The run-up in sticker prices is one reason it’s tougher for middle-class families to buy cars. In 1971, a Chevy Impala family sedan sold for just over $3,000, which was less than 30% of the average annual family income. Chevy no longer has a family sedan, but Toyota’s Camry sells for around $30,000, or about 35% of today’s family income. These days, about half of all Americans live in households considered middle income, compared with 60% in 1971, Pew Research Center says. And there are fewer choices for cheap models.
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