1. Home
  2. Uncategorized
  3. Salary Needed for Vehicle Purchase Lowest in Years

Salary Needed for Vehicle Purchase Lowest in Years

Originally Published in Trailer Life Magazine

Since 1981, Americans have had to spend at least 20 weeks’ after-tax salary on new
vehicles. However, according to the Motor & Equipment Manufacturers Association’s
(MEMA) Automotive Industry Status Report 2000, the percentage of Americans’ annual incomes
needed to buy a new vehicle is at its lowest level since 1989. A new vehicle purchase took
22.5 weeks of the average American’s after-tax salary in 1999, compared to 22.3 weeks’
salary in 1989. The average new vehicle sold for $21,022 in 1999, up 1 percent from 1998
and 3 percent above the 1997 average.

The Best of RV Magazine Delivered to your Inbox

Subscribe to RV.com and RV Magazine

Subscriptions starting at only $14.97 per year.

Members save by only paying $9.97 per year!

logo

Please login or register to view archived articles.

Sign In

Do not have an account? Create New Account

Menu