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Is now the perfect time to buy a new vehicle?

Motorists have a number of important considerations to make when purchasing a new vehicle, including comprehensive and CTP insurance. One of the most important considerations however, is price

The results of a recent study by the Federal Chamber of Automotive Industries (FCAI) has found Australians are in a much better position than some of our global counterparts.

FCAI investigated Australian vehicle prices and affordability across the other major right-hand drive markets - Japan, the UK and New Zealand.

Vehicle prices

The FCAI survey found that Australia's new vehicles are cheaper than in other countries.

For example, a Holden Captiva LT sells for $36,490 in Australia. However, in the UK, the same model costs more than AU$50,000.

"In fact, as our analysis confirms, Australia has one of the most competitive right-hand drive markets in the world and this is reflected in the price of new cars in this country," FCAI CEO, Tony Weber explained.

"When we compare cars with the same level of specification, we find that the majority of cars made for Australian conditions are competitively priced in Australia compared to Japan, the UK or New Zealand."

Made for Australia

Australia's unique climate and road conditions mean vehicles need to be able to handle conditions different to those experienced elsewhere.

However, Mr Weber said automotive manufacturers are doing a good job installing features that are long-lasting and can handle Australia's environment.

"This includes having the appropriate engine and transmission cooling systems to cope with Australia's hot climate, towing requirements and fuel quality," he said.

"It also includes having specifically calibrated convenience items such as sat-nav, air-conditioning and infotainment systems."

With additional manufacturers meeting the demands of Australian consumers, competitive pressure is being added to the market, pushing prices down and improving vehicle sales.

"This competition means that Australians are getting world-class cars, built for Australian conditions, at globally-competitive prices," Mr Weber explained.

In fact, in Australia, there are more than 67 brands with over 350 models to choose from.