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Study - USA - Affordability Worse in Q3
USA - The Car Connection -16 Nov 2005: -- Cars are less affordable now than any time in the last four years, according to the latest study by Detroit-area Comerica Bank. The average new vehicle took 26.2 weeks of median family income to purchase in the third quarter of this year, up 1.5 weeks from the last Auto Affordability Index compiled by the bank... The average price of a standard family vehicle was $27,958 in the third quarter, a rise of six percent from last year... Incentives and rebates encouraged people to spend more on new vehicles, the bank said in a release...
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