The headline of this article is what the average price paid for a new car was last year. Another record. A related number is the average family’s income, which is about $67,000. The average individual’s income is about $44,000.
These are some interesting numbers – especially when juxtaposed.
It would take the average $44k-earning individual more than one year’s pay – pre-tax – to buy a $48,000 car.
It would take about 75 percent of a $67k-earning dual-earner family’s pre-tax income to buy a $48,000 car.
Which of course is why they both finance the $48,000 car neither can remotely afford. Many of them for seven years – or longer. More about that – and the inevitable outcome – here.
Two years ago, the average priced paid for a new car was about $35,000. So, about a $13k increase over about two years.
But why have new cars become so expensive so suddenly?
Incomes haven’t increased to match, obviously. And “inflation” – i.e., the diminishment in buying power of money – hasn’t, either. At least, not that much.
The reduction in the buying power of money – which manifests as having to spend more of it to get the same (or less) – accounts for only about half (about $6k) of the roughly $13k increase in the price paid for the average new car last year.
The other half can probably be accounted for by . . . electrification. Or – more accurately put – the pushing of electrification, which has been almost as aggressively pushed as the drugs that aren’t “vaccines.”
Two years ago, there were almost no EVs on the road – other than Teslas. Two years hence, GM, Ford, BMW, Audi and even Hyundai have EVs in their portfolios. Most of them, interestingly enough, sticker for around $50,000 to start. It is upticking sales of these vehicles that is pushing up the average sales prices of new vehicles.
EVs have gone from being hardly a blip on the radar screen of overall new car sales – about 2 percent nationally just a couple of years ago – to more than 6 percent as of last year (2022). Tesla still accounts for the lion’s share – about 300,000 vehicles annually – but when you add in the others, the total number of EVs bought last year approaches half a million. This also approaches the total number of Ford F150s sold last year – 653,957 – and the F-150 is the best selling vehicle on the market.
More EVs were sold last year than Toyota sold Camrys (295,201) and the Camry is the best-selling car on the market. It is also a car with a starting price of $25,945. It is hard to pay more than $40k for a new Camry.
You can buy a new Civic sedan – which is about the same size as a Tesla Model 3 sedan – for $24,650 – or about half the price of the Model 3.
But sales of the Civic were down by almost 50 percent last year.
Why are affordable cars – all of which aren’t electric cars – losing ground while far-less-affordable electric cars gaining it? It is almost certainly on account of the government promoting the purchase of the latter, both economically and psychologically. No one is being paid to buy Camrys or Civics nor petted on the head for doing so. On the other hand, the government – federal and state – eggs on the purchase of EVs by obligingly promising to eat some of the cost of buying one, by reducing the tax bill of those who do. And those who do are able to bask in the warm sun of social approval, an important thing for some people.
There is also the threat – economic as well as psychological – hanging over the heads of those who do not buy an EV.
It comes in the form of bans on sales of non-EVs already passed in several states. These do not got into effect for a number of years, but they do amount to putting people on notice – right now. What will happen in the intervening years? Is it improbable that government – federal and state – will make it more onerous (more expensive) to own and drive any car that isn’t an electric car? As via “progressive” increases in registration/licensing fees? As via progressively unaffordable – and perhaps unavailable – fuel? As by limiting where – and when – one is permitted to drive a non-EV?
If that happens, the value of a non-EV purchased this year might plummet within just a few years . . . to worthless. That being the value of a thing that is useless.
A 2023 model year non-EV will only be about seven years old in 2030. The non-EV sales bans go into effect in 2035. But their effect will be felt long before then – and already are.
Meanwhile, the egging-on of EVs continues.
But a point will come – for it must – when someone is going to have to pay for all of this. It is possible we’ve already passed that point since most people cannot afford to pay $48,000 for a new car – electric or not – unless someone else is “helping” them pay for it. During the past two years, that someone has been the government – which paid a lot of people to not work – and many of them did something people used to not do when they weren’t working.
That being buy a new car.
It’s like eating sugar when you’re diabetic – but nevermind.
The government will take care of it.
This works for a time. Until the time comes when the government runs out of other people’s money to spend – and hand out.
And when that happens . . .
. . .
