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by toomuchtodo 852 days ago
The average price of a new car in the US is ~$48k. This car competes against new cars, not old, used cars.

https://www.consumerreports.org/cars/buying-a-car/people-spe...

I don’t know anyone who would hesitate at $15k considering current state of the auto market. I do know there’s lots of middle class and below who would finance it and give it a chance, versus a $500-$1000 monthly note at current vehicle prices and interest rates.

https://www.cbsnews.com/news/auto-loan-average-payments-2023...

5 comments

Average price of a vehicle is not a good metric for this. If a bunch of Americans finance $150k trucks (and they do!), that inflates the average, but it's not relevant.

What's relevant is the lowest price for the economy/compact model of a mainstream brand, which seem to be around $20k. For a $5k difference (or less) I don't know if gambling on a new Chinese electric car would be that attractive.

that is a very strange claim to try and make. this car competes against anything that can move a body. how well it competes is yet to be seen.
Those high prices were in a period of both low interest rates and, during the pandemic, limited supply pushed to the most expensive models. I will be surprised if they stay that high under current interest rates and economic concerns.
I have my doubts about that being the average car price. Is that considering all consumer vehicles (SUVs, trucks)?

Baseline Toyota/Honda is still going to be ~$25k

https://www.caranddriver.com/news/g39628015/best-selling-car...

For a while, trucks and SUVs hold a significant portion of most sold vehicles in the US.

Do you have the same stat for median, instead of average?