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New car intention still heading downhill

Source: Roy Morgan Single Source (Australia), April 2002 – August 2014, n= 683,572 (average quarterly sample n=13,482).

Following last month’s news that the number of Australians planning to buy a new car in the next four years had slipped to its lowest point since November 2012, the latest figures from Roy Morgan Research reveal that this downward trend has continued in August. In fact, the market has decreased from 2.17 million potential new car buyers to 2.07 million, a decline of more than 400,000 potential buyers since May.

Intention has also slumped further among people planning to buy a new car in the next 12 months, falling from 608,000 people as of July 2014 to 523,000 in August.

New car buying intention

new-car-intentions

Source: Roy Morgan Single Source (Australia), April 2002 – August 2014, n= 683,572 (average quarterly sample n=13,482).

Jordan Pakes, Industry Director – Automotive, Roy Morgan Research, says:

“Despite Consumer Confidence starting to stabilise in recent weeks, this has yet to have an impact on our new car buying intentions.

“Long-term intention now sits at its lowest level since August 2011, while short-term intention hasn’t been this low since February 2010. The Federal Budget in May has certainly impacted peoples’ economic optimism, and ongoing international uncertainty only serves to heighten this sense of gloom.”

For comments or more information about Roy Morgan Research’s automotive data, please contact:

Jordan Pakes, Industry Director -- Automotive
Office: +61 (3) 9224 5302
Jordan.Pakes@roymorgan.com

Related research findings

Purchase our latest detailed Roy Morgan Automotive Currency Report to learn more about automotive intentions for the different vehicle types. This report covers intentions to purchase new vehicles, future brand 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).

Purchase from our extensive and detailed range of Roy Morgan new car intender profiles by make, model and segment covering brands like Honda, BMW, Holden, Mazda, Ford, Mercedes-Benz, Subaru, Mitsubishi, Nissan and Volkswagen.

About Roy Morgan Research

Roy Morgan Research is the largest independent Australian research company, with offices in each state of Australia, as well as in New Zealand, the United States and the United Kingdom. A full service research organisation specialising in omnibus and syndicated data, Roy Morgan Research has over 70 years’ experience in collecting objective, independent information on consumers.

In Australia, Roy Morgan Research is considered to be the authoritative source of information on financial behaviour, readership, voting intentions and consumer confidence. Roy Morgan Research is a specialist in recontact customised surveys which provide invaluable and effective qualitative and quantitative information regarding customers and target markets.

Margin of Error

The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.

Sample Size

Percentage Estimate

 

40%-60%

25% or 75%

10% or 90%

5% or 95%

5,000

±1.4

±1.2

±0.8

±0.6

7,500

±1.1

±1.0

±0.7

±0.5

10,000

±1.0

±0.9

±0.6

±0.4

20,000

±0.7

±0.6

±0.4

±0.3

50,000

±0.4

±0.4

±0.3

±0.2

 Thumbnail image: copyright photomato (Flickr Creative Commons)