Toyota is Australia’s most trusted automotive brand with 34.3% of prospective new car buyers choosing the brand over other carmakers, according to the latest Roy Morgan data.
Australia’s new car market is on the decline making competition between car brands much tighter and while Toyota remains steady it seems Australians have lost faith in luxury car brands over the past year with both BMW and Mercedes-Benz declining in their scores from August 2013. Of the top ten most trusted brands, only Subaru managed to increase its score from last year.
The data shows that overall there has been a decline in trust for brands across the board with the industry’s average trust levels dropping by 11%. Continuing decline in trust for iconic brands Holden and Ford doesn’t come as a surprise considering the negative press surrounding the looming closure of each company’s Australian manufacturing base.
Jordan Pakes, industry director of automotive at Roy Morgan Research, said: "Brand perception is all-important when it comes to staying competitive in the automotive market, whether it’s booming or not. Buying a new car is a major financial commitment, with the average new car buyer looking to spend about $34,500 on their next purchase. If they don’t trust a brand, it’s unlikely they’ll part with their hard-earned dollars.”
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