As the wealthy buy $100k-plus cars, the mortgage belt feels the squeeze

Simon Evans and Carrie LaFrenz

Updated Feb 24, 2023 – 1.19pm, first published at 11.12am

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The wealthy are still spending with gusto, but middle Australia is being squeezed by rising cost-of-living pressures.

Consumers are reassessing their priorities, cutting back on some items but keeping travel spending sacrosanct as the painful memories of trips foregone in the pandemic linger, and maximum discretionary funds are devoted to a catch-up trip.

Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide.

Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club.