Wednesday, May 22 2013 8:20 PM EDT2013-05-23 00:20:52 GMT
The Lee County Sheriff's Department is now working with the Albany Crime stoppers. The Lee County Sheriff's Department asked to join the Albany Crime-stoppers program. The Sheriff's Department believesMore >>
The Lee County Sheriff's Department is now working with the Albany Crime stoppers. The Lee County Sheriff's Department asked to join the Albany Crime-stoppers program. The Sheriff's Department believes it will be a helpful tool in closing some cases.
Wednesday, May 22 2013 8:08 PM EDT2013-05-23 00:08:36 GMT
How would you save your pets life if a tornado touched down here in South Georgia? Tuesday's tornado ripped through Oklahoma taking 24 lives, and today families are still searching for their belongingsMore >>
How would you save your pets life if a tornado touched down here in South Georgia? Tuesday's tornado ripped through Oklahoma taking 24 lives, and today families are still searching for their belongings and pets that were lost during the storm More >>
Wednesday, May 22 2013 6:43 PM EDT2013-05-22 22:43:09 GMT
Some princesses and super heroes made a stop in Albany Wednesday to visit young patients at Phoebe Putney Memorial hospital. Spiderman, Ariel and a few others made rounds to the children on the pediatricMore >>
Some princesses and super heroes made a stop in Albany Wednesday to visit young patients at Phoebe Putney Memorial hospital. More >>
Wednesday, May 22 2013 6:40 PM EDT2013-05-22 22:40:51 GMT
Students and teachers at a south Georgia school dedicated a special spot to a little girl killed in a school bus crash two weeks ago. Several other Pataula Charter Academy students were injured in thatMore >>
Students and teachers at Pataula Charter Academy dedicated a park bench on the playground of the school where 10-year-old Jordyn Doughtie was a student.More >>
Wednesday, May 22 2013 6:31 PM EDT2013-05-22 22:31:56 GMT
Jurors heard closing arguments Wednesday afternoon in the aggravated assault trial of three South Georgia men charged with beating a man in the parking lot of a northwest Albany club. Prosecutors sayMore >>
Prosecutors say three men beat a man in an Albany club parking lot so fiercely they fractured his skull.More >>
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SOURCE Comerica Bank
DALLAS, March 20, 2013 /PRNewswire/ -- The purchase and financing of an average-priced new vehicle took 23.6 weeks of median family income in the fourth quarter of 2012, according to Comerica Bank's Auto Affordability Index. Consumers on average spent $900 more on new cars in the fourth quarter of 2012 than they did in the third quarter.
"Auto affordability slipped slightly in the fourth quarter of 2012, declining by 0.4 weeks of median family income," said Robert Dye, Chief Economist at Comerica Bank in Dallas. "Driving the decrease in affordability was a combination of slightly higher interest rates and an increase in the average consumer expenditure per new car. Although median family income was also estimated to have increased, this increase was not enough to offset the rise in rates and expenditures. Vehicle sales through January have held up well although there has been a distortion in the recent sales data due to Hurricane Sandy. Sales surged after Hurricane Sandy to a 15.5 million unit rate in November and have since dipped to a 15.2 million unit rate by January. Downside risk from cuts in federal spending still lurks for auto sales and many other U.S. economic variables through the first half of 2013."
This report incorporates the latest data on consumer spending on light vehicles and on the terms available on auto loans. The full history of the Index is available upon request. Some historical data is in the process of being revised by the data sources and, as a result, revisions to the auto affordability series are expected in the months ahead.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Follow Comerica Chief Economist Robert Dye on Twitter at @Comerica_Econ.