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Research into the used car market Prepared for Veda Auto

Research into the used car market Prepared for Veda Auto. July 2009. Methodology. The used car market research was conducted by Veda Advantage via an online survey.

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Research into the used car market Prepared for Veda Auto

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  1. Research into the used car market Prepared for Veda Auto July 2009

  2. Methodology • The used car market research was conducted by Veda Advantage via an online survey. • Consumers aged 18 years and older who had purchased a used vehicle in the past six months or intended to purchase in the next twelve months across Australia was the target for this research. A representative sample of used car purchases by state was achieved. • Age and gender soft quotas were applied to the sample. • The research was undertaken 2nd - 9th July 2009. • A total of 1,017 surveys was completed, with the following breakdown achieved:

  3. Sample N=1017 N=1017

  4. |Results Summary

  5. Victim of fraud or deceit N=1017

  6. Victim of fraud or deceit • 13% of respondents have personally or have had a family member be a victim of fraud or deceit when buying a car in the last five years. • On average, each fraud incident costs the used car purchaser $3,200. • With around 2 million used cars sold across Australia annually*, fraud cost Australians an average of $164 million every year. Fraud costs can reach a high of $362 million every year. N=130; respondents or family members who have been a victim of fraud N=1017 * Source: The national figure is obtained by calculating used vehicle registration figures from the RTA NSW (2007) according to the national motor vehicle population from the ABS (2007).

  7. Appendix – fraud calculations Over a 5 year period the cost of fraud is on average $819,003,076 N=130; respondents or family members who have been a victim of fraud N=1017 * Source: The national figure is obtained by calculating used vehicle registration figures from the RTA NSW (2007) according to the national motor vehicle population from the ABS (2007).

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