Why Cheap Cars Are Disappearing
Why Cheap Cars Are Disappearing
There are about 40 different car brands in the United States, but one kind of car that appears to be disappearing is the cheap car. Historically, about 20 percent of vehicle sales would have transacted below $20,000; however, they have completely dried up in the last few years. New cars are becoming more expensive, and it is unlikely those cheap cars will ever be back.
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Why Cheap Cars Are Disappearing
The younger generation doesn’t want to wait…for apply carplay?? Wanting heated seats would be luxury but being able to plug your phone into your stereo system? I think not…
Just rent a SUV for a trip and i never want this piece of garbage near me again! Confort check, tons of tech check but all the rest its just not there!
In 1920, the average salary is $3,269 per year, a car only cost $650-$850 on average.
Today, the average salary is ~$35,000, the average new car cost $37,876.
People want cheap cars but don’t want small cars. Young people have families too. Get a comparable midsize for 18k- it’ll sell.
If you want a cheap car buy a used expensive car
Wait for Chinese manufacturers to flood ur market
They missed (or intentionally avoided) how the housing-crash era "Cash For Clunkers" program took a lot of good, reliable used cars off of the road. This caused used car prices to hike and people started thinking "why buy a 4 year old used car for $15K when I can get a new one (with some sort of warranty) for just over $20K?"
They also have completely avoided how COVID’s impact on auto production and transport may effect auto supply and pricing come 2021-22.
Another fine example of how America quietly loathes the poor.
just buy a used car. young people especially should not waste too much money on a depreciating asset!
Bye Bye Sedans
20? something for a Camaro, Mustang, Challanger must be concidered cheap where I live in north EU, heck even with a boring engine and no frills basic with no extras. 90k however, well that is ludicrous expensive even where I live, did not think they went that high even if says something like Demon, Shelby GT whatever..? That is almost touching Porsche territory and I am not the one counting horsepower like it is everything either, power means a lot sure bu Camaro in this world from a production line will ever take on a premium German in terms of quality and feel, that thing hard to put the finger of but experiences, touch, smell, a finger on the steering wheel and feel everything.. Ohh well that is only me, I would likely go for a Corvette if I want something fast cause I don’t have the $ for the best Europe can offer. Maybe even a Tesla hahaha, sure fuel here is crazy expensive perhaps even among the most costly in the world and 90% of it is just taxes, upon taxes. The engine noise is something you Americans really understand though, satisfying to say the least.
Here’s the reason they’re disappearing, SUVs are destroying the compact market and pre-owned vehicles are better for young people. New cars are terrible for first-time buyers. Realistically, buying a new car is a terrible financial decision
This will open up a giant window for Chinese cars.
US new car sales peaked in 2015 at 17.5 million units.
Dumb but I can’t complain: bought a brand new Chevy Spark for under 10k three years ago. Still runs like a champ and fun to drive.
Y’all buying SUVs are just burning cash imo.
This video is only for Americans with credit cards and loans everyone else uses money and budgets
"More expensive features like bluetooth and apple car play." You can get both in an aftermarket stereo for less than $500, but the automakers package them only in trims costing several thousand more. Oh you want all those features? Ok, but you have to get these overpriced wheels, some cheap carpet we value at $800 and 3rd row seats. The automakers are doing this on purpose.
Cars need to be 5,000 or less new. Without bells and whistles. 20,000 is too high.
If Andrew Yang was president… More cars would be bought #freedimdividend
Basic car is the best, hitech cars are more complicated and costly to maintain. Personally I still prepared manual transmission and cheap cars.
To be honest its cause is the death of the working middle class + the new electonics in the car Eighter you are short on money and buy some older used car, or flush enought to buy a status symbol car thats more expensive. Middle class cars just dont have a target demographic anymore.
Bc republicans and democrats cheer bailouts of bad business models which props up higher prices. The love affair between big business and republicans and democrats is the foundation for corruption!
My definition of cheap is under $10k. And buy USED, save money.
…and unnecessary long interviews of guests who explain the same points the narrator repeats…interesting topics presented in time wasting way
THE NUMBER ONE REASON IS GREED!!!
Conclusion= go by a second hand car ey last longer like the new1😂😂
Gas has been extremely cheap for a couple years now. I’m sure that plays a role
I can fix everything myself on my truck from 1990 short of a rebuild.. today’s cars just can’t offer the amount of DIY cost savings that older cars do.
