'The Least Affordable... In Modern History': In Biden's America, The Average American Can't Afford A New Car

Under the government of the Democrats and President Joe Biden, inflation has risen to the extent that many Americans have had difficulty purchasing many of the essentials of life, but none more so, than a car. 

As reported by The Daily Wire, and cited by CNBC, new data from the car shopping application CoPilot has found distressingly that only a scant eight percent of all new cars on the market today cost under $30,000. A precipitous drop of 38 percent since the COVID-19 pandemic and corresponding government-inflicted, economic catastrophe began.

CoPilot’s CEO Pat Ryan told CNBC, “It’s the least affordable car market in modern history.”

Reportedly automakers, leveraging up on the market for more expensive SUVs and full-sized trucks, have diverted production away from more economical cars.

The outlet noted that for new cars the average transaction totaled $47,892 in May 2023 at a near-all-time high, citing a study from Edmunds. Only 0.3 percent of all new vehicle sales were less than $20,000 down, 7.7 percent from just five years ago.

The trend is pushing consumers to either purchase older cars with greater mileage thus increasing maintenance costs or keep older cars on the road longer much to the same effect.

“Those that have the least ability to pay are getting the car that’s going to cost the most to own,” Ryan said.

Fox Business, citing Edmunds, observed that while used car prices are down 6.4 percent since 2020, they are still an eye-watering 44 percent higher than they were in 2018.

"The good news is that used prices have softened enough in Q1 to offer some relief for consumers getting pushed out of the new market," Edmunds Director of Insights Ivan Drury said, according to Fox.

"The not-so-good news is that the used vehicle market continues to be challenging for car shoppers since there are fewer vehicles available and demand is keeping prices historically high." 

Drury noted that consumers who haven't purchased a car in recent years are due for a shock due to the shift to higher-end vehicles making more economical cars less available. Edmunds reported that even used cards under $20,000 are much more difficult to find. Five years ago over 60 percent of used cars purchased were $20,000 or less, today that's down to 30.6 percent.

"Consumers returning to the used market for the first time in years might find conditions a bit shocking: Not long ago, $20,000 was seen as an acceptable amount to spend on a used car to get an optimal blend of miles and age," He explained. "In today's market, $20,000 puts consumers into a much older or much higher-mileage vehicle." 

The car, in many parts of the country even today, is NOT a luxury. In rural and mountainous areas particularly, as opposed to suburbs and cities, a functioning vehicle of modest capabilities is utterly essential for both family and individual success. The loss of access to that resource is a devastating knock-on effect of the economic damage sustained by the American people, at the hands of our own government.

With Americans turning to the ballot box in 2024, the critical mass of an inaccessible auto market, overall inflation, and job growth that only lives on White House paper, the conditions are right for a rejection of the policies that brought us here.

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