or millions of americans. i'll be back at the top of the hour with mobile news followed by the date. i have to see you that the, the in charlotte the currently more people than ever on the world wide in such a book based on life on the bus. and so jessica, committed to actually find out about robina story info, migraines, new cars. this was one's part of the american dream, but now it's out of reach for many americans. because this computers use

cars are quintessential to the american lifestyle such on the affordable for military, affording a call, the maintenance on the n, b insurance overcome has become a major challenge obstacle and problem for many, many 1000 americans. why is that? we'll find out the americans and the automobiles and america. this is a lot of fear, the level of fear lasting more than 100 years, especially relations, driven by the idea of unlimited mobility. and with that feed quite let's talk about what cars are to americans. the land of the free and home, most of the brace unified and it's advertised for more cause, populating an ever expanding highway and interstate system. we constitute the greatest country in the world. great in resources,

and in the vision of all people. great an accomplishment in the past, and equally great and the problem is for the future. the modern united states of america, e one and automobile because it's the easiest way to explore this great country. this country and its economy built upon the idea of untamed growth, fueled by limited mobility guarantee to everyone and for limitless interstate commerce, cars and trucks, all kinds and sizes available and affordable, essential for work and play part of the american lifestyle. if you look back into the early 19 hundreds, it's probably why they created the automobile was to get through the different states, especially when the roads in the interstate network started in indiana specialists races and rallies. indianapolis. hello, hello from indianapolis and from the indianapolis motor speedway,

the trademark raising capital of the world. the whole part of the american dna motor sports and auto show. so you might ask, why are we in indianapolis anyway when we're talking about transportation mobility and the challenges for many americans when it comes to mobility transportation to afford a call. indianapolis is the so called cross roads of america and quite literally because the major highways from the united states are really costing in this city. the last few years have been goods to the us. automobile industry, common and factors have been cranking out new vehicles in greater numbers and at a higher price, the last 70 years. profits are up weight. however, there are some dark shops on the horizon, so consumers and businesses in the world's 2nd largest automobile market. the for

a growing number of americans, the equation has become this. no car, no job, no american dream. the car repair, calls call maintenance car insurance. prices rose to within the last 2 years. why is that? and how is it all connected? for on the find out the buyers of all ages, income groups and also what ever social status, bleeding money, no matter if they buy a new or used things have gotten so on. a fan blakely that cars for everybody. mobility for all has become a struggle or almost entirely unattainable for millions. we're up to 2020 for new york auto shop. stapleton on the us and to national auto show circuit. but before we go inside, let's talk about a few important numbers. in 2023,

there were 292300000 vehicles registered in the us. those vehicles made for 376000000 gallons of gas use per day. that makes us the biggest consumer of gasoline, had a sign of japan and brush on average. americans drive a lot about 41 miles a day to work your shopping or for doctors appointment. that's more than ever before. and when americans go on vacation inside the country, 98 percent of them are doing so like the back of the auto show in new york were meeting with greg morrison automotive journalist and call and see was used. rick is the producer of this is bumper to bumper tv who is a major cold snap across the d test and the value it's new cost. all brands makes and models sprag has agreed to help us better understand a few things about what is going on at the us, automotive industry, with orders those and with us consumers. i did not know that it was still such

a magnet for people because i thought ok, so costs are i know almost like a luxury item. in many cases. yeah. $4050000.00. better for a spot in price. exactly. so is it, is it, when people come you to an honest and like this, is this for them the opportunity to touch the dream or is it like no, i'm in this. yeah, i'm shopping for a car which has to be useful. a economic call. you know, all of that. it has to get good gas months in the doing the research here. is it the touching the candy? it's a little of everything you get chance to touch the candy so to speak. because you see cars, but you know, there's no way in this life. i'm never gonna be able to afford it, but you get a chance to put your button the seats are oh, this is nice. and while you may not buy that totally upscale model, you may be attracted by the brand to go to something that's a little more affordable. affordable. that sounds good. the problem finding a new and affordable vehicle has become nearly impossible in many cases. the same

is true in the market for use sauce. interest rates are astronomical compared to what they were just a few years ago. the average cost of the new car or that's going to substantially in the last say 5 to 10 years, the average cost of a new car was about $38000.00 and those 5 years ago. and now it's up to $45000.00 since 2020 prices for new cost $7.00 everidge increased by a whopping 31 percent increase for used costs even higher and spends at 40 percent is getting very close to the median income of households in the united states that grows in, in car price came and at a time of very, very low interest rates. those used car in new car prices are enormous. and it's

a much different thing if you can get 0 percent financing versus 0. 7 percent financing by $45000.00 cost, almost the median gillian come into us and financing the purchase at 7 percent or even higher at thousands in interest payments to the final bill. the results, a growing number of americans getting to massive depth just to keep up with comp, payments before in many cases, defaulting india. and after all, i read that most americans finance cost is the 2nd largest expense after the mortgage. you have to what they pay for the house. the house, the par college education for the kids goes to 3 big bytes. and if you're financing, you're not financing for 3 years anymore. you're probably financing for 5, sometimes 7 years. that's a lot of time to be putting monthly payments on. but wait, there's more when people are surprised by now are things like insurance. nobody

buys the car thinking about repair maintenance comes, but new cars are becoming more expensive to, to, to fix and insurance is going up. so there's these costs that are sort of surprising people. couple of things are happening with all the technology. insurance costs tend to go up because it costs more to repair a car spinning a collision when you have to readjust your a headlight system, not just the advice system, but your safety systems and so forth. that's more than just putting it on a scale. you have to use a computer tech and getting the parts that drives up the costs of ownership in just one year from 2021 to 2022 insurance costs have gone up by around 14 percent and then the 20 percent by the end of last year, that's a 34 percent combined in just 3 years. the steepest increase since and $0.19 at the same time. the insurance companies report record breaking profits, things to rate increases. and that means

a growing number of so called average joes and people who earn an income that just about lets them get by are getting crushed when it comes to vehicle ownership and guarantee their need for mobility and affordable transportation options. those are the folks who are really going to be squeezed and it's described not having access to mobility without access to mobility. you don't have access to employment without access to employment. you cannot take care of yourself, the public transportation, the public transport authority here in indianapolis. it's called in the go. those guys are trying to really do their best to transport thousands of people who can't afford a car to places that have to be that the work or for shopping. and of course also doctors appointments. just the fact, most importantly to understand is that public transportation always in the united

states. if we're not talking about new york and the software there, or maybe san francisco and the firm system there has to challenge and was always challenged public transportation. and america, that doesn't roll off the tongue as easy as for example, in public transportation, customer numbers in indianapolis, and not only back where they were before the cobit 19 pandemic has been rising late in 2023. 6 round try to ship was more than 6 point. $7000000.00 a 20 percent increase over 2020 to the city is fucking the trend that sees many metropolitan areas in the us struggling with writer numbers and with funding however, even indianapolis is facing challenges with shifts and transportation needs for more and more people who cannot afford a car, but who must respond to changing demands if they want to get or keep the job legacy

coming because they have to be able to make good profits on the combustion engine babies. because as good profits are needed to be able to supply the much design fee cash flow that's demanded by the growth. and they have a hungry electric, very low site for consumers, for potential call buyers for all people who want and need an affordable car to be their choice of transportation. that's bad news. prices for new induced costs will likely remain high or get even worse for the foreseeable future. the same goes for repair maintenance and insurance costs. really affordable nobility so critical for millions in the us, the non standard light. this is the question that i think we saw the unique, the american way and, and by that i mean in

a way which amaica seem to forward. this will be saw by innovation on technology to fact. so imagine that the technology's front of the innovation on the, on the market facing fund and, and at the end of the day, everything else was fine based, fully believe that free markets will be the solution to this. and the fremont, it's a free market solution will come by the end of the month as very good to go more affordable. um they will be a mindful and extremely low cost, highly affordable vehicle and they will be a shake out here. oh and consolidation that have to fall to be able to make that happen until the affordable mobility for all can be achieved only through subsidies . some experts say they think where we are right now is we're sort of in the discovery of diagnosis, pains of these new high cost driving. and we're going to see

the policy responses come out over the next few years. the most direct thing that we could do, and the fastest thing that we could do indeed is simply subsidize people being able to draw a monthly check from the government. so all people to get to work, go shopping and keep the doctors appointments. a quick fix. why not? and in the future say good bye to individual car ownership entirely. all the calls will be electric and self driving, ready to be used to be our government sponsored basic subscription model available anytime anywhere with the click and yes, there will be an f smart vehicles, best and safe, economical, affordable, and accessible to all people made possible by financial subsidies and incentives from the government. sweet dreams. who knows? however, this will shake out. it's going to be a long way to get well any. what do you think

that is knowing the comments and don't forget to subscribe to our channel the. the ross, that's those had some pretty good ideas and some of them can even help improve people's lives today. welcome to eco offered co. i'm chris alarms, joining you from league goes nigeria, what works best is often a combination of traditional wisdom mixed with cutting h innovations with gold both on stays. sure. i m sandra holmes, the tween over you right to come play you going to it is great to.