If you haven't been car shopping in a while, brace yourself

[Yo_Mama_Been_Loggin]

New York
CNN
—
It’s called sticker shock. And if you haven’t been to a dealer’s showroom since before the pandemic, you might want to prepare yourself.

Americans paid a whopping $47,612 on average for a new car in October, according to data from Edmunds. That’s a jump of almost $10,000 from October 2019, ahead of the pandemic. That means new car prices have risen much faster than most goods and services.

The price jump has multiple origin stories: The pandemic snarled supply chains and limited essential car parts. Buyers increasingly prefer larger cars with more features, continuing the decades-long shift to bigger, more expensive SUVs and trucks.

But much of the reason Americans are paying nearly $50k for a car is that automakers decided to go all-in on expensive cars. The more they charge for a car, the more money they make off it.

https://www.cnn.com/2024/11/16/business/50k-car-prices/index.html

No thanks.

[TBF]

1. Just wait until they start the tariffs -

I'm gonna be driving my old Hyundai for a LONG time.

[wryter2000]

2. I'll keep my Chevy Spark

Cheap all around

[Ars Longa]

10. I love my old Pontiac Vibe.

It's just a Tank!!

[SunSeeker]

31. I miss my Pontiac Vibe so much!!

It ran like a clock with 200k miles on the odometer, and had so much pep off the line. Then I gave it to my son and he wrecked it (he was fine, but the car was toast).

Best car I ever had!

I now drive a Ford Escape. It feels so big and clunky compared to my old Vibe.

[RussellCattle]

3. It's true, but hard to understand. The dealers are sitting on (and paying loan interest on) enormous numbers of new....

......cars on their lots. In some cases the country has three to four hundred days supply of some models on the dealer lots and the factories are faced with shut downs or ponying up for more rebates. Tough business to be in today, just ask Stellantis.

[Scrivener7]

4. Auto makers provide them because Americans buy them. About 70% of the cars

and trucks on the road right now are absurd.

The Joneses are really not worth keeping up with.

[MichMan]

5. Bought one about 6 months ago

Cost around $36,000 before tax and registration

[Fiendish Thingy]

6. 20% inflation since 2020, a $55k car becomes a $65k car

I just placed an order for a Toyota RAV4 plug in hybrid, sticker price $67kCAD (top of the line, w/all bells and whistles- might be the last car I ever buy)

I’ve been researching this car for a few years, and was not surprised with the price increase- the MSRP was only about $1500 over the 2024 model.

[Phoenix61]

7. Starter cars like starter homes seem to be a thing of the past. nt

[MichMan]

14. They call them "used cars"

[The Madcap]

30. Haven't bought a new one

Since 2000. I shoot for less than 40k miles and don't go crazy on giant suvs. I bought two for my daughters and one for my wife for less than 60k altogether, all after the pandemic.

My next one will be a bicycle.

[flying_wahini]

8. I was shopping for another one today, as a matter of fact.

My “old” 2011 Subaru Outback is in need of repairs and gonna spring for a new one before they up the prices anymore.
Actually surprised that sticker with more than I need is about $38k which means I’ll walk away at about $40k.
It will be my last car so I’m going for it.

[BlueWaveNeverEnd]

9. viral videos ask people to share their monthly car payments: $700, $900, $1000 are common

[Mariana]

11. Yeah, we had to buy a car last year

after my beloved 2009 convertible got totaled. Yikes. We usually buy used, but there was very little available and the prices were crazy. Double yikes. I'm sure it's even worse now.

[sakabatou]

12. *gets around on my pedal bike*

[KentuckyWoman]

13. I am willing to pay more for no tech

My 2003 buick is giving me fuss. I am over 80 yrs old, my driving is very limited. I will pay to fix as long as parts can be gotten. Told the service guy he should open a corner lot with solid no tech cars with crank windows. Although I do wish I had a back up camera.

[msongs]

22. u can get a camera installed for probably under $500 nt

[Mosby]

15. They don't want everyone to be able to buy a new car.

The future for the manufacturers are self driving cars, that's why there is so much being invested in the technology. We have them everywhere in Phx.

[MichMan]

16. Why wouldn't the manufacturers want more people buying new cars?

[The Madcap]

32. Good luck with that

Why even own a car if everything is self driving? A phone call, and an elonmobile drives up

[BlueTsunami2018]

17. What a brilliant move it was to sell out our machine tool industry to China.

Reagan’s handlers haunt us to this day.

[Polybius]

18. I got my car in the low $30,000's in May with the EV discounts

I'm very happy with it.

[cadoman]

19. both the prices and MIX of inventory is awful -- but look at what Asia has done that we can emulate

There is a near zero inventory of entry level vehicles. The Honda FIT no longer exists.

Meanwhile over in Asia there are a plethora of modestly priced vehicles that are environmentally friendly as well as pragmatic. Everything from scooters to bikes to buggies to carts to small trucks. Those small carts and trucks would be exceptional vehicles in crowded cities where folks need to shuffle inventory for a small business or pull over opportunistically to sell their wares.

