A new report has made interesting reading for the automotive industry with confidence rising, the internet now becoming the more useful media for car sales and Holden leading in the brand currency stakes.

The Roy Morgan Research Automotive Currency Report covers key consumer marketing metrics of new car buying intention, brand awareness, consideration, advertising recall, brand rejection, brand loyalty and satisfaction.

According to the report, consumer confidence has returned to a comparable level to prior to the ‘global financial crisis.’

According to Roy Morgan, rising consumer confidence points to the automotive market returning to health in 2010, as it is usually consumer reaction to an event, rather than the event itself, that has the greatest impact on the economy.

Interestingly for dealers, the report notes that the internet, which includes traditional content now delivered online, has clearly overtaken newspaper as the media ‘considered most useful’ when it comes to purchasing a new car, and is a vital medium for automotive communications strategy (refer chart).

Norman Morris, industry communications director for Roy Morgan Research notes the industry is looking at a bright future based on confidence.

“Consumer confidence, which fell sharply amid concern of Australia being drawn into the ‘global financial crisis,’ has returned to levels recorded prior to the economic downturn and suggests 2010 will be a healthier year than 2009 for the Australian automotive industry.

“However, much will depend on the impact of the removal of government stimulus and changes to tariff levels,” Morris noted.

For automotive brands, it is Holden and a number of import brands that are set to be the winners.

“Although coming off a disastrous low, the report suggests the worst may be behind Holden and also points towards a bright year ahead for Mazda, Hyundai and Audi.”

“Subaru’s satisfaction and loyalty figures remain well above direct competitors.”

source: Autofile