This supports my hypothesis that living in the city with buses and trains is worth the higher costs.
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Car prices will rise until all cars are self driving and nobody can afford to own them so you will rent driving time when you need transportation. This rental time will be even more expensive than ownership but it will be all you can afford.
You will get deals from driving subscriptions, but the ownership model will go away almost completely someday and big companies will continue to reap the rewards.
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This has been news for 6 years... Associated Press really did axe their employees to think this is a story.
Wouldn't it have been nice if the US had a mass-transit system like Europe or China? Oh well.
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Does US media know the difference between average and mean or median?
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Good thing my daily driver is a bike.
I'm 60, I've never bought a brand-new car, and I doubt I ever will.
The car I'm driving now, which is two years newer than the car I drove for 18 years, is a 2006. I paid $6000 for it about eight years ago, and I'm very happy with it.
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Seems like the average is inflated with $100,000 extended cab pickup trucks with luxury features. Which have taken over the market.
Don't worry... that extra cost gets you more LCD displays and the ability to pay for a heated seat subscription.
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We’ll have our walkable cities for sure at this rate.
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Get them hooked then raise the price.
I'm not fretting, I'm simply not buying anything other than necessities until Pedolf is gone. I'll have a nice little pile of cash ready to go, assuming this nightmare ever ends.
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New vehicles now sell for an average of nearly $50,000
The share of vehicles listing for less than $30,000 is about 13%
So you can get a car for less than 30k, but those models don't seem to be in high demand
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A brand new motorcycle is only a few thousand. They basically pay for themselves in fuel costs after a year or two.
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Those buyers, he said, are being pushed into the used market.
Haha yes that's what we did too, we could buy a new car for the same we paid for a 4 year old car. But we wanted to be able to pull a trailer, and we wanted a better than minimum battery, and the luxury of the bigger car is of course nice too. 😋
We got the VW ID.4 a CUV which means it's built like a real car, not some pickup truck construction that avoids regulation, that American SUV's often are.
The CUV is an amazing drive with perfect handling, an SUV is not.
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I just bought a very lightly used BRZ (20k miles) for $27k and I thought I was splurging because I could have paid significantly less for a completely adequate car, but I wanted something fun. It cost me more than an SUV would have, so even people who want practical cars aren't being forced to spend over $30k.
I bought a new car a couple of months ago. It wasn't easy.
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Shit like this makes me glad I have no car payments, a relatively newer pair of cars (2008 Sienna, 2015 Highlander), and a pair of "apocalypse-ready" vehicles (1980 Mercedes 240D, 1980 Honda XR500). And a little 49cc Honda Metropolitan for around-town stuff.
And yes, I have most of the tools required to work on all of them.
New vehicles have been selling for an average price of $50k for years now. I don't know where they're getting their data, but I've read this same article numerous times over the years already.
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