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September 27, 2018 - Industry News

Fed Reserve Approves Third Rate Hike of 2018

FOMC Chairman Powell answers reporters' questions during Wednesday's press conference.

The Federal Reserve on Wednesday raised interest rates for the third time this year and signaled it will raise the cost of borrowing again in December. Industry economists said it will not get better for consumers or the industry from here.

Tags: auto affordability, consumer confidence, Federal Reserve, interest rates, Monthly Payments, new-vehicle sales

March 28, 2013 - Industry News

Comerica Bank: Auto Affordability Down in Fourth Quarter

Consumers spent an average of $900 more on new cars in the fourth quarter 2012 than they did in the third quarter, according to Comerica Bank's Auto Affordability Index.

Tags: auto affordability, Comerica Auto Affordability Index, Comerica Bank

April 12, 2012 - Industry News

6 Domestics Top KBB's List for Comfort and Affordability

The Chrysler 300 tops's "10 Most Comfortable Cars Under $30,000" list. The 2012 Volkswagen Passat also was a big winner.

Tags: auto affordability, Chrysler 300,, Volkswagen Passat

February 14, 2012 - Industry News

Auto Affordability Improved in 4Q 2011, Comerica Bank Reports

A report by Comerica Bank indicated that the purchase and financing of an average-priced new vehicle took 23.1 weeks of median family income in the fourth quarter of 2011, the best affordability reading since the third quarter of 2009.

Tags: auto affordability, Comerica Bank

November 29, 2011 - Industry News

Auto Affordability Slips in Q3, Comerica Bank Reports

Auto affordability fell in the third quarter, continuing the declining trend since affordability peaked in 2009, according to Comerica Bank.

Tags: auto affordability, Comerica Bank

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