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this post was submitted on 22 May 2024
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"Durable goods lasting longer than ever, but spun as economic anxiety"
Sort of. I'm glad we are wasting less in terms of automobile manufacture, but this is caused by price gouging on the part of automakers more than anything.
That means when we all eventually have to buy another car, we're just going to get fucked.
It's not just price gouging. Cars are more reliable. you can reliably get to 150k+ miles without major repairs, and get 200+ with some repairs, just replacing wear items. That wasn't the case in the 80s and 90s.
That's been the case for at least the past couple of decades. The massive price increases have been over the past 4 years.
Cars have been going up a long time before the last 4 years. 72 and 84 month auto loans being a thing at all is proof of that.
Average car price before the pandemic was about $38k. By 2023, it was $49k.
The trend has been ongoing for a long time due to general inflation and a growing preference for SUVs, but it went fucking bananas during the pandemic, and auto manufacturers have taken advantage.
So many of these cars are designed overseas, too. Its almost as though countries that don't have unlimited access to pillaged resources consider durability, energy efficiency, and ease of maintenance to be value-adds rather than profit-reducers.
Also, it should be noted that Americans basically don't make sedans anymore. Its all trucks and suvs.