me as or from us for now coming up next of a motoring show. risk looking at how spiraling cost to me in america's pulling out of love with its cost and pickup trucks. monica jones, thanks so much. the name is the calls back. saved loud. thank you so much for joining in. welcome to don't hold a bad. a lot of people do that. it's all about saying it aloud. that's what it being nosy bay, like good. everyone to kings. check out the award winning called called the new cars. this was one part of the american dream, but now it's out of reach for many americans. me because this con,

previous huge cars quintessential to the american lifestyle such on the affordable formula. affording a call, the maintenance of a n. d. insurance over count has become a major challenge obstacle and problem for many, many 1000 americans. why is that? will find out the americans of the automobiles and america. this is a love of the love affair lasting more than 100 years, especially relations, driven by the idea of unlimited mobility. and with that freedom quite let's talk about what cars are to americans. the land of the free and home, most of the braves unified in its appetite 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 into 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, especially 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 ownership. 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 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 vehicles in greater numbers and at a higher price, less certainly these profits are late. however, there are some dark shops on the horizon. some consumers and businesses in the world's 2nd largest automobile market for

a growing number of americans. the equation has become this. no car, no job, no american dream, the car repair costs. com 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 blankly that cars for everybody will bill it, the, for all, has become a struggle or almost entirely unattainable for millions. we're up to 2020 for new york auto show, staples 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 the us the biggest consumer of gasoline had a sign of japan. and rush on average. americans drive a lot about 41 miles a day to work to shopping or for a doctor's 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 heck of the auto show in the yard 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 auto show

us and with us consumers. i did not know that it was still such a magnet for people because i thought ok, so cars 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 auto select 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 a 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 to sit and say, oh, this is nice. and while you may not by that total of scale 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 65 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 average increased by a whopping 31 percent increase for used cars even higher and stands at 40 percent is getting very close to the median income of households in the united states that grows in, in car price, came at a time and very, very low interest rates. those used car in new car prices are enormous and is

a much different thing if you can get 0 percent financing versus that are 70 percent financing. by $45000.00 cost. almost the medians yearly income into us, and financing the purchase at 7 percent, or even higher as thousands in interest payments to the final bill. the results of 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 pay for the house, the house, the car college education for the kids. those are the 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. 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 costs, 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 another 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 crunch, 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 that sam, the public transportation, the public transport authority here in indianapolis 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 they have to be that the work or for shopping. and of course, also doctors appointment this effect most ultimately to understand is that public

transportation always in the united states. if we're not talking about new york and there's some point there, or maybe san francisco and the prem system, there has the 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 batch where they were before the culprit 19 pandemic has been rising late in 2023, 6 round try to ship was more than $6700000.00, a 20 percent increase over 2020 to the city is fucking the trend that sees many metropolitan areas in the us struggling with rider 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 internal combustion engine paypals 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 car 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 into us the non standard flight. this is the question that i think we saw the unique, the american way and, and the way that, i mean in

a way which i make, i seem to forward this will be saw by innovation on technology to fact. so i mentioned the technologies from an innovation on the, on the market facing fund and, and, and at the end of the day, everything us with funding based totally believe the free markets will be the solution to this. and the fremont gets a few minutes of usually we'll come by the end of the month as vague was becoming more affordable. um they will be at the mines for an extremely low cost, highly affordable vehicle. and there will be a shame out here with 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 speeds 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 would be to simply subsidize people being able to draw a monthly check from the government. so all people can get to work, go shopping and keep their 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 a 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 countries drive on the left side i'd say well let's find those. c the base is the all new audi, each on g t prototype, a call that is set to come.