FI showroom red and grey logo
MenuMENU
SearchSEARCH

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.

by Staff
March 28, 2013
1 min to read


DALLAS — Auto affordability slipped slightly in the fourth quarter 2012, declining by 0.4 weeks of median family income, according to Comerica Bank's Auto Affordability Index.

Consumers spent an average of $900 more on new cars in the fourth quarter than they did in the third quarter. The purchase and financing of an average-priced new vehicle took 23.6 weeks of median family income during that time.

Ad Loading...

"Driving the decrease in affordability was a combination of slightly higher interest rates and an increase in the average consumer expenditure per new car,” said Robert Dye, chief economist at Comerica Bank. “Although median family income was also estimated to have increased, this increase was not enough to offset the rise in rates and expenditures.”

Despite the effects of Hurricane Sandy, vehicle sales through January held up well, Dye added. “Sales surged after Hurricane Sandy to a 15.5 million unit rate in November and have since dipped to a 15.2 million unit rate by January,” he said. “Downside risk from cuts in federal spending still lurks for auto sales and many other U.S. economic variables through the first half of 2013."

More F&I

Easycare White paper cover See how AI-powered coaching can turn F&I customer conversations into actionable insights that support compliance, performance and profitability
SponsoredSeptember 8, 2026

How AI-Powered Coaching Is Transforming F&I Performance

See how AI-powered coaching can turn F&I customer conversations into actionable insights that support compliance, performance and profitability

Read More →
Assurant, Sell Value Build Trust, F&I Series, Expert Trainer Trent White
F&ISeptember 2, 2026

Sell Value, Build Trust

In this video, Trent White explains why selling on value, not fear, builds lasting customer trust, reduces cancellations, and drives long-term success.

Read More →
2026 StoneEagle summary
F&Iby Hannah MitchellAugust 31, 2026

F&I Sales Give Dealers First-Half Lift

Product business shored up total profits to avoid an overall revenue tanking as product penetrations held steady, StoneEagle reported.

Read More →
Ad Loading...
man with white hair and glasses delivering a speech standing next to a podium
F&Iby Lauren LawrenceAugust 31, 2026

Targeted Training Drives Results

Today’s technology, instead of threatening F&I managers, can actually make them better, according to an industry veteran who’s watched market setbacks roil the unprepared.

Read More →
Man's hand holding pen over a paper document
F&Iby Justin B. GasmanAugust 20, 2026

Double the Change, Double the Chance

When an F&I manager gets a customer refusal, it’s a wise move to tweak more than one thing in the product offering.

Read More →
Laptop computer, tablet, calculator and notebook on a desk
F&Iby John TabarAugust 20, 2026

Just Do It

F&I managers need training, but instead of resisting application or expecting perfection, they should improve by simply acting on what they learn.

Read More →
Ad Loading...
stacks of coins, a calculator, paperwork, and a pair of glasses in the background, text Lender Experience Drives Dealer Decisions, F&I and Showroom
Auto Financeby Lauren LawrenceAugust 12, 2026

Dealer Lender Preferences Revealed

When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.

Read More →
Leading with Purpose thumbnail. Trent white pictured in front of titled graphic.
F&IAugust 5, 2026

Leading with Purpose

In this video, Trent White explains how understanding your people’s 'why' is a key leadership responsibility of F&I professionals and how that mindset drives dealership engagement, trust and performance.

Read More →
Photo of a keyring with mltiple keys, including a car key fob, on a white surface
F&IJuly 15, 2026

Integrating Nontraditional F&I Products

The niche presents a strategic advantage for auto dealerships as they move to adapt to fast-changing consumer expectations in today’s market.

Read More →
Ad Loading...
Photo of businessman's hands holding eyeglasses at a desk
F&Iby Rick McCormickJuly 7, 2026

Trust Is Personal

Technology, no matter how efficient, can’t replace what the human F&I manager can do, which is to bridge the divide between cyberspace and the in-store experience.

Read More →