New cars have become increasingly unaffordable, with prices rising up to five times faster than wages over the past decade, according to research.
A study found that some car prices have more than doubled since 2011, while revenues have increased by a fifth over the same period.
The increase is believed to have been driven by increased use of technology and security features. The switch to electric and hybrid vehicles is also believed to have pushed up production costs, which generally led to an increase in car prices.
The surge could lead some car owners to hold onto older, more polluting cars for longer instead of buying new models. It has also resulted in a large increase in the number
