Insights

OVER HALF OF IRISH CONSUMERS PLAN TO BUY A CAR IN THE NEXT TWO YEARS
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OVER HALF OF IRISH CONSUMERS PLAN TO BUY A CAR IN THE NEXT TWO YEARS

56% of Irish online consumers plan to buy a car in the next two years according to a new study by Nielsen, with the majority of those choosing to purchase a used car over a new car.

The Nielsen Global Survey of Automotive Demand polled more than 30,000 Internet respondents in 60 countries to identify where automotive demand is greatest and to reveal the motives that are most influential in driving purchase intent. Globally new car purchase intent is strongest in Asia-Pacific, where 65% of respondents say they will buy new in the next two years, compared with 7% who plan to buy used cars. In Europe, more respondents plan to buy a used car (28%) in favour of new (22%), a trend that is reflected in Ireland where 43% plan to buy a used car and 13% plan to buy a new car.

87% of Irish respondents claimed to have one or more cars in their household, slightly above the EU average of 80%. Of those that do have a car the majority see it as purely functional; a tool to get them to where they are going (78% agreed). But there is still a strong emotional attachment as 75% agreed that they have a car because of their ‘love of driving’. Furthermore, 26% feel the car they drive is an important symbol of the success they have achieved in their life compared to the European average of 33%.

Of the 13% who do not own a car the main reason for this is financial as 73% feel that they would have a car if they could afford one. However this was not the main reason and a substantial amount agreed that they would rather take other forms of transport over driving a car.

ABOUT THE NIELSEN GLOBAL SURVEY

The Nielsen Global Survey of Automotive Demand was conducted between Aug. 14 and Sept. 6, 2013, and polled more than 30,000 consumers in 60 countries throughout Asia-Pacific, Europe, Latin America, the Middle East, Africa and North America. The sample has quotas based on age and sex for each country based on its Internet users, and is weighted to be representative of Internet consumers. It has a maximum margin of error of ±0.6 percent. This Nielsen survey is based on the behavior of respondents with online access only. Internet penetration rates vary by country. Nielsen uses a minimum reporting standard of 60 percent Internet penetration or an online population of 10 million for survey inclusion. The Nielsen Global Survey, which includes the Global Consumer Confidence Survey, was established in 2005.