Wake Australians up when September ends… to buy a new car
For the fourth month in a row, the number of hopeful new car purchasers has increased.
Australians sure do love new cars. In fact, 2.491 million of us intend to purchase a new vehicle in the next four years as of September 2017, an increase of 184,000 over the previous four months. The results come from Roy Morgan's Automotive Currency Report which surveys 50,000 customers each year.
Roy Morgan industry communications director Norman Morris says there has been "considerable optimism" in new vehicles as evidenced by confidence among new vehicle buyers and a steady increase in new car buyer intentions.
"Although VFacts sales to September are only up marginally on last year, strong intention levels indicate that it is likely to be another good year for the industry," he said.
The latest numbers put new vehicle buying intentions close to record levels and mark the fourth consecutive month of increases. This latest result is only slightly below the 15-year high recorded in February 2017.
In terms of which vehicles Australians are opting for, Morris says many new car buyer intentions are aimed at passenger vehicles.
"Although intention for passenger vehicles has been on a long-term downward trend, they remain the most popular type of vehicle among intenders, with 1.036 million, up 87,000 over the last month. SUV intenders continue their long-term growth but only showed a gain of 8,000 for the month and are now on 914,000."
Morris adds that not all brands have participated in the rising four-year intentions.
"The major growth in share over the last twelve months [came] from Honda, Mazda, Tesla, Mitsubishi, Subaru, Volvo and Skoda."
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