The number of Australians intending to buy a new car in the next 12 months is 519,000. This figure is down on the June 2010 figure of 557,000 and remains below the short-term average*.
New Car Buying Intention
Source: Roy Morgan Single Source (Australia); January 2002 – August 2010, n=477,575 (average monthly sample n=4,592). *Short & Long Term Average = January 2002 – August 2010.
Norman Morris, Industry Communications Director, Roy Morgan Research, says:
“After strong monthly results in June and July, it’s very promising to see that even with a minor decrease in long-term intention; the August figure is still in a strong position. This result suggests that private buyers are looking to return to the market and the outlook for the automotive industry remains promising.
“In late 2008/2009, the GFC hit the automotive industry hard both locally and overseas. The average long-term new car buying intention figure – the estimated number of Australians intending to buy a new car in the next 4 years – averaged out at less than 2 million. In 2010, long term new car buying intention has improved to over 2.1 million, a significant increase over the past nine months, indicating a strong period of industry growth ahead.
“At a brand level, the luxury buyers appear to be back, with BMW, Mercedes-Benz and Audi’s long-term intention results improving strongly over 2010. Each of the luxury manufacturers has introduced an array of new and face-lifted models in 2010 such as the popular new BMW X1 and Audi S5 Sportsback. The other two big improvers in 2010 are Hyundai and Volkswagen, with Hyundai in particular introducing many new models in 2010.
“The complete Roy Morgan Automotive Leading Indicators Report, which is now available for purchase, delivers detailed coverage of the health of the Australian automotive market.”
Click here to purchase detailed profiles of Intending New Car Buyers or the Roy Morgan Automotive Leading Indicators Report - which provides an understanding of those people who are intending to buy a new vehicle and outlines whether they are going to purchase new or used and which brands and segments they are intending to purchase.
For more details contact: