A hundred years ago | America spends £2,900 millions yearly on motors
The Hindu·1h ago·Neutral
What Happened
A hundred years ago, America's annual motoring expenditure exceeded £2.8 billion. Four million motor cars were manufactured yearly, with a quarter million exported. The average American spent £200 on a car and £140 annually to operate it. Major expenses included car purchases (£750 million), depreciation (£500 million), maintenance (£400 million), and chauffeurs' wages (£320 million). Total motor spending doubled America's annual building investment.
Key Entities
AmericaAmerican Bureau of Industrial Technology£2.8 billionfour million motor carsThe Statesman