Median incomes of single earners get pretty skewed from people willingly working part-time or low-income jobs as secondary income instead of primary income. I usually prefer analyzing things on household income for this reason. Think a grandpa working a part-time gig as a greeter at Walmart while going back to a multi-generational household or a stay-at-home parent working a part-time remote call center job while the kids are in school or a teenager working a part-time job. All of these positions would pull pretty small amounts of overall yearly income but chances are they're not the sole source of wealth/income they have access to.
The median household income is ~$75k. There's ~131M households in the US. This means there are 65M households making more than $75k/yr.
But yes, generally speaking wealthier people are the ones buying new cars with a lot of people buying used models.
The median household income is ~$75k. There's ~131M households in the US. This means there are 65M households making more than $75k/yr.
But yes, generally speaking wealthier people are the ones buying new cars with a lot of people buying used models.