For decades, automakers have hiked the prices of gasoline-powered cars, trucks and SUVs.
New vehicles have many new features, including large touchscreen displays.
Myself? I drive a modest 2015 Honda Civic. The touchscreen, including a rear-view camera, is small. I paid off my car a while ago. That Civic has reached almost 110,000 miles and is still running well.
Since then? Civics have gotten fancier and more expensive. At the same time, vehicle prices have become more expensive. A high-end Civic goes for more than $40,000. Low-end Civics are priced around $25,000.
Back in the day, the likes of Civic was seen as affordable transportation. Today? Not so much.
The U.S. market has moved to be dominated by SUVs as well as large full-size pickups. Consumers have transitioned to big vehicles. The likes of General Motors Co. and Ford Motor Co. have moved away from passenger cars. Honda and Toyota Motor Corp. still offer passenger cars, albeit with more expensive versions.
There is also the question of electric vehicles. EVs are supposed to be the future. EVs are intended to reduce greenhouse gas emissions. What’s more, EVs may be easier to assemble with fewer parts.
Much uncertainty remains with EVs. Ford is idling its F-150 Lightning truck plant from mid-November through the end of 2024, the Detroit Press and other outlets reported last month.
For now, consumers appear to be in a squeeze.
Automakers that used to supply affordable vehicles have retreated from the market. Cars and trucks intended to place such offerings (including EVs) can be expensive.
