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Back when the term Global Financial Crisis was used only in relation to the far off events of the 1930s, Australians cared little for the price tag attached to their cars. Hence many of us ended up with shiny new cars in our driveways that were often well beyond our budgets. The good times were never going to end, or so we thought.
Now at the end of 2009 it’s a whole new ball game. Sure there are some very encouraging signs on the economic front and the average Australian is breathing a little easier. But interest rates are on the way up. And so are prices in a lot of areas.
So it is no surprise at all that we have become a nation of bargain seekers when it comes to cars. In recent months manufacturers at the cheaper end of the market have been selling cars at record rates. Buyers today want their favourite accessories and creature comforts without the hefty price tag. Hyundai and Kia are cashing in.
And next month will see a five-seat, four-door sedan on the market for just $11,990. That car, the Proton S16, is the epitome of a value package. For less than twelve grand you get a 1.6 litre twin cam engine, power steering, air-conditioning, driver airbag, remote central locking and five cup holders.
With that on board, the S16 is pretty well guaranteed to put even more heat into the bottom end of what is already a very competitive segment of the market. There has never been a better time to buy a new car no matter how much you want to spend – or, I guess, avoid spending.
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