Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


1 in 5 New Car Buyers Prioritise Technology over Safety

21 May 2014

1 in 5 New Car Buyers Prioritise Technology over Safety

More than half of Aucklanders and Gen Ys buy their car based solely on appearance

Auckland, 21 May 2014 – A nationwide survey by Canstar Blue has revealed that 20% of new car buyers prioritise technology over safety features.

The importance of iPod connectivity, and other new technologies, ahead of safety is highest among Gen Ys and Aucklanders, with one in three Gen Ys and 30 per cent of Aucklanders placing special emphasis on technology features.

Derek Bonnar, Canstar General Manager, New Zealand says that for a large minority the survey, when it comes to choosing a new car, looks matter.

“Forty one per cent chose their car based solely on appearance, with aesthetics being of particular importance to Aucklanders (52%) and Gen Ys (59%). Men were more likely than women to purchase a vehicle based on how it looks.”

Reflecting continuing high petrol prices, fuel economy continues to be big factor in the purchase decision. More than three quarters of new car buyers are concerned with fuel economy, a small increase on the year before.

Bonnar says that third party reviews and internet ratings are a popular source of pre- purchase information for car buyers (71%), ahead of seeking advice from family and friends (55%).

“It’s never been easier for people to research big ticket purchases. Consumer reviews, independent research reports and satisfaction surveys like Canstar Blue’s can all provide important information that can help people make more informed decisions.

“Regardless of age group or region, people from all walks of life and backgrounds are consulting online reviews. Women are less likely than men to consult online reviews and ratings and more likely than men to seek the advice of family and friends.”

Bonnar urged a note of caution to the (more than) one-in-four new car that borrow money to purchase their vehicle.

“While it is a very special thing to be able to purchase a brand new car, owners mustn’t forget that they have – in most cases – bought a depreciating asset. Borrowing money to make the purchase and then paying interest, can make the overall cost of the vehicle very high, once depreciation is factored in. If debt can’t be avoided, then car owners should look to pay their vehicle loan off as soon as possible.”

Breaking down New Zealand’s car buying habits by region:

Aucklanders- are most likely to regard their car as a status symbol (39%), most likely to shop around for the lowest quote when getting their car serviced (43%), most likely to buy their car based on appearance (52%), equal most likely (with Wellington) to factor fuel economy in their purchasing decision (80%), most likely to borrow money to purchase their car (34%), most likely to get advice from friends and family (69%) and most likely to prioritise technology features over safety features (30%).

Waikato people- are equal least likely (with Canterbury) to see their car as a reflection of their personality (50%), least likely to see their car as a status symbol (15%) and equal least likely (with Otago) to not seek advice from any source (22%).

Wellingtonians- are equal most likely (with Auckland) to factor fuel economy into their purchase decision (80%) and least likely to prioritise technology features over safety features (11%).

Cantabrians- are equal least likely (with Waikato) to regard their car as a status symbol (50%), least likely to buy their car based on appearance (31%), least likely to borrow money to purchase their car (21%) and least likely to read internet reviews and ratings for purchase advice (67%).

Otago people- are most likely to believe that their car reflects their personality (61%), least likely to shop around for the lowest quote when getting their cars serviced (19%), most likely to read internet reviews and ratings for purchase advice (78%) and equal least likely (with Waikato) to not seek advice from anyone (22%).

Bay of Plenty people- are least likely to factor fuel economy into their purchase decision (61%), least likely to seek advice from friends and family (41%) and most likely to not seek out advice from anyone (37%).

The survey asked new car buyers to rank major car brands across six categories:
1. Value for money
2. Point of sale service
3. After sale service
4. Reliability
5. Performance
6. Overall satisfaction

Suzuki prevailed as the overall winner ahead of (in no particular order) Kia, Mazda, Ford, Toyota, Mitsubishi, Honda, Holden and Nissan, and was the only brand to receive 5 star ratings in all six categories.

“Suzuki is to be congratulated for its performance. With cars like the Swift, Suzuki is making small cars both affordable and attractive to a wide audience,” says Bonnar.

About the survey
Canstar Blue commissions Research Now to regularly survey New Zealand consumers to measure their satisfaction across a range of products and services. The outcomes reported here are the results from a survey of consumers who have purchased new car from a dealership in the last three years, in this case, 593 people. The survey has a margin of error +/- 4%.

Age Groups:
Gen Y: 18-29
Gen X: 30-44
Baby Boomers: 45+

*To view the full results of the Canstar Blue survey go to: www.canstarblue.co.nz

Click here for further information.

About Canstar Blue:
Canstar Blue is a division of financial research and ratings company,CANSTAR, which has been operating in New Zealand for nearly a decade.

Canstar Blue uses market research to determine customer satisfaction ratings across a range of products and services in New Zealand to help consumers make the best purchasing decisions for their needs. Canstar Blue conducts similar research in Australia. New ratings are added regularly. Results are freely available to consumers who are encouraged to use the ratings as a guide to product excellence. The results can be seen at www.canstarblue.co.nz.

About CANSTAR:
Founded in 1992, CANSTAR Pty Limited is Australia and New Zealand's premier researcher of retail finance information for over 350 institutions such as banks, building societies, credit unions, finance companies, brokers, mortgage originators, life companies and finance related internet portals. CANSTAR customers use the extensive database for competitor analysis as well as a means of disseminating their product range. This information is also distributed to print and electronic media for publication and to agents, accountants, brokers and internet portals for use in advising their clients.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Going Dutch: Fonterra Kicks Off $144M Partnership With Dutch Cheese Maker

Fonterra Co-operative Group, the world’s largest dairy exporter, has commissioned a new dairy ingredients plant in Heerenveen, in the north of the Netherlands, its first wholly-owned and operated ingredients plant in Europe. More>>

ALSO:

Scoop Business: NZ Retail Sales Beat Estimates

New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. More>>

ALSO:

Delivery Cuts Go Ahead: 'Government Money Grab' From NZ Post

"It's a money grab by the Government as the shareholder of New Zealand Post" says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news