The average new car in America now costs about $50,000. The average monthly payment hit a record $823. And only 7% of new cars sold cost under $30,000. Americans are being priced out — so what happens to the auto industry?
Today we break down the numbers behind the car affordability crisis: record auto debt of $1.68 trillion, subprime delinquencies at all-time highs, used cars topping $30,000, and why automakers are quietly killing off cheap cars. Plus: what Ford, GM and the dealers are doing about it — and whether a 2008-style auto crash could happen again.
In this live stream:
• Are Americans really buying fewer cars?
• $50K cars, $823 payments and $1.68 trillion in auto debt
• Why cheap cars are disappearing (tariffs, trucks and profits)
• Used cars: no longer the budget option
• Layoffs, plant cuts and dealer consolidation
• Could the auto industry crash like 2008?
Tell us in the chat: What’s your car payment — and is a new car still worth it?
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Sources: Cox Automotive/Kelley Blue Book, J.D. Power, GlobalData, Edmunds, New York Fed, Fitch Ratings, S&P Global, Morningstar.
#CarPrices #AutoIndustry #Economy
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