Australians still love buying cars

A love of cars is ingrained in the hearts of many Australians, especially those who were passionate enough to side with either Holden or Ford in the glory days of the country's automotive manufacturing industry. 

But has this love continued in a time where fuel consumption trumps horsepower? According to Roy Morgan Research, it has indeed. 

How many cars are we talking?

Well over 2 million, if forecasts from Roy Morgan Research are to be believed. This is slightly down on the numbers recorded last month, yet still enough to spur vehicle sales. 

The company's latest study found that 2.3 million Australians are planning to buy a new car at some point within the next few years, which will create extra work for fleet managers if these are purchased through novated leases. 

Despite long-term purchasing intentions seeing a minor dip, short-term desires have increased, putting them roughly on par with this time last year. Across the country, 605,000 drivers are in the hunt for a new car, up from 598,000 recorded last month. 

Overall in March, just over 100,000 cars were sold, with Roy Morgan Research confident this has put an end to the slump in new car purchases seen observed last year. According to the firm, however, the outlook for the rest of the year is reliant on a number of external influences. 

"Several factors will be at play in the next few months: low interest rates; the full impact of the Japanese Free Trade Agreement resulting in lower prices for cars imported from Japan; the falling Aussie dollar and increased concern about unemployment and the Australian economy," said Industry Director for Automotive at Roy Morgan Research, Jordan Pakes. 

"These may well impact on new car buying intention and sales – as may the next budget, which is upon us."