The
percentage of Americans’ annual incomes needed to buy a new car has reached its
lowest level since 1989, according to the Motor & Equipment Manufacturers
Association’s (MEMA) Automotive Industry Status Report 2000.

A new car purchase took five months or 22.5 weeks of the average American’s
after-tax salary in 1999 compared to 22.3 weeks salary in 1989.

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The average new vehicle sold for $21,022 in 1999, up one percent from 1998
and three percent above the 1997 average.

Since 1981, Americans have had to spend at least 20 weeks’ after-tax salary
on new vehicles.

To view related research reports, please follow the links
below:-

Global
Car Forecasts to 2005

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