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this post was submitted on 02 May 2024
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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.