Serves the Commercial Small Fleet Market of 10 – 50 Vehicles

Autos More Affordable Now Than Last 30 Years

February 24, 2005

The purchase of an average-priced new vehicle during the fourth quarter of 2004 took 20.6 weeks of median family income, before taxes, according to the Auto Affordability Index compiled by Detroit-based Comerica Bank. This is 0.2 weeks more affordable than third quarter's 20.8 weeks. Total cost, including financing charges, came to $28,127 in the fourth quarter, 1.8% up from third quarter 2004, and 2.0% above year-earlier levels. Median family income rose 2.6% from the third quarter and is up 6.4% from a year ago.Looking at some historical figures reveals that car prices are even more affordable than those of 1975.
Twitter Facebook Google+

Comments

Please note that comments may be moderated. 
Leave this field empty:
 
 

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

FleetFAQ

Fleet Tracking And Telematics

Todd Ewing from Fleetmatics will answer your questions and challenges

View All

 

Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All

 

Sponsored by

Saab, or Svenska Aeroplan Aktiebolaget (Swedish Aircraft Company), was founded in 1937 as an aircraft manufacturer and revealed its first prototype passenger car 10 years later after the formation of the Saab Car Division.

Read more

Up Next

More From The World's Largest Fleet Publisher