2,210,000 Australians intend to buy a new car sometime before 2020—including 585,000 hoping to be huffing that new car smell by the end of 2016, the latest automotive currency data from Roy Morgan Research shows.
The number of Australians who intend to buy a new car in the next four years recovered slightly over the summer after decreasing throughout most of 2015. Four-year intention is now back above the long-term average since 2002.
Near-term intention to buy a car in the next 12 months also showed signs of recovery in the last two months after weakening from June to November last year.
New car buying intentions
Source: Roy Morgan Single Source (Australia), January 2002 – January 2016, rolling monthly average quarterly sample n=13,405 Australians 14+
Jordan Pakes, Industry Director -- Automotive, Roy Morgan Research, says:
“In line with sales according to VFACTS, car buying intentions have increased in January – with around 2.21 million Australians in the market for a new car privately in the next four years. This is marginally down on 12 months ago, but remains above the long term average of 2.13 million.
“Around 30% of Australia’s new car intenders plan to buy either a Toyota or Mazda in the next four years—up almost 3% points compared with a year ago. So although there are still slightly fewer intenders in the market overall, these top two makes have actually gained around 50,000 potential buyers between them. Other volume makes with more potential buyers now than a year ago include Ford and Hyundai.
“Helix Personas gives auto companies, agencies and marketers a way to segment the market based on in-depth geo-psychographic profiles—so each potential buyer can be better understood and more accurately targeted.”
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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