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Unpacking the Automotive Finance Customer Journey

Welcome to the first of three articles, exploring different aspects of the 2022 Automotive Finances Insights study. In this one, we introduce the customer journey, looking at how it can vary across different consumer segments.

More than 9 million Australian households currently own at least 1 vehicle, with over a third (3.2 million) having used finance to fund at least some of their purchases. While there is no doubt that this offers significant opportunities for OEMs, financiers, and other associated businesses, it is important to remember that these purchases can follow extremely different paths. It is therefore critical to understand the customer vehicle selection and finance journey, and the key needs of consumers as they move through its different stages.

Topics: Market Research Financial Services Automotive Research Thought Leadership Research automotive trends automotive news

2022 Trends in Australian Fuel Usage

Over the past couple of years, we've heard a lot about decreased mobility (i.e. people working from home with their car spending more time sitting in the garage. Various data sources support this, demonstrating that overall levels of movement have been down through the pandemic, with more localised activities (e.g. trips to neighbourhood parks) becoming more common. 

Topics: Automotive Research Thought Leadership Research automotive trends autonomous vehicles automotive news

SMEs Positive but War & Weather Likely to Dampen Sentiment

Updates to this research will be published monthly to track the impact and response to COVID-19. View Previous Wave.

Topics: Market Research Healthcare Research Thought Leadership Research COVID-19 SME Tracker

Omicron Economic Rebuild: Australia's Strong Finish to 2021

With just under 80% of all Australians receiving at least 2 doses of the COVID-19 vaccine by the end of 2021, businesses were finally given a fighting chance to return to normality. Whilst booster shots are still being rolled out and restrictions are still varied from state to state, the following data indicates that the Australian economy is slowly rebuilding and becoming more resilient to the disease despite record case numbers with the arrival of the Omicron variant in late November.

Topics: Market Research Financial Services Automotive Research Thought Leadership Research Consumer Confidence Business Confidence

SME Confidence Weaker as Economic Outlook Fluctuates

Updates to this research will be published monthly to track the impact and response to COVID-19. View Previous Wave.

Topics: Market Research Healthcare Research Thought Leadership Research COVID-19 SME Tracker

Commercial Vehicles Kick The Year Off With A Bang

The first month of 2022 vehicle sales data from VFACTS is out and makes for interesting reading. January saw 75,863 new vehicles sold (down 3,803 from last year), as OEMs continue to face global supply shortages. While there is hope these shortages will ease as the year continues, it's not all bad news. Where vehicles are available, sales results are strong, with Micro cars, People Movers, Utes, and Light SUVs all performing well. Looking at commercial vehicles beyond utes, we can also see strong results for Smaller Light Buses (<20 seats), and the Heavy Commercial segment. At a category level though, it's definitely commercial vehicles leading the way as we move into 2022.

Topics: Automotive Research automotive trends vfacts

2021 Vehicle Sales Trends in the Australian Automotive Market

Australian new vehicles sales in 2021 were surprisingly strong given the ongoing dual challenges of the pandemic and microprocessor shortages impacting global supply chains. Well over a million vehicles sold through the calendar year, which meant the total market increased by 14.5% from the 2020 result. This took it back towards the pre-pandemic volumes of 2019, but remains more than 100,000 units below 2018, highlighting the significant ground that’s still left to be made.

Topics: Automotive Research Thought Leadership Research automotive trends vfacts automotive news

Positive End to 2021, But SME Confidence is Weakening as COVID Cases Accelerate

Updates to this research will be published monthly to track the impact and response to COVID-19. View Previous Wave.

Topics: Market Research Healthcare Research Thought Leadership Research COVID-19 SME Tracker

SMEs Ramp Up Recruitment As Sentiment Strengthens

Updates to this research will be published monthly to track the impact and response to COVID-19. View Previous Wave.

Topics: Market Research Healthcare Research Thought Leadership Research COVID-19 SME Tracker

SMEs Remain Cautious, but Sentiment Continues to Strengthen

Updates to this research will be published monthly to track the impact and response to COVID-19. View Previous Wave.

Topics: Market Research Healthcare Research Thought Leadership Research COVID-19 SME Tracker