It’s not just that vehicle prices are too high. We have had record inflation and supply chain shortages, however, even so, adjusted for inflation they are relatively comparable to 20/30 years ago. The problem is most incomes have been stagnated for a long time now and it’s really starting to become noticeable now with the increase in inflation. Maybe it’s that we are all slowly falling out of the middle class and noticing it in highest priced goods (houses, cars).
All I see around me are brand new trucks and SUVs. They either took on massive debt or make a whole bunch more money than I do. In either case car makers are happy to oblige as long as people keep signing on the dotted line. Why would car makers care if I’m unhappy with the car market. I don’t want their bloated $60k truck, but somebody does.
TLDR: Incomes have stagnated and people are being priced out of new vehicles, driving used prices up. Nothing will change in the car markets unless buyers do. Economics 101
All I see around me are brand new trucks and SUVs. They either took on massive debt or make a whole bunch more money than I do. In either case car makers are happy to oblige as long as people keep signing on the dotted line. Why would car makers care if I’m unhappy with the car market. I don’t want their bloated $60k truck, but somebody does.
TLDR: Incomes have stagnated and people are being priced out of new vehicles, driving used prices up. Nothing will change in the car markets unless buyers do. Economics 101
Last edited: