Why Are Cars So Freakin’ Expensive Now?

The Straight Shift with The Car Chick

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3M ago 25:57

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In this episode, The Car Chick discusses the alarming rise in car prices, exploring the reasons behind the lack of affordable vehicles in the U.S. market. She delves into the impact of the COVID-19 pandemic, supply chain issues, and the shift in automakers' priorities towards higher profit margins. The conversation also highlights the competitive advantages of Chinese automakers and the need for a cultural shift in the U.S. auto industry to produce more affordable cars in the future.

Takeaways

The average price of a new car in the U.S. is nearly $50,000.
Car prices have outpaced regular inflation by 7%.
Automakers are focusing on profits over producing affordable vehicles.
Chinese automakers have significantly faster development and lower manufacturing costs compared to U.S. automakers.
The U.S. auto industry needs to rethink manufacturing processes to lower costs.
Affordable cars in the future will likely be electric vehicles.

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