The fact that the average person was able to afford a new car was one of the metrics by which the American middle class was once measured. But like so much else with Joe Biden and his team of saboteurs controlling the White House, that’s officially gone. A senior economist at Cox Automotive said this week, “The idea of a new car in every American’s driveway is not the world we live in.” Why not? Because new cars have now gotten so expensive that a majority of Americans can no longer afford one.
According to Cox Automotive, the average monthly payment on a new car in America is now $777. That’s almost double what the average car payment was when Donald Trump was in office. Between 2009 and 2019, the average monthly payment for a new car hovered right around $400 per month.
The price of new cars started to tick up during the imbecilic decision to allow states to lock down their economies during the pandemic. That short-sighted move led to supply chain disruptions, especially when it came to semiconductor chips from Communist China.
But the chip shortage is behind us. There is no more chip shortage, but the price a new car – and a used car – have continued to rise dramatically in the era of Joe Biden. The average price for a used car from a dealership is now $544 per month. The total price for a new car has risen by 30% since Joe Biden has been in office. The average is now about $50,000, compared to about $35,000 when Trump was in office.
Using the logic of Joe Biden Economics, this is all your fault. Or the fault of the greedy car dealerships.
For example, Biden continues to insist that the reason why the price of gasoline and diesel is so high is because the oil companies are greedy. They’re deliberately not pumping enough oil to meet demand, because they’re trying to make more money. He’s also blamed gas stations for having to charge customers more for gas.
It’s ridiculously stupid and lacks even the most basic understanding of supply and demand. But that’s Joe Biden Economics for you.
In the case of the price of new cars, it’s the exact opposite. The car manufacturers are deliberately driving the price of cars up, by intentionally restricting manufacturing. They’re not producing enough supply, because they’re happy seeking out two types of buyers right now. Those are rich people, and desperate people who are willing to put themselves perilously into debt because they need cars.
Ford and General Motors now openly admit this in their business meetings. They ship manufacturing overseas, and now they’re crippling the American middle class (who no longer have those manufacturing jobs) with ever-higher car prices. And they’re profiting a great deal by doing this.
Donald Trump would have solved this problem in five seconds. He’d just tell the automakers to bring their manufacturing back to the US from China, or he’d pummel them with tariffs that would ensure their profits plummet.
Joe Biden won’t be threatening tariffs on anything being manufactured in the homeland of his masters. This is literally part of their green new deal plans. They want to make new gas-powered cars so expensive that electric cars will look favorable by comparison. And since only the rich will be able to afford new cars anyway, the middle class slips further behind and most of us lose the ability to travel cheaply.
The automobile has represented freedom to every American since the invention became widespread. You can move to any other state except Hawaii if you own a car. Without a car, or even with an electric car, your mobility is severely restricted and you can’t go anywhere. And that’s the whole point with the people in charge.