Mazda drivers are the most satisfied in Australia, at least according to new research by Ray Morgan.

Part of the firm's 'Automotive Satisfaction Report', the study is based on over 40,000 interviews yearly with Australian motorists, with 95.3 per cent of Mazda owners 'Very' or 'Fairly' satisfied with their vehicle in the 12 months leading into July 2017.

That marks a 0.2 per cent increase on the same period to previous year for the Japanese brand, though last survey it was ranked fourth behind Lexus, Skoda and Isuzu Ute.

Narrowly missing out on top spot was Swedish manufacturer Volvo, with a satisfaction rate of 95.2 per cent - a decent 3.8 per cent increase on the year before.

Despite falling 2.5 per cent, Lexus maintained a top three finish, scoring 95.0 per cent satisfaction in the survey.

Meanwhile, Skoda ranked fourth (94.8 per cent, down 1.0), Isuzu Ute fifth (94.7 per cent, down 0.7), and Toyota sixth (94.6 per cent, up 0.2). Rounding out the top ten were Mercedes-Benz (94.5 per cent, up 0.2), BMW (94.4 per cent, up 3.7), Peugeot (94.3 per cent, up 4.7), and Subaru (94.3 per cent, no change).

Volkswagen managed 14th place (93.9 per cent, up 2.5), matched by Kia (93.9 per cent, up 2.1), while Hyundai was just behind with 93.8 per cent (up 0.1).

Lagging behind the pack were Ford (89.8 per cent, up 0.1), Holden (89.3 per cent, up 0.2), and Jeep (88.9 per cent, down 5.2), though the former two showed slight gains.

"In such a highly competitive car market as Australia, it is critical that brands focus on their satisfaction ratings relative to their major competitors and across key segments because customer satisfaction has the potential to impact on customer retention and advocacy," said Norman Morris, director of industry communications for Roy Morgan Research.

"This research has shown that very little currently separates the satisfaction of the major players in this market, presenting a problem in how to obtain a competitive advantage on this important metric."

This survey follows a report published earlier this month by international firm J.D. Power, which claimed Hyundai customers are the happiest - although that study was specifically on initial satisfaction rather than long-term ownership.

What do you think of the Roy Morgan survey results?