Why Are New Cars Getting SO Expensive in 2024? What Can We Do About it?

Do you ever wonder why new cars are getting so expensive in 2024? Not the dealer markups just the MSRPs for cars are so expensive?

In this video we highlight some of the important reasons why things are getting very expensive for new cars in 2024 and what you and I can do about it

TCCN Automotive Inc.
Toyota and Lexus Specialist Repair

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0:00 Intro
0:35 First Reason
1:14 Second Reason
3:37 Third Reason
6:21 What Can We Do About It?

[gilbyglibber]

Long live physical buttons, knobs, and door handles!

[arnoldm]

A big part of the problem are automobile journalists. They drive all the vehicles and compare basic vehicles to 100k vehicles and crap all over the basic cars. They also want everything to drive like an M3 on the ring, so we end up with low profile tires and bumpy rides. To offset this we have expensive air/adaptive suspension that is a fortune to replace.

[johnharvey]

This is not just a problem with cars. NOTHING is affordable anymore.

Who could afford to buy their own home at today’s prices, if they are lucky enough to even have one? Who could replace their current car without making massive monthly payments? Who could afford to get sick? Who could go to college without going deeply into debt? Who is ready for AI to eat their job?

Right, nobody, because this is the USA in 2024. The American Dream? Dream on…

But how did we get here? Nobody wanted this. Did it happen all at once? We gotta think about this.

Back to cars. Some questions for us:

How exactly did the SUV come to replace the automobile, even though it is neither sporty nor utilitarian, heavier, burns more fuel, and needs a backup camera to avoid running over the children?

How did the pickup truck turn into an $80, 000 bloated show pony with a giant grille, bling wheels, and fake chrome?

Why must cars check every single possible box: power windows, doors, locks, steering, brakes, AC, phone, stereo, cup holders, leather, traction control, stability control, fancy LED lighting that blinds oncoming drivers, and an iPad in the middle of the dash to control everything?

We wonder why they have gotten so expensive?

Then consider that vehicle from the future, the Tesla Cybertruck:

Weights 7, 000 pounds, empty. Comes with built-in features you have to pay extra for. That famous giant wiