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Dude, my new car costs 40 grand

  • Average purchase price for a new car nationally is $40,843.
  • South Australia is the most affordable new car market in Australia at $36,637.
  • Tasmania is the most expensive market at $47,635.

The cost of a new car, according to a survey of 2,600 models by consumer group Canstar, is $40,000 – or just over half the annual average full-time wage for an Aussie worker.

Motor vehicle sales have recovered strongly according to data compiled from the Australia Bureau of Statistics, with the value of loans for the purchase of cars in March exceeding $1.2 billion – the highest level for motor vehicle loans in four years.

In terms of registrations, that is the equivalent of 100,000 new vehicle registrations in one month, observing that Australian households are upgrading to new models of vehicles with enhanced fuel efficiency and safety features.

New South Wales has the largest number of car registrations and at $38,665 is lower than the national average.

Victoria ($41,327), Queensland ($42,226) and Tasmania ($47,635) are the most expensive states to procure a new vehicle.

South Australia ($36,647) and Western Australia ($38,519) represented the best value for money among the states when it came to buying a new car.

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