australian buy more than 1.1 mill cars in 2012

http://www.heraldsun.com.au/news/national/australian-buyers-snapped-up-more-than-11-million-new-cars-in-2012/story-fndo48ca-1226546976326

"Official figures due to be released tomorrow are expected to show 2012 is the fifth time in six years the 1 million mark has been passed - and the highest since the original 1 million-plus record was set in 2007."

But but but... I thought things were tight, people had no money or ability to take on debt? Yet they have enough money to run out and buy brand new cars in record numbers?

Intersting isnt it? I really dont think there is affordability issue out there at the moment.- I believe it is all SENTIMENT driven with the help of a sensationalist who jump on price movements of 0.4% as 'massive property drops'.

Thoughts on this people-do we have a debt crisis or not? And if so why are people buying BRAND NEW CARS in record numbers?

I would never buy a brand new car-a sure fire way to loose thousands of dollars instantly, and every year there after...no thanks.