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Mercedesrsquo Australian sales outpacing luxury rivals BMW Audi
<p><strong>Mercedes&rsquo; Australian sales outpacing luxury rivals BMW, Audi.</strong></p>

Follow the Money, Oz Car-Shopper Survey Suggests

The Roy Morgan Research survey finds high-income households plan to spend almost A$50,000 ($35,255) on their next new car &ndash; about a third higher than the national average of A$36,840 ($25,975).

Affluent Australians intending to buy a vehicle in the next four years are looking for top-shelf product.

Roy Morgan Research says its latest survey finds high-income households plan to spend almost A$50,000 ($35,255) on their next new car – about a third higher than the national average of A$36,840 ($25,975) planned by the more than 2.2 million Australians intending to buy a new car in the next four years.

Their average household income is A$133,000 ($93,786) a year and their average anticipated cost of the next car is equivalent to almost 28% of annual earnings.

However, in households earning A$200,000 ($141,032) or more a year, the expected outlay on their next car is an average A$48,830 ($34,438).

The survey results find 12% of all new-car intenders expect to spend less than A$20,000 ($14,103) on their next car and 15% expect to spend $50,000 or more.

But among those in homes pulling in A$200,000 a year, just 4% expect to pay less than A$20,000 for the next car and 30% have a figure of A$50,000 or more in mind.

More than 10% of those in top-income homes plan to spend more than $75,000 ($52,887) on the next car.

Roy Morgan Research Automotive Industry Director Jordan Pakes says almost one in six new-car buyers are in homes earning A$200,000 or more. Although they expect to spend about A$12,000 ($8,460) more on the next car on average, this is actually less than 20% of yearly earnings.

“Of course, household income is only one factor when it comes to deciding what to spend on the next new car,” Pakes says. “Some lower-income homes, such as retirees, may often have large nest eggs, while others on A$200,000 or more a year may have big mortgages and additional family expenses.

“Further analysis of consumer segments will help car manufacturers identify their ideal target markets based on their models’ recommended retail price.”

TAGS: Dealers Retail
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