slowmotion
Quite dreadful
- Location
- lost somewhere
The REAL purchase price of vehicles is falling. In other words, the purchase price hasn't risen as fast as our average earnings have been.
As far back as I remember (the 1980's), the cost of a small entry-level hatchback has been around £6000, same as today. However, the average wage has risen several-fold. Also, a modern £6000 car is incomparably better than the £6000 car from 1980, so if anything the economists actually underestimate how much real car prices have fallen.
What I was suggesting is that the overall cost of motoring plot on the graph is dragged down by the cheapness of new cars. If you have a banger, your overall cost of motoring has probably risen quite a bit.