roy Morgan Research, says:
“While consumer confidence is relatively stable, and has been for the last few months, Australians are not feeling too positive about the country’s economic outlook, with more of us expecting bad times than good over the coming year.
“Not all brands are suffering though, with an additional 22,000 people in the market for a Mitsubishi now compared to 12 months ago – with the Triton, Pajero & Outlander driving the brands overall growth.”
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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