Democrats need to get out in front and lead with some Asian-inspired vehicle legislation. Bring a $15k utility truck or a $7k cart to the American market.

[OAITW r.2.0]

27. As some who has been in China/Taiwan since th 90's. This is a welcome change.

Being in Taipei during the rush hour in 1990,was weird. 2-stroke scooters making noise and pollution. Now, batteries/solar tech rules the day.

[MichMan]

33. They won't meet US crash and safety regulations

[Igel]

20. The appropriate question is why they went all-in on expensive cars.

The answer is two-fold.

(1) They needed to fund other parts of the company. Some is shareholders, but a lot is building out other parts that they want to emphasis for future development.

(2) CAFE and the requirements to avoid fines for violating CAFE.

[msongs]

21. low end nissan rogue is $30K nt

[surfered]

23. Patience, there may be deals during the Trump recession.

[Yavin4]

42. There won't be a Trump recession.

It will be a full blown, multi-year depression.

[Takket]

24. there are lots of new cards in the low $20k range still. Paying $50k is definetly a choice

and people making that choice is an indicator of how well the economy is doing under Biden.

Not for long.

[hatrack]

25. The 2024 Testosterone Shitwagon - Coming Soon To A Dealership Near YOU!!!!!

As long as dumbass buyers just gotta have dumbbass Truckzillas, they can expect to get soaked.

[OAITW r.2.0]

26. Bought a 2018 Ram 4x4 1500 in 2021, coming off lease.

I thought the $32K price-tag was outrageous. But now I see 2024 Ram 1500 4x4 prices and I am amazed and wonder....how do people starting out buy one?

[calguy]

28. I remember back in the '40's and '60's...

The average contract for a new car was two years. Now it's like 5-6 years, even 7 in some cases to pay off one of tbese over-priced, over-loaded vehicles they're selling these days.

[Bluetus]

29. FWIW, this report says the average new car costs 9 months wages

which is actually pretty consistent with history and down considerably from a year ago. That is mostly because for the first time in 40+ years, real wages for a broad swath of the American work force have gone up.

https://www.theautopian.com/the-average-new-car-now-costs-a-family-less-than-9-months-of-income-to-afford/

And one should also consider that cars last MUCH, MUCH longer than they did a generation ago. Every day, I see 15-year-old cars that look almost new and seem to have no mechanical problems. One of the more surprising cases to me are Saturn cars, a brand that GM shut down in 2009. I still see lots of them and they look great, probably because they used resilient plastic door panels and fenders. It is very ordinary for cars to last 150,000 - 200,000 miles without major repairs.

Part of the statistical anomaly here is that about 15% of the purchases are EVs or hybrids. They cost more, but there are but fuel savings over the useful life, so that distorts the "price of a new car" statistic.

[Xolodno]

34. I always buy used.

You may not get the color, features, etc. you want, but as a remote worker, I just need it to get me to the grocery store and back. If I go on a long road trip, I rent a vehicle.

And I buy through the rental companies, as they maintain the vehicles with rigor, plus the price is mid ranged. You walk in, test the car, come back in and sign the paper work. None of the back and forth with a sales person and my time is valuable.

Add to that, when they have a problem car, they don't sell it and put it up for auction. Where dealers pick them up and sell from their lots.

[Kaleva]

35. I've only purchased a new vehicle once in my life

That was 25 years ago.

[Blue_Tires]

36. Well, what were people expecting?

Consumers now expect all the technology connectivity and other amenities standard now... They also expect touchscreens the size of dinner trays, 16-way power adjustable seats, oversized option wheels with ZR rated Michelin tires, and enough oomph in the powertrain to comfortably pass that other jaggoff on the interstate who's only doing 90 mph in the right lane...

All this stuff costs money, people! And God save the poor souls paying 10% APR on their $80k car or truck...

[Blue_Tires]

37. "The more they charge for a car, the more money they make off it."

That there is some hard-hitting journalism 😅

[JI7]

38. And we ask why we lost

and I'm not referring to the cost here. But the lack of concern for the environment and people wanting bigger shit.

I'm referring more to the culture . Especially our consumer culture.

[soandso]

39. I bought a used car in 2020

which was rough because inventory was very scant. The dealer I bought it from sends me regular emails wanting to buy it back. No way. I am soooooo grateful to have a good car that was what I wanted.

[Meowmee]

40. I have to buy a new one

Mine is 20yrs old and has bad undercarriage rust. Due to new liability laws no one will fix it. I am dreading it, otherwise it is still a great car and I would continue driving it forever. I have seen prices way lower than that and I will probably get a pre certified older car this time. Just one more thing to worry about because it will not pass inspection next time they told me.

[Yavin4]

41. No better proof that the whole economic anxiety argument was bullshit

People struggling economically do not spend $50K on automobiles, and auto makers wouldn't sell them if the economy was as bad as MAGA said that it was.

[kerry-is-my-prez]

43. I don't buy a car unless my car dies and it's too costly to fix.

I had an old Mercedes that actually was a vintage car. I have a 2011 mini cooper that is paid off that I plan on keeping for as long as I can also - I hate shopping for cars.