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For $48k…
I can find a first gen coyote powered Mustang for a decent price ($12-20k, depending on miles), replace the tires and get a Big brake kit ($5k for everything probably, all things include labor), replace the suspension for another $3+k, Watts link for another $1.5k probably, new clutch and drive shaft (3k).
That’s just the basics (They did have a bit of driveshaft issues), so for $12.5k, got a car that preforms better than new, for a ton less and will last awhile. Engine or trans goes? Get a new one or from a salavage yard, not a big deal.
Even the one with higher mileage is fine, but $24.5-32.5k for a solid beast, whats better than that?
If you work in outside sales and use your car for work, it could be better to lease the vehicle…it is a tax write off.
If you don’t…… buy old pre year 2000 cars or pre emission or pre obd 2 cars that are simpler, cheaper to work on…. if you have the skills do your own repairs and save more money….buy something that still has a parts supply….
if you have the knowledge, buy older cars that might appreciate in value so are a better investment….
Just read somewhere Wyoming is talking about banning electric cars sales !! While I dont ever like politicians “banning” anything between free willing participants – if they have to do what they do, this is prob the best place!! Any hope it ever gets through ?
Wyoming Lawmakers Propose Bill To Phase Out EVs By 2035
The purpose of mandating EVs, outlawing gas-heated appliances, and putting smothering regulations on woodstoves and fireplaces, among other measures is: To force everyone and everything onto the electrical grid which, handicapped by fairy-dust wind and solar nonsense, curbs on fossil fuels, and the utter lack of nuclear energy development, will be totally overwhelmed. This will neatly provide globalists more of the absolute power they so lust for, to impose granular control, rationing and, just say it, poverty on the “little people”; –with immediate push-button disconnection for anyone inconvenient to the regime.
https://www.zerohedge.com/energy/wyoming-lawmakers-propose-bill-phase-out-evs-2035
It’ll be the tale of two sides:
Red States ban EV’s to their benefit
Blue States ban ICE to their detriment
I won’t be here in Dirty Jerzy forever now
get even poorer owning an EV
EV owners say we don’t have to buy gas anymore….lol…..they might spend more for electricity recharging…..
Plus the EV costs more to buy……plus the $22,000 or more battery has to be replaced in 7 to 10 years….plus you will waste hours trapped in your EV waiting for it to charge…..plus 30% of the chargers are broken/don’t work….and often have long line ups of EV’s waiting to charge….and the lithium fire bomb batteries are very dangerous….
ATTENTION: and 80+% of former ev owners say they will not buy one again…no wonder….
Man drives electric Volvo 350 miles to see REAL cost
the return trip had taken him 90 minutes longer than usual, because of time lost recharging…. and cost him nearly £40…$50.00 more.
350 mile trip
cost of electricity,diesel or gas for the trip….
EV electricity recharge cost 88.07 pounds…$108.89
55 mpg ice diesel fuel cost 50.24 pounds…… $62.12
45 mpg ice gas fuel cost 53.28 pounds…… $65.88
https://www.mirror.co.uk/news/uk-news/man-drives-electric-volvo-350-28991522?fbclid=IwAR0PNwzZdlsSNdMnk2bLxDdx0tIWEGRfyeAY58J4L-fy7Yb2R_6fTJDgN2U
Ev’s make up less than 3% of vehicle sales after 15 years on the market (that is a huge market flop…lol),
ATTENTION….he forgot to add in the battery usage cost….$22,000 battery might last 100,000 miles…that is $0.22 per mile x 350 miles = $77.00 added tho the $108.89 electricity cost = $185.89 total cost….the diesel fuel costs far less at $62.12…
$22,000 for a battery to hold the electricity, (and it has to be replaced every 7 to 10 years or 100,000 miles), …lol….the gas tank in your car cost maybe $200.00 and will last a lot longer then the car …….and the lithium fire bomb battery is very dangerous….it is maybe the best reason not to buy an EV
If you can buy a new car, qualify for a loan, you have the money to pay in cash, you just don’t, you pay the interest for the 66 months of payments, then it is yours.
You don’t pay cash, not a wise move, weedhopper. If the car gets totaled, you’ll be hating it that you forked over 30 grand to see a wrecked vehicle heading for the junkyard. A fool never learns.
That’s why you make payments and pay full coverage, just in case something does go wrong, you won’t feel like you’re out the 30,000 dollars, which will still be in the bank or someplace else, it will be there.
The interest paid on the loan is then an investment, you still have the 30 grand, the bank can write loans for 300,000 dollars with the deposit as a backstop.
You pay 5,000 in cash to buy the used truck for sale, the bank won’t mind.
Information Liberation dot com is where anti-Semites hang out.
Easy to hate. Not a problem.
“You know my daddy, lord, he died in a train wreck,
You know my Momma, she died a fool.
You know my middle name is Natural Born Trouble, lord.
And my last name it is The Blues. Oh yeah.
And my last name it is The Blues.” – Hoyt Axton, Thunder ‘n Lightnin’
Here in Missouri they not only tax our homes, (like the 1st plank of the Communist manifesto advocates) they also tax our cars, trucks, and tractors.
I won’t even own a $5,000 car, in this Communist State much less a $48,000 one!
These taxes are great for car sales. NOT…
Amen, Joe –
The same taxes (they call them “personal property” taxes here in VA) are another reason I keep my 21-year-old little pickup.The bastards still send me a bill for $75 each year – after all these years. And to those who say, “$75 isn’t much!” – add it up. Even $75 – over 21 years – is $1,575. And it was not “only” $75 until the past several years. Before – when the truck was newer and had more value – it was $150, or twice as much.So, over the years, I’ve paid at least $2,000 just for the privilege of owning a modest, base-trim compact-sized 2WD pickup with a four cylinder engine. Using money they taxed. After having paid sales taxes. Gas taxes. Etc.
Most of us could have retired at 50 were it not for all the wealth stolen from us by these parasites.
$75.00 per year invested at 7% compounding, in 40 years = $19,000
what about car insurance?……..$1000.00 per year invested at 7% compounding, in 40 years = $258,000….no wonder people have no money….
I quit eating in restaurants because of this……….
If you cook for yourself it could cost $8.00 to $10.00 per day total for three meals .
Eating in restaurants can cost $45.00 to $60.00 per day, $1050 to $1500 per month more then your own cooking, just for pretty much fast food, no wonder people are broke…..
If I save $35.00 per day cooking my own food, for 3 meals it takes 1 hour total, so I am making $35.00 per hour, tax free……. (I am a fast cook), a good part time job.
You also save on health care costs by avoiding fast food/low quality food.
this doesn’t include $5.00 starbucks drinks or rip off $2.00 crappy coffees…note: coffee can be made for 5 cents to 10 cents a cup….lol…after I did the math on this i am reluctant to even buy coffee…lol
If you invest $1,000 every month for 40 years at a 6% return, it will be worth $1,991,545.25
$1.99 million dollars just from one person
Auto Crisis Worsens As Rate Of Severely Delinquent Loans Hits 2009 Levels
https://www.zerohedge.com/markets/auto-crisis-worsens-rate-severely-delinquent-loans-hits-2009-levels
Hi Anon,
Yup… here it comes. 2023 is a going to be a humdinger.
Don’t buy things you don’t have cash for. Can be hard to avoid with big ticket items but you’ll be better off.
Cars suffer from the same problem as college. Cheap money makes more customers.
I do wonder if Civic & Camry buyers are having a harder time in the job market, while EV buyers haven’t been hit yet.
$48.000 is shocking but that number is not very useful.
Very few people will be paying $48,000 cash for a vehicle.
I know that for a fact because I paid cash — about $25,000 — for a 2016 Toyota Camry the last time I bought a car. They looked at me like I was an alien from another planet when I wrote them a check for $25,000.
That happened after they told me I had a “zero” credit rating. I complained that I bought a 2005 Camry from them using a six-year loan (at only 1% interest) and paid it off in six years, so how could I have a zero credit rating? They replied that I had not borrowed any money since 2005, and my prior loan was in 1987 to buy a house, a 30-year loan paid off in 11 years. I claimed I should have an EXCELLENT credit rating because I almost never need to borrow money. They said I was a high risk and had to pay 6%interest rather than a very low rate for others. My blood pressure was rising so I wrote a $25,000 check. I can not stand auto salesmen.
My wife retired at age 51, and loved not working. I spent the next four years estimating when I could afford to retire too. One of the calculations was the cost of a car. I decided we could live with one car if we were both retired. Just like our parents did. So I was able to retire at age 51 too. Bought a 2005 Camry and drove it for over 210,000 miles.
