Research into the used car market Prepared for Veda Auto

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).