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SUVs gaining popularity as new car buying intention softens

Source: Roy Morgan Single Source Survey (Australia), February 2002 – February 2018, 3 month moving average, average quarterly sample =13,275. Base: Australians 14+.
Some 2.28 million Australians intend to purchase a new vehicle in the next four years. This is just below the same period last year (2.55 million), the current record for intention to purchase a new vehicle. And intention to purchase a new vehicle in the next 12 months has dropped to below 600,000 for the first time in over a year.

These results are from Roy Morgan’s Single Source survey of over 50,000 consumers per annum. The latest data is for the three months ended February 2017.
12 month intentions are down by 90,000 over the same period last year, currently on 587,000. This highlights the decline in short term intentions to purchase a new car.


New Vehicle Purchase Intention: February 2018




Source: Roy Morgan Single Source Survey (Australia), February 2002 – February 2018, 3 month moving average, average quarterly sample =13,275. Base: Australians 14+.


SUV, four door and hatchback the most desired styles


Among intending new vehicle buyers over the next four years, there is an increasing level of interest in SUVs. 623,000 Australians aged 14+ intend to buy a new SUV/4WD, five seater within the next four years, up 156,000 compared to the same period last year.

Four door and five door (hatchback) cars are the second and third highest respectively, but have experienced a fall in preference when compared to the same period last year. 483,000 Australians intend to by a four door sedan in the next four years (down 109,000) and 319,000 intend to by a five door (down 180,000).

This highlights the change in Australians car choices, with SUVs increasing dramatically compared to smaller sedans and hatchbacks.

Car Body Style most likely to purchase new in the next four years


Source: Roy Morgan Single Source Survey (Australia), December 2016 – February 2017, n = 11,958. December 2017 – February 2018, n = 11,750. Base: Australians 14+ intending to purchase a new car in the next 4 years,


Norman Morris, Industry Communications Director, Roy Morgan says: 

“Over the last decade or more, there has been considerable growth in the new vehicle market with rising intention of purchasing a new car in the next four years, but we are now seeing a softening in the market

“We have already seen some early signs of changes in this industry, particularly in the very rapid changes in body style preference, the move away from four and five door cars to SUVs.

“Roy Morgan has been collecting and analysing a wide range of automotive data for many years across all the major manufacturers and as a result have a database uniquely suited to tracking consumer behaviour and attitudes in this fast changing industry.

“The Automotive Currency Report is a quarterly report that provides valuable information on a range of key measures and covers both luxury and non-luxury brands.”

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About Roy Morgan

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

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