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this post was submitted on 02 May 2024
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I mean I'd argue there's some serious room to help out the consumer since the price of cars has been outpacing inflation pretty handily since around 2014 (and been beating it into a bloody pulp since 2020). There is some insanely obvious price gouging going on when the average price of a new car in 2024 is over 49k. There is room for BOTH higher wages and at least semi reasonable car prices for the American consumer. In my eyes if you clearly aren't willing to help me as an everyday clearly struggling American today, then goooo right ahead and kiss my ass as I buy foreign if it's cheaper.
That added cost came in the form of dealer markups during COVID that never went away since theyre still selling. The manufacturers don't have much control over what the dealerships do.
The average purchase price has gone up because people are buying more expensive cars, eg. Large trucks, SUVs, luxury sedans, high end trims etc. not because cars are getting more expensive.
If you look at lower end sedans there price hasn't changed much. For example if you look at the Chevy Malibu the current base price is $25,100 , in 2014 the base price was $22,340 or $29,400 adjusted for inflation, in 2004 it was $18,700 or $31,067
None of those are close to the $10,000 cars coming out of China because you just can't make a car for that cheap in a country with high labor costs like the u.s., or even Japan or Germany.