{"id":441053,"date":"2026-05-23T04:01:34","date_gmt":"2026-05-23T04:01:34","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/441053\/"},"modified":"2026-05-23T04:01:34","modified_gmt":"2026-05-23T04:01:34","slug":"australian-consumers-lose-faith-in-economy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/441053\/","title":{"rendered":"Australian consumers lose faith in economy"},"content":{"rendered":"

Aussie motorists are losing faith the economy, with the number of people considering a major purchase falling, according to new data.<\/p>\n

A Roy Morgan research survey of 65,000 people found that only 13 per cent of people say now is a good time to buy major household items, while 49 per cent say it is a bad time.<\/p>\n

And the number of people who intend to buy a new car in the next four years has dropped by 4 per cent since 2023. <\/p>\n

MORE: Shock reason behind most Aus car crashes<\/a><\/p>\n

Roy Morgan chief executive Michele Levine said consumer confidence \u201cremains near a record low\u201d.<\/p>\n

\u201cBuying a new car is a big decision,\u201d she said.<\/p>\n

\u201cThe latest data on car buying intention reflects Australians believe now is not a good time to make big purchase decisions in the middle of a cost-of-living crisis.\u201d<\/p>\n

MORE: Petrol isn\u2019t dead as dreamy V8 debuts<\/a><\/p>\n

Amid fears of a recession, the unemployment rate hitting a four-and-a-half year high and the RBA repeatedly hiking interest rates, the survey is a sure sign Aussies are tightening the purse strings amid the economic uncertainty.<\/p>\n

Survey data shows SUVs have climbed in popularity between March 2023 and March 2026, while the number of people considering a passenger car \u2013 like a Toyota Corolla or Camry \u2013 has fallen.<\/p>\n

Levine said the report reflects \u201can appealing market for Chinese car manufacturers\u201d, which is reflected by automotive sales figures.<\/p>\n

China is now the number one source of new cars for Australia.<\/p>\n

The number of cars sourced from China in the first four months of the year climbed from 60,692 in 2025 to 98,011 this year, an increase of more than 60 per cent.<\/p>\n

BYD has climbed to second place in the manufacturer standings behind Toyota, while Chery\u2019s Tiggo 4 compact SUV is a firm fixture in the industry\u2019s top 10.<\/p>\n

New vehicle sales have fallen by 1.5 per cent for the year to date.<\/p>\n

Deliveries of large vehicles such as utes and four-wheel-drives have dropped in the last 12 months.<\/p>\n

Sales of utes to private buyers \u2013 as opposed to business or government fleets \u2013 fell by more than 28 per cent year to year. <\/p>\n

MORE: 5000 reasons Toyota should be worried<\/a><\/p>\n

\"Tesla<\/p>\n

Tellingly sports car sales fallen particularly sharply, near-halving between April 2025 and April 2026 and people reconsider the need to purchase toys.<\/p>\n

While the number of people considering a new car may be falling, used car demand remains strong \u2013 even climbing slightly.<\/p>\n

The Roy Morgan data suggests one in four Australians are considering the purchase of a used car in the next four years.<\/p>\n

Data produced by the Australian Automotive Dealer Association shows that Aussie drivers are increasingly turning toward hybrid vehicles in the used market, with the number of hybrid cars available for sale falling significantly between January and April.<\/p>\n","protected":false},"excerpt":{"rendered":"Aussie motorists are losing faith the economy, with the number of people considering a major purchase falling, according…\n","protected":false},"author":2,"featured_media":441054,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[12587,2300,225165,85,2652,225171,225176,225166,138,146465,225175,607,225167,31902,169053,79029,219,225178,225168,225174,225169,111,139,64,13902,69,2659,225172,144909,225170,225173,225177,13883,176222],"class_list":["post-441053","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-america","tag-asia","tag-aussie-motorists","tag-australia","tag-australia-and-new-zealand","tag-australian-automotive-dealer-association","tag-australian-consumers","tag-automotive-sales-figures","tag-business","tag-car-crashes","tag-car-demand","tag-china","tag-chinese-car-manufacturers","tag-consumer-confidence","tag-david-mccowen","tag-eastern-asia","tag-economy","tag-household-items","tag-manufacturer-standings","tag-michele-levine","tag-motorists-shift","tag-new-zealand","tag-newzealand","tag-north-america","tag-northern-america","tag-nz","tag-oceania","tag-power-folding-seats-weeks","tag-purchase-decisions","tag-purchase-falling","tag-safety-feature","tag-survey-data","tag-united-states-of-america","tag-vehicle-sales"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/441053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=441053"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/441053\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/441054"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=441053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=441053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=441053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}