Cadillacs are expensive but worse than the least expensive cars available
You take a lot of time to get into the point of the video! I hope you make your videos shorter! Too many bla bla bla and repitiotions☹👎🏻
Dear Auto: Industry I don’t want or need all your techo BS in my car…I know how to drive.
Talk about the auto industry being in bed with the auto insurance companies!….auto insurance companies are price gouging @ a all time high!!!!…..credit score shouldn’t have nothing to do with your safe and responsible driving history/record!!!!!!!
I paid $13k for my brand new kia spectra in 2008. I still drive her today. Best car I’ve ever had.
High Tech in all automobiles should be standard now & no one should have to pay a premium for safety!!
Between my 2019 frontier 4×4, my lexus ex 350 and my 2011scion xb, the xb is my favorite car & cost me the least. They stopped selling them bc they know the economy here is going to crash hard. Many car makers are shrinking their choices. Nissan is getting out of the van biz. Ford stopped selling most of their cars. etc.
They should raise the prices significantly so they are not cheap anymore
2:12 spark . I have a car called spark . Spark is a good car especially speed is nice
In my country the local brands like rebadged Daihatsu and Geely are selling for $8000-9000 and they’re either compact Asegment hatch or the 1300cc sedan with 4at gearboxes,but still i consider them as expensive
But the sedan is quite feature packed tho
Ah yes, used 2016 honda civic is my dream car when I get one.
This sounds more like an argument for prices to go down. But what is barely touched on in this analysis? Poor people, rural areas, used cars, and how long people will keep their older car. The video also skipped over the fact that the number of "cheaper" cars went down post 2017. That was when the economy went from a slow recovery to a faster one. This video just seems to be dancing around all the facts to just make a point which isn’t as accurate as it could be.
For example, as there are more people with jobs and money, there will be more sales of expensive cars. As the cars last longer, the sales of all cars will go down and used car sales, which will be under $20k, will go up. Then there is the climate challenge. If older cars are kept around, then the "zero emissions" car will be harder to get to market. And as laws like California’s, where they will stop selling ICE cars and only electric, will end up is a sharp end to sales of new cars and a lot of used cars on the road..
Sure, an 11 minute video can’t cover everything. But it seems a bias in the story is evident.
The teeny-tiny noodle perceptually rob because icon reassuringly separate amid a far-flung dedication. stimulating, dirty edger
This feels like a Pre-Covid trend that could already no longer be true. (From the Consumer’s point of view)
Just buy older and more reliable cars, i’m young and i drive a 16 year old mercedes. has not failed me once.
Cheap cars are disappearing because greedy corporations keep getting even more greedy.
The Government manipulate market. First with gasoline prices, air pollution, than intre
Nissan versa is garbage i drove it for a minute and hated it. Felt like the bare minimum cereal box materials type car.
Buying a car is a scam. The moment you drive away from the car lot, it has already devalued by at least 20%, just because it left the yard. Honestly, try to re-sell it one minute after you buy it. EVERYONE will assume that something is wrong with it and prefer to give a couple of grand extra and buy a new one themselves, ergo YOUR car now is *at least* 20% less valuable, because that is the minimum margin that would convince someone to buy from you your "brand new car plus 10 miles on the odometer" and not buy a new one.
I drive the family car, by the way. Built in 1992. Still going on just fine. Why would I want to buy a new one that will develop problems in computer systems within 5 years? And even if I were to replace my old car, why wouldn’t I buy a used car for a fraction of the value the car dealers are selling them? With 20.000 I can buy four decent cars in the span of two decades (assuming each one will last 5 years, which is quite a modest prediction). Give me *one* reason, why I should buy a new one then.
We need to cut out the middleman dealerships and start letting them sell direct to consumer
And the media and celebs will continue to push that banning straws and single use plastic bags will be great for the environment and nothing about encouraging people to use smaller cars whose production and future use which would make a much greater impact for the better.
The smaller SUV built on a sedan chassis is a good idea. The past was all about making commuter cars look like some sort of race car. When you can make a more spacious vehicle that will suit a family on the same platform as an I30 then it just makes sense. Not everyone thinks that a car that looks like a sports car is a good idea. We drive through the city and towns at regulated speeds in our $20,000 Toyotas side by side with $50,000-$500,000 sports cars and arrive at the same time in good comfort and safety at a fraction of the cost. The old racer car shape is just a bad use of space for 90% of people who just dont care if they look fast or not while commuting.