The cost of a car is the monthly payment x the number of months of the loan
Plus 6% sales tax here in Michigan.
Then there is the monthly insurance which I just bought here in Michigan for about $100 a month for six months on a 2016 Camry — expensive insurance here. Add gasoline and oil changes. Add other maintenance and repairs (very low for Camry).
$48,000 a 1.06 = $50,880 here in Michigan with our 6% sales tax
$50,880 financed at 6,19% interest for 72 months (6 years) = $848 per month
$848 a month plus $100 a month for insurance is $948 a month
The insurance price per month will be increasing, probably faster than the inflation rate, but I left it at $100 a month for simplicity.
$948 a month for 72 months is $68,256 over six years cash expense.
After six years the vehicle will still have residual value, with 14,000 miles a year driving as the average, it would have 84,000 miles on the odometer.
But you will have spent $68,256 plus gasoline, oil, repairs and maintenance.
And that’s a lot of money!
I hope these calculations are correct !
The chart at the link shows the MSRP of a Ford F150 and a Toyota Camry over time versus the official CPI number for new vehicle prices. Makes one laugh at the CPI numbers
https://el2017.blogspot.com/2023/01/this-auto-price-chart-on-home-page-is.html
Hi Richard,
I’ve maintained for years that buying a car you cannot just buy (in cash) is the second-best way to chain yourself to endless debt – after a house you cannot afford. I have never bought a new car – even though I could “qualify” to finance once. They’d finance my dog, Pace, of course. The most I have ever paid for a car was about $7,500 for my ’02 Nissan pickup, more than twelve years ago. It is worth about $4,500 right now – easily – and probably more. But, assume $4,500 for the sake of discussion. That means I have spent about $3,000 to own this truck, not counting maintenance and fuel, etc. So, about $25 a month, amortized.
And that’s why I can afford to not whore myself out “sponsors” – and have been able to keep EPautos a peddler-free zone as well as a free speech zone.
someone said….the reason people are poor is because of their cars…..with EV’s it just got worse….lol
Richard,
I’ve been debt free for 30+ years, so I too have no credit rating. A fact which I discovered some time ago one should include on their resume, since prospective employers are likely to check your credit rating.
Indeed, while allergic to “new cars” (not paying five grand to drive one off the lot), I have bought a couple of rather high priced used ones, with cash. As in greenbacks. Which REALLY puts a kink in the finance department’s tail.
Regarding financing a loan. Creditors look at 3 things when making a loan. 1. Do you have the ability to pay (income). 2. What can secure the loan, house, real estate, car, tangible asset, accounts receivable (something I can take if you don’t pay). 3. Are you a good little payer of bills. Number 3 is your FICO credit score. If you pay your bills on time ALWAYS, you get a good score 750+, If you don’t pay on time your score lessens. If you don’t have creditors that report to the big 3 credit agencies you get a bad score. I have credit cards I use for business. I always pay total bill every month. That lowers my score.
The ideal credit consumer pays interest. If you have a lot of cards, always pay at least the minimum every month and NEVER miss, the creditors love you and give you a higher score. So you can borrow more. Just like a casino.
I apologize for the lecture. Most if not all folks that follow Eric understand the above. Unfortunately most people do not. I know this from my personal experience.
Hi Ugg,
A friend of mine who runs a successful business as an auto mechanic never had a credit card or took out loans and paid cash for everything, including the land he built his house on. He got divorced and needed to get a loan. Discovered he had “bad credit.” This is a guy who is probably the most responsible guy I know with money. Zero debt. Lives well below his means and always pays his bills – in full – with cash. But – as you’ve explained – this sort of old-school financially responsible living is punished by the shylocking industry, for all the obvious reasons…
Gotta love that No ICU cars sign. CO2, a required gas for all life on the planet, especially the unappreciative ‘carbon units’. And who paid for those roads and byways being mulcted by their ‘pubic servants’. Amazing how those commoner carbon units don’t tell them to kiss off and many actually seem to enjoy maimed, killed and otherwise shit on.
John Kerry, the USSA environmental shill for Klaus Adolf Schwab, said the word “Money” seven (7) times during his speech at the Davos Country club of our betters. Our money buying our enslavement. Soon we’ll eat ze bugs, live in a 150sqft (maybe) squalor, no travel outside your zone, and apparently thank our betters for saving us.
