We’ve all got our favourite brands.
It could be the tired Bonds jocks you’ll only ever replace with (less tired) Bonds jocks, or the iPhone you’ll religiously upgrade whenever a new model is released, vowing to never stray beyond Apple.
Well surprise, surprise. We’re the same when it comes to cars.
Fresh research from Money.com.au has revealed 65 per cent of Australian drivers would buy their current car again, whether it be the same make, model, or both.
And it’s Toyota that tops the list as the most common brand among satisfied drivers, with Mazda and Hyundai trailing behind.
Rounding out the top six was Kia, Mitsubishi and Ford.
When it’s time to upgrade, it’s human nature to sway towards something you’ve historically enjoyed. And according to the research, the older we are, the more likely we are to stick with what we know.
Satisfaction levels were found to be higher among older Australians, with Baby Boomers (75%) and Gen X (64%) said to be the most likely to buy the same make or model again.
Meanwhile, 61% of Millennials said they’d buy their current vehicle again, while only 53% of Gen Z buyers would do the same, meaning Gen Zs are the most open to change.
Either that, or they’ve just made poor choices when buying a car.
When it comes to buyer remorse, the findings also revealed that around one in four Aussies regret their car choice.
Of that group, around 11% said their current car didn’t suit their needs, 8% said their car was too expensive and 7% said they overpaid for their vehicle.
Sean Callery from Money.com.au said most Australians are effectively becoming repeat customers when it comes to their car brand. “Cars are one of the biggest household expenses, especially when purchased through finance and paid off with interest over several years,” he said.
The fact that nearly two-thirds of Australians would buy the same car again shows strong confidence in the value and reliability of their vehicle, explained Callery.
“Aussies want cars that won’t let them down or cost a fortune to run. That’s why brands generally known for value and reliability like Toyota and Mazda are coming out on top.
“These brands already hold a large share of the Australian market and the data shows that’s unlikely to change any time soon, as drivers aren’t just buying them, they’re likely to stay loyal to them.”