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Comerica Bank: Auto affordability slips

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DALLAS (WKZO) -- Comerica Bank's Auto Affordability Index indicates a new car took a little more of a family's income to purchase in the fourth quarter of 2012.  Chief economist Robert Dye says the purchase and financing of an average-priced vehicle took 23.6-weeks of median family income, blamed on slightly higher interest rates and an increase in vehicle prices.

Dye notes sales nationwide have fallen slightly from November to January, and the economic uncertainty of the federal sequester is among the negative variables for the first half of this year.

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