Car price inflation exceeding wage rises

01 July 2021 | David Young

Research from Moneybarn has found that some models have more than doubled in price since 2011, while wages have risen only a fraction of that

Car price inflation exceeding wage rises

Nissan Leaf bucks the trend - no price increases in 10 years!

Research from Moneybarn has found that some models have more than doubled in price since 2011, while wages have risen only a fraction of that.

According to its Carflation study between 2011 and 2021, the average earnings in Britain increased by 22% , from £21,100 to £25,780, but the average cost of buying a new car increased by 39%, from £27,675 to £38,585.

In 2011, a new car cost 131% of the UK's average annual salary, whereas today, this has increased to 150%.

Topping the charts, the Jeep Wrangler has risen 117.3% in a decade while the Peugeot 3008 has risen 117%. Nissan Leaf is at the opposite end of the scale, with its sales prices not moving at all in the past decade.