And remember the NAU? The North American Union…. Itttt’s baaaack!
Eric fails to mention the full cost of spending that $48,000 is actually far greater — after giving the government Mafia its cut.
The government will take 7.65% for Social Security, and, assuming you’re in the 12% (lowest) bracket for federal income taxes, at least that amount. Plus, in my jurisdiction, about 6% in state income taxes. Add that up and it’s 25.65%.
So you have to earn $65,000 in order to have $48,000 left over to buy the car: 65,000 x .7435 = 48,327.50.
But wait — in my jurisdiction, sales tax on that $48,000 car is 8.75%. That’s $4200. So the real cost of the car is now $52,200 (excluding title and registration and insurance).
So you need to earn about $71,000 to be able so spend $52,200 after the government takes its cut.
Of course, if you’re self-employed, your Social Security tax is double, or 15.3%, so factor that into the equation and re-calculate.
It’s mind boggling when you calculate how much of a tax slave you really are. The rational thing is to do is to drop out of the economy as much as possible, and spend as little as possible, not only to avoid paying inflated costs for goods but to avoid feeding the government beast.
Of course they know that, which is why they are trying to go after anyone who makes more than $600 and why they are trying to replace cash with digital currency.
When inflation weaves its evil magic (courtesy of government and the federal reserve) wages and salaries are the last thing that gets any adjustment. Try going in today and asking your boss or owner for an 8-9% increase starting today. Most employers are going to resist this very hard, and you likely will have to change jobs and work the marketplace for any chance at an increase like that. Trying to go out to your customers today and say there is an 8-9% increase in price for my services. Your customers will immediately bid out your services to others to see if they can get it done for same or cheaper.
Maybe there is a bigger plan afoot? GM and Ford will complain sales are down significantly then call in the federal government to nullify their union contracts. The new workforce coming across the border will be building cars. UAW se habla espanol?
Buy a car or $48K…you’ve got to be effing kidding me. 3-years ago that was BMW money.
Finally got my truck into the shop to change oil and replace the brakes, new rotors and brake pads all around. Drives like it is new. After 166,224 miles, the brakes were shot. Wasn’t easy to do, you need a shop with tools and a lift to make the job go as planned. Have had to spend a thousand dollars to have the truck a better vehicle to drive.
My house is so old, two light fixtures are not light fixtures, they have glass reservoirs for the lamp oil, they were converted probably 80 years ago. It was fixer upper, didn’t pay an arm and a leg. However, I know I have paid more than triple the cost of the house in taxes and insurances, remodels and upkeep.
The gov knows a cash cow when they see one.
Then you become too old to be a breadwinner in the working world, just makes you cry. Everybody else is much younger and basically don’t need you anymore. My children are adults and they work, not me.
Can’t avoid chores and tasks, they’re always there.
“You ain’t seen the last of Ernest T. Bass.” – Ernest T. Bass
drumphish,
I’m likewise too old to be the breadwinner, but I won enough bread when I wasn’t. No one owes me a damn thing, but due to my generosity toward my progeny they are grateful that I won it, and are pleased to help me out. They don’t need me per se, but they do seek my wisdom, and appreciate it. One can’t live 68 years and not learn something. Unless they are among those who simply believe everything CNN says. Having imparted the libertarian anarcho-capitalist philosophy to my progeny, and convinced them to home school my grandkids, you ain’t seen the last of this Ernest T. Bass either.
I needed a truck during the pandemic, found an old guy online with a Tundra with 200k-plus miles in fairly new condition. I paid him cash and drove away in the truck. Put a new head gasket on the engine, a new exhaust and cleaned up the engine bay. I buffed out the paint and got a body shop buddy to help with some touchups and a new layer of clearcoat. Then I spent about $8k for new wheels and tires, suspension upgrades, skid plates and installed a winch I’d had on my last truck that is in good shape.
I put in weeks working on the truck in my garage, but the final result is a TRD Pro with better suspension for less than the price of a new Civic or Corolla. These people that are spending $48K for a car are out of their minds.
For $20k, I got a truck that I’ll drive for the next 15 years and likely hand down to one of my children. It runs like a top and tows my boat and car like a pro. Looks and sounds new, but isn’t!
dr_mantis_toboggan_md,
Indeed, one can do a LOT of work on an old one for a fraction of the cost of a new one. I’m driving an ’05 Accord with about 200k on it, and I suspect I could put it in near new condition for 10k or so. But no more than I drive now, if I can get another 50k out of it, that will likely outlive my need for it.
