The XB Ford Falcon was released in 1973. It is one of the best selling Ford Falcon models of all time. Here is a bit of a snapshot of what things were like and what things costs in Australia at that time. The landscape has changed a lot since the XB was first released and it is interesting to see where things were back then vs how they are today. Where were you when the XB Falcon was first released?
Cost of a new Ford XB Falcon
- Base sedan models started at approximately $4,200–$4,500
- Deluxe and GT models ranged from $4,800–$5,500 depending on options
- The XB featured minor styling updates from the XA, larger engines, and continued GT-HO performance variants.
- This was the early period of rising fuel costs and the onset of insurance premiums on high-performance cars.
Price of a Ford ZG Fairlane
- Base ZG Fairlane sedan started at around $7,500–$8,000
- Higher-spec models could exceed $9,000, featuring luxury appointments like air conditioning, power steering, and premium interiors.
Cost of a Ford P5 LTD
- Base P5 LTD models started at approximately $8,500–$9,000
- The LTD was positioned as Ford Australia’s flagship luxury sedan, rivaling the Chrysler by Chrysler Valiant VIP and Holden Brougham.
- It featured high-end trim, premium upholstery, and optional luxury features like automatic climate control and power windows.
Average wage
- Average weekly wage: about $85–$90 per week
- Average annual wage: about $4,400–$4,700
Average house price
- Around $17,000–$18,000
Price of petrol
- Around 14–15 cents per litre, increasing due to global oil pressures leading up to the 1973 oil crisis
Prime Minister
- Gough Whitlam (Labor Party)
- Whitlam’s reforms were beginning to reshape Australian society.
Population of Australia
- About 13.3 million people
Top-grossing movie
- The Exorcist and American Graffiti were international hits (late 1973 releases).
- The Australian box office also saw strong attendance for James Bond films.
Top song
- Tie a Yellow Ribbon Round the Ole Oak Tree by Tony Orlando and Dawn was a chart-topper.
Significant world event
- 1973 oil crisis began, causing global fuel shortages and price spikes.
- The end of the Vietnam War was beginning to reshape international politics.
Popular TV / radio in Australia
- Number 96 was a hugely popular and controversial drama series.
- Homicide, Division 4, and Bellbird remained staples.
- Countdown was still a few months away from debuting (1974).
Significant Australian news story
- The Whitlam Government introduced major reforms:
- Ending conscription
- Expanding education access
- Introducing Medibank (precursor to Medicare)
- Rising fuel prices and inflation began affecting households and car owners.
Interesting comparisons
- The XB Falcon cost roughly one year’s average wage, while the ZG Fairlane cost around 1.8–2 years’ average wage, and the P5 LTD cost about 2–2.2 years’ average wage
- The average house cost about 4 times a yearly wage
- Filling the ~55L tank in an XB Falcon cost about $8, while the larger Fairlane and LTD V8s could push it to $10–$11
- A week’s wages could buy roughly 550–600 litres of petrol