Consumer new car intention hits three-year low in September

Roy Morgan Research has revealed just 2,066,000 Australians are looking to purchase a new model in the next four years, the lowest figure recorded since August 2011.

The figure is slightly less than the 2,070,000 potential buyers recorded the previous month and there has been a decline of over 400,000 potential buyers since May.

Automotive industry director at Roy Morgan Research Jordan Pakes said the low figures reflect uncertain feelings about Australia’s economic position.

“While consumer confidence is relatively stable, and has been for the last few months, Australians are not feeling too positive about the country’s economic outlook,” he said.

“More of us [are] expecting bad times than good over the coming year.”

Despite the low figures, not all brands are feeling the pinch. An additional 22,000 people are in the market for a Mitsubishi now compared to 12 months ago, with the Triton, Pajero and Outlander driving the brand’s overall growth.

If you’re purchasing some new wheels, search for a competitive car insurance deal here.