Hi Eric, great article. These ideas would be the kind of things taught in school if we weren’t living in clown world. The fact that so many people look at the weekly/monthly payment and not the purchase price is testament to the economic illiteracy that plagues the world. These people know the price of everything, yet don’t have a clue as to the value of anything.
Its becoming harder and harder to live in a world where doing the right thing makes one feel like a Salmon swimming upstream. As the death of the Dollar looms large, being responsible, living below ones means almost feels like a fools errand.
Seems you wrote about 500k liquid being able to purchase your freedom. That would be an interesting discussion. I’ve been taking steps to secure my freedom for almost ten years, and although much closer to said goal, living in the US, I still don’t feel entirely free. It always goes back to that whole ‘no man is an island’ thing.
Norman Franklin,
Not just the purchase price, but the TOTAL price, including the loan interest, and compelled insurance, which has become a real thing now.
Hey John, No compelled insurance on our paid off properties. No interest either, makes life less stressful. Still cant get away from the pesky property tax thing, unless you want to live off grid in the wilds of Alaska.
Norman,
I left out property and sales tax.
I financed two trucks when I was making a living with them. Other than that, a few trucks I used and ALL my cars were paid for in cash. I’ve been debt free for almost thirty years, and it’s truly remarkable how fast money piles up when you have no debt. SS benefits are a saving wage for me. And no income tax.
I believe it’s actually worse than that, Norman. They look at the economics and simply accept that they are serfs/debt peons/subjects. And they figure they’ll never be able to afford anything anyway but if they put their head down, don’t make waves by insisting on their rights, they can have just enough cash flow to enjoy a shiny new car and a shiny new house. So they take their drug test, they wear their mark, they take whatever injection they’re told to, and if nothing goes wrong they can retire from a miserable existence after 50 years of wasted life, and maybe hobble around in poor health for a year or two before they croak and massa government takes most of their pitiful estate.
Freedom is hard work and takes risks- there is no way around that. It appears that most people are just too damned lazy, stupid, and greedy to be free.
Oddly enough, those of us who learned early are often quite wealthy, if not in fiat cash, in physical things of real value.
Hi Ernie, Most people are filled with fear, unable to pursue their own place in the sun. I was fortunate as well to have learned about freedom at an early age. It is a continuing education as you get older, and learn more. I wonder at those who live and work a humdrum existence their entire lives, all in order to sit around the last few years and die, either suddenly or slowly.
Thats a great thing about Erics place here. All of us, or at least most, have lived, or are living lives as we see fit. Not like those who lead life’s of quiet desperation. Debt and death is all the powers that shouldn’t be have to offer. I’ll take a life with the animating contest of liberty and an unknown ending. At least then I;ll have a story or two to tell
Ford Options is an alternate way to purchase the Mustang Mach-E ®or F-150® Lightning™ with lower payments, greater flexibility and a straightforward return process.
Ford Options is a retail balloon financing plan where you make lower monthly payments during the course of the transaction when compared with traditional retail financing and a balloon payment at the end of the contract term. At the end of your contract, you’ll have the option to pay your balloon payment and retain your vehicle, renew into a new Ford or Lincoln or return your vehicle.
Balloon payment? That’s future guy’s problem! You’ll own nothing (and owe everything) and be happy.
https://www.ford.com/finance/finance-options/ford-options/
Like a lease….but maybe different tax write off….
A Porsche salesman says a lease is best for most people (I agree…you don’t want these new crappy, over complicated cars with no warranty)…
Don’t remember if it was here or somewhere else, but the suggestion was the best car for you is the one you can write a check for. 7+ years on a car/truck loan appeals to the “poor mentality” of asking how much it is a month, not how much is it.
Since there is no effort to expand generating and grid capacity to accommodate all these EVs, or even air conditioning, many of them will become bricks as well. Or power storage devices for the utility companies, when your smart meter steals charge from your EV to rescue the grid. Car makers, especially in the US, are in a suicide pact with the US Psychopaths In Charge, over this “climate change” fraud. As are new car buyers. Which is actually a de-mobilization plan. Moving targets are harder to hit. They don’t want you moving.
50 years ago you could buy a really nice house for $48k. And a decent car for $2-3k. And over the cliff we went. After the last connection between the dollar and Gold ended. And the state could do whatever it wanted, because THEIR funds became unlimited.
The house my parents bought for 29,000 in 1966 is now zillowed at 2.1 mil. CA bay area.
Exactly John,
Up here the push is on for heat pumps, which are ok in moderate cold but suck when it’s really cold and windy outdoors. Meanwhile the nimbys are opposed to any new power lines, pipelines, or generation. A total disaster waiting to happen.
Zerohedge had an article explaining one of the joys of EV ownership or maybe not:
https://www.zerohedge.com/markets/man-discovers-brand-new-ev-hummer-will-take-five-days-fully-charge
Somehow I’m suspecting when more of the population begins to experience pitfalls like slow charging, shorter travel range when extremely hot or cold, expensive replacement battery costs and cars catching fire they will demand an end to the all EV future but maybe I’m being optimistic.
Can any one see ANY upgrades to the electrical infrastructure to allow an all EV future? Heck even Maine admitted they would need about 7 nuclear power plants to be built to allow that to happen. Like that’s going to happen. And unless you have at least a 200 amp service good luck home charging but the sheeple say it’s the wave of the future (sound of head hitting desk heard).
Wait till the working class discover the only transportation you’ll be allowed to use is a bus or subway (also known as a rolling homeless shelter). Hopefully protests will be “mostly” peaceful.
On the upside my 21 year old car is still running well, I wish I could justify a paint job but it looks like the old girl will have to get by with just a wax job.
‘If that happens, the value of a non-EV purchased this year might plummet within just a few years … to worthless.’ — eric
Happened to me with an LTE (4G) unlocked cell phone purchased in 2018. Last month I learned that its LTE capability applied only to data. But it was still using the 3G network for voice — and lacked the Voice over LTE function to transmit voice calls as data.
So when Verizon shut off its 3G network on Dec 31, 2022, the phone was bricked. It can still text and browse using LTE data, but can’t make or receive calls.
In the same manner, Big Gov can simply shut down essential infrastructure for our ICE-powered rolling cell phones — whether it’s fuel supply, or simply refusing to register them.
Big Gov’s psychotic unpredictability makes capital investment a minefield for auto-related businesses. Gov-sponsored EeeVee Fever will result in enormous white elephants, while starving advances in the now highly developed ICE and hybrid technologies.
This is how you render the citizens of a formerly rich country hungry, barefoot and immobile.
Hi Jim, my response to .gov’s craziness is not to buy new cars. I’m happy driving old cars and they don’t track you or tell you how to drive (Onstar/ collision avoidance). If .gov kills off the fuel infrastructure I’d be pissed because of my hot rods and motorcycles but I hope by that time people would throw the bums out. Sucks about your phone though.
Landru,
I’m driving an ’05 Accord, and it suits my needs perfectly. That’s an 18 year old car. It does not have an internet connection. Thank God. “Old” is no longer backward. Likewise I would be pissed if my fuel supply was cut off. I’m not young and energetic enough to start cooking my own fuel.
Jim,
I’ve had two phones bricked over ending the service they needed. The first was a Motorola flip phone. Which I really liked. The last was the end of 3G. I don’t ask much of a phone. I want to make and receive calls, and texting. That’s it. It takes hours to disable all the other crap on a new phone. And some of it can’t be disabled, but can be unconnected. Except GPS, because of 911 location, don’t you know. “For my own good”.
John,
Don’t much like phones, not being a natural-born chatterer. As a consolation, I upgraded to a phone that includes a 3X telephoto lens, useful for outdoor photography. Optical zoom beats the pants off digital zoom, which noticeably degrades image resolution.
But I realize that one day, the LTE (4G) network will shut down too, bricking this phone as well. 5G … for the people! (not)
Jim I had the same issue with my Cherokee after T-Mobile shut down the Sprint 3G network. Odd thing is that FCA/Jeep didn’t offer any sort of fix for the problem, not that I cared to do anything about it anyway.
The one time it would have been useful to have remote unlock I was out camping in the Moab area and accidentally locked the keys in. Of course there was no cell coverage even though I was still fairly close to town. But once I got hold of a towing company they were on site in 10 minutes and had it open five minutes later. Apparently it’s the most common call for them.