In the shorter term, an estimated 706,000 Australians intend to buy a new car in the next year, a decline of 35,000 vehicles since the March 2012 figure of 741,000 but still well above the long-term average2
New Car Buying Intention
Source: Roy Morgan Single Source (Australia): April 2002 – April 2012, n=565,697 (average quarterly sample n = 13,683). 1Long Term Average = Four year new car buying intention, April 2002 – April 2012. 2Long Term Average = One year new car buying intention, April 2002 – April 2012.
Norman Morris, Industry Communications Director, Roy Morgan Research, says:
“In line with declining consumer confidence, both short and long term new car buying intention figures are down in April. With interest rate decisions generally having an impact on consumers’ intentions to purchase new cars, it will be interesting to see what happens in May given the RBA’s decision to cut the cash rate by 0.5%. The June reduction of 0.25% by the RBA is also likely to have a positive impact on car buying intentions.
“Not all brands have suffered lower levels of buying intention with the mainstream brands, Nissan, Volkswagen and Subaru showing increases.
“Among luxury brands BMW performing strongly with nearly 80,000 people intending to buy a BMW in the next four years. Much of the brand’s increase can be attributed to the all-new 3-Series, which has shown strong buying intention since its launch in March.
“The complete Roy Morgan Automotive Leading Indicators Report delivers detailed coverage of the health of the Australian automotive market.”
To learn more about automotive intentions for the different vehicle types, purchase our Automotive Currency report, which covers intentions to purchase new vehicles, future intentions and recent sales, loyalty and satisfaction, brand health, automotive attitudes, car servicing and use of the internet for vehicle related content. Brands are reported individually within three distinct groups; Local Manufacturers (Toyota, Holden and Ford), Mid Volume Importers (Mazda, Mitsubishi, Honda, Nissan, Subaru, Volkswagen and Hyundai) and Luxury Brands (BMW, Mercedes Benz, Audi and Lexus).
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