Are you considering buying a new company car for your business? If you are, you are not alone.

Recent data from Roy Morgan Research, Australia’s largest independent research company, shows car buying intentions in 2013 ended on a high, with approximately 647,000 Australians planning to purchase a new car this year.

This is a 1 per cent rise on the number of Australians who intended to buy a car in December 2012.

When asked which brand they would prefer to buy, one in four survey respondents named Toyota as their first choice. Mazda then came in second place, closely followed by Holden.

It seems a significant number of these car buying intenders will follow through on their plans.

New vehicle sales hit an all-time high in 2013, as 1,136,227 cars rolled off the dealership floor last year. This is an increase of 2.2 per cent on the previous record set in 2012.

This year is expected to build on these figures with an additional 1 per cent planning to purchase a new car within the next 12 months. Plus, 4.8 per cent more Australians intend to buy a vehicle sometime before 2018.

Jordan Pakes, group account director of automotive at Roy Morgan Research, was pleased with these figures and what they could mean for Australia’s automotive industry.

However, he said a number of factors could work against the market in the future, including “ever-increasing petrol prices” and declining consumer and business confidence.

If you’re planning on buying a new company car this year, you may want to consider a business insurance policy that will cover the vehicles you use for work.

Bruce Insurance can help you find the business insurance policy that best suits your organisation’s needs and interests, including protecting work vehicles and tools.

For more information, get in touch with the team at Bruce Insurance today.