New cars in Australia to reach 620,000 by next year

November 2011

More than 620,000 Australians plan to buy a new car in the next 12 months, according to new research.

Data compiled for Roy Morgan's Leading Indicators Report showed consumer confidence and "intention to buy a new car" levels have increased for the first time in six months.

The analysts predict that a total of 2.1 million new cars will be purchased by Australians in the next four years.

The Roy Morgan figures exclude fleet, government and rental buyers and - while historically overestimating the number of new cars actually purchased by private buyers - generally offer an accurate indication of potential movement in the industry.

October VFACTS figures also indicate that the car industry has had a significant year, with a total of 837,324 new cars sold in the first 10 months of this year.

It is expected that the Australian automotive industry as a whole is on track to exceed one million sales in 2011 - only the fourth time in history the seven-figure milestone has been cracked.

For those looking to help the industry achieve the result before the end of the year may benefit from the expert information offered by visiting a new car dealership.