Vehicles become cheaper, index says - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars
Ford Forum Ford Forum

» Auto Insurance
» Featured Product
» Wheel & Tire Center

Go Back   Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News
Register Home Forum Active Topics Photo Gallery Auto Loans Insurance Garage Mark Forums Read Auto Escrow is the premier Ford Forum on the internet. Registered Users do not see the above ads.
LinkBack Thread Tools Display Modes
Old 08-09-2002, 07:12   #1 (permalink)
Registered User
Stacy94PGT's Avatar
Join Date: Feb 2001
Location: The Hills of North Georgia,USA
Posts: 7,859
Vehicles become cheaper, index says

August 9, 2002

Bloomberg News reports that cars and trucks in the United States were at their most affordable level since 1978 in the second quarter because of automakers' incentives and consumers' higher incomes, Comerica Bank said.

The average cost of a new vehicle in the quarter fell to 20.9 weeks of the median family income, from 21.7 weeks a year earlier, the Detroit-based bank's index showed. Auto affordability hasn't worsened since rising to 26 weeks in 1997,>Comerica chief economist David Littmann said in an interview.

From this year's first quarter to the second quarter, "incomes rose an average of nearly $800, probably assisted by tax refunds," while average vehicle prices dropped more than $200, Littmann said in a statement.

General Motors Corp., Ford Motor Co. and other automakers offered cash rebates and low-interest financing during the second quarter to spur consumer demand and clear out 2002 models.

Some analysts have said the companies may harm profit margins by raising incentive spending to more than $3,000 a vehicle in recent months. Littmann said the bank's index suggests easier purchase terms will contribute to growth.

"What's good for the consumer is good for the bottom lines of these companies," he said.
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.

My next Ford.....
Stacy94PGT is offline   Reply With Quote
Sponsored Links

  Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Similar Threads
Thread Thread Starter Forum Replies Last Post
Centennial Vehicles To Mark Ford Motor Company's 100th Year RPO83 Ford Worldwide News 0 05-14-2003 05:36
Latest EPA report says vehicles gain power but not fuel economy Stacy94PGT Ford Worldwide News 0 05-12-2003 10:00
Ford's products that create a "better world" RPO83 Ford Worldwide News 0 01-02-2003 16:13
Ford Product-Led Transformation: 2003 RPO83 Trans | Driveline 0 07-22-2002 06:48
Centennial Vehicles To Mark Ford's 100th RPO83 Ford Worldwide News 0 07-18-2002 18:32

Powered by vBadvanced CMPS v3.2.2

All times are GMT -7. The time now is 11:49.

Powered by vBulletin® Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0
Garage Plus vBulletin Plugins by Drive Thru Online, Inc.