Car buying demand in Australia has peaked, with consumers more eager to buy new cars than at any time since before the COVID-19 pandemic, according to the latest carsales survey data.
In an onsite survey on carsales.com.au between September 14-16, 27.9% of survey respondents indicated that they were “ready to buy NOW.”
The result is the strongest since carsales began to survey the sentiment of car buyers in relation to the impact of COVID-19.
As COVID-related restrictions have eased across much of Australia and consumer optimism increased, so too has consumers’ urgency to buy a new car. In July 2020, 26.8% of respondents to a indicated that they were “ready to buy NOW”, up from 20.6% and 16.8% recorded in May and April respectively.
In the most recent September survey, a further 21.9% of respondents indicated that they were ready to buy ‘within the next month.”
“Overall, the survey results spell good news for the auto industry,” said Deb Heaphy, Head of Customer Experience at carsales.
“Concerns around the hygiene of public transport and ridesharing services, in addition to an influx of new licence holders and first-time car buyers, is driving increased urgency to buy,” explained Heaphy.
Stage 4 COVID-19 restrictions have had mixed effects on Victorian car shoppers.
Almost 40% of consumers respondents indicated that they’re now “further than a month out” from purchase, up from July’s result. However, in positive news for dealers, almost 30% of Victorian survey respondents indicated they were “ready to buy NOW,” also up from July’s result and indicating pent-up demand.
Travel restrictions and logistics of taking test drives continue to be the biggest concerns for Melbourne car shoppers, increasing from July’s survey result.
Melbourne dealerships are currently open for scheduled or routine servicing only.
Strong shopping engagement on carsales.com.au continued in August 2020 with Australia’s #1 for cars posting a Unique Audience (UA) of 4.65m according to Nielsen’s Digital Ratings Monthly report. The August result was 30% higher than the same month in 2019 and outperformed the automotive category according to Nielsen.
Further reading:
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Tesla approaching 10,000 sales in Australia
