He claimed :Normal people do not spend $35-40k on a car.
He further clarified that his definition of normal person to be one that doesn't tend to buy new cars, only used.
You point out that 18 million new cars are sold per year and that average new car price is over 30K a year. That completely misses the point that approx 60 million cars are sold in the US per year or around 1/3 of cars sold are new cars. The average price of a used car sold in the US is around $18,800. Therefore the average car sold is A) used B) cost less than $30K.
He claimed :Normal people do not spend $35-40k on a car.
He further clarified that his definition of normal person to be one that doesn't tend to buy new cars, only used.
You point out that 18 million new cars are sold per year and that average new car price is over 30K a year. That completely misses the point that approx 60 million cars are sold in the US per year or around 1/3 of cars sold are new cars. The average price of a used car sold in the US is around $18,800. Therefore the average car sold is A) used B) cost less than $30K.
Number of Used cars sold: http://www.cnbc.com/2014/08/22/used-car-market-showing-no-si...
Average price of a Used car: http://www.edmunds.com/about/press/used-car-prices-increase-...