Second month rise in Australians Short-term Intention to buy a New Car
Thursday October 29, 2009
More Australians are considering buying a car in the next twelve months for the second month in a row, providing some comfort for the automotive and related industries.
According to figures from the Roy Morgan Automotive Leading Indicators in September 2009, there was an increase of 27,000 in the number of people with the short term intention to buy a new car in the next year, taking the figure from 565,000 in August 2009 to 592,000. These figures exclude Fleet, Government and Rental Buyers.
These results are somewhat better than the figures for Australians intending to buy a new car over the next four years, which has actually declined from August 2009 to September 2009, a fall from 2,207,000 to 1,964,000.
These results, coupled with the results from August, are the highest this figure for long term intention of buying cars is the highest it has been since July 2008, meaning that there is real potential for recovery for the automotive industry from the Global Financial Crisis.
In terms of the short term intentions to buy a new car, the figures are the highest since early 2005.
Roy Morgan Research Industry Communications Director, Norman Morris, explained that these intention levels were impacted by shifts in trends as to what kinds of cars Australian buyers were looking at buying.
"September gains in short term new car buying intention were largely driven by increased intention of Compact SUV Vehicles, with Nissan and Honda among the few brands to gain.
Mr Morris further noted that gender appeared to be a factor when it came to short term new car purchasing intentions of consumers.
"It is also interesting and important to note Women outnumbered Men in terms of short term new car buying intention in September, so brands in touch with the female consumer are well positioned to convert female intention into sales volume.
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