Car affordability in Australia
Feb 26th 2005, 2:04 am
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Car affordability in Australia
An article in The Courier Mail about the price of new cars:
CAR affordability is now at its best in 20 years, fuelling a surge in sales as prices tumble.
It now takes a worker on average earnings just 36 weeks to buy a new Ford Falcon, down from 41 weeks five years ago.
And it would take the same average worker just under 54 weeks to buy a BMW 318i, down from 75 weeks of wages five years ago.
CAR affordability is now at its best in 20 years, fuelling a surge in sales as prices tumble.
It now takes a worker on average earnings just 36 weeks to buy a new Ford Falcon, down from 41 weeks five years ago.
And it would take the same average worker just under 54 weeks to buy a BMW 318i, down from 75 weeks of wages five years ago.
Over the past five years, car prices have fallen by 6.8 per cent, a period that has seen inflation increase by 18 per cent and average weekly wages grow by 27 per cent.
