While doing research for an article for Business Week, Amey Stone has come to the conclusion that car prices are on the way up. Incentives are running out, and makers can’t squeeze any more savings out of their operational processes.
She makes an interesting point in an entry on her weblog, Well Spent: … 10 years ago it took the average worker 30 weeks to pay for a car, but it takes just 20 weeks today.
Interestingly enough, the price of the car I purchased last year (a new 2004 Honda Civic LX) was within $1,000 of 20 weeks of my salary at my current job. This confirms what my boss has known all along: I’m an average worker.
Updated March 5, 2014 and originally published April 27, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.