Slowdown in new vehicle buying intentions but increasing interest in Hybrids

Original article by Roy Morgan
Market Research Update – Page: Online : 27-May-19

Roy Morgan’s latest ‘Automotive Currency Report’ shows that in the March 2019 quarter 1.889 million Australians aged 14+ said they intend to purchase a new vehicle in the next four years, down 435,000 or 19.1% from the same time last year. This level is also well below the 17-year long-term average of 2.155 million. Although intentions are well down, an increasing proportion of intenders say that their next vehicle is most likely to be a hybrid, up to 10.1% (from 5.6% a year ago). In addition to weakening year-on-year levels of vehicle buying intentions, one-year intentions are down by 136,000 (22.2%) over the same time last year. Currently, 476,000 Australians intend to purchase a new vehicle in the next 12 months, well down from the 612,000 last year and the long-term average of 611,000. These low intention levels are a further indication that 2019 is looking not looking positive for new vehicle sales. The report is based on data collected from Roy Morgan’s Single Source Survey, which is from in-depth personal interviews conducted face-to-face with over 50,000 Australians per annum in their homes.

CORPORATES
ROY MORGAN LIMITED

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