After finishing the year with record new car sales in 2012, the market looks likely to remain strong in 2013.
An estimated 642,000 Australians intend to buy a new car over the next 12 months, according to Roy Morgan research.
This figure, for December, is the third consecutive month of improvement.
Over the longer term, an estimated 2,225,000 Australians are intending to purchase a new car in the next four years. This is slightly down on recent months but remains over 140,000 units above the long term average.
“With new vehicle sales in 2012 finishing the year at an all time record of 1,112,032 units, both long and short term new car buying metrics have also ended the year on a positive note,” says Norman Morris, industry communications director at Roy Morgan.
“The RBA’s December decision to cut interest rates by a further 25 points appears to have had a positive impact on consumer confidence for the December quarter, moving back up above 115, with the auto industry a potential beneficiary.
“Short term intention levels are at an equivalent position to 12 months ago and it will be important to track whether this metric improves as strongly as it did over the first half of 2012.
“In terms of which brands have shown the most positive growth in purchase intentions over the last 12 months, of the mainstream brands Subaru and Hyundai have shown the greatest gains — while luxury brand BMW also had a strong 2012,” adds Morris.
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