Aussie new cars affordable

New cars in Australia are more affordable than ever before – and many comparable cars are cheaper there than in other major right-hand-drive markets, such as Japan and New Zealand, according to a study. An analysis of comparable prices in key countries has found many popular models are competitively priced in Australia, including models from Toyota, Holden, Ford and Mercedes-Benz. The analysis by the Federal Chamber of Automotive Industries (FCAI) has found a Holden Captiva LT that sells for AU$36,490 in Australia costs more than AU$50,000 in the UK. A Mazda6 Sport sedan that sells there for AU$33,460 costs more than AU$43,200 in England, while a Mercedes-Benz A180 that costs more than AU$42,400 in the UK retails for AU$35,600 in the lucky country. Figures compiled by Commonwealth Securities, also known as CommSec – the country’s largest discount stockbroking firm, confirm affordability in Australia is at its best level ever, claims the FCAI. According to CommSec, someone earning the average Aussie wage has to work for about 26 weeks to buy a new Ford Falcon XT automatic sedan compared to 30 weeks a few years ago. Tony Weber, chief executive of the FCAI, says the analysis of models made for Australia compared to those in other right-hand-drive markets demonstrates while specification levels may differ significantly, when comparing like-for-like Australian new car prices are competitive. “There has been misinformation about the cost of new cars here with some commentators arguing for an open-slather approach to the import of new and used cars as a way to lower prices,” he says. “Our analysis confirms Australia is one of the most competitive right-hand-drive markets in the world, which is reflected in the price of its new cars. “When we compare cars with the same specification, we find most made for Australian conditions are competitively priced here compared to Japan, the UK or New Zealand. “And consumers can be assured cars made for Australian conditions and safety specifications will cope with our climate, lifestyle and roads. This includes having the appropriate engine and transmission cooling systems to cope, towing requirements and fuel quality. It also includes having calibrated convenience items, such as sat-nav, air-conditioning and infotainment systems.” Weber notes the high-level of competition in Australia means marques “continuously work to improve safety, security and environmental features”. The FCAI is opposed to any move federal government action to compromise safety and specification standards by further relaxing standards to allow greater access for personal imports. Weber says changes being considered will transfer the risk of buying a car from dealers to consumers, many of whom don’t have access to all the information needed to compare specifications, safety and price. “Allowing the personal importation of vehicles will have a negative impact on consumers and road users. Cars made in the same factory may look identical on the outside, but will have different specifications. Personal imports will also be outside the brand network and the peace of mind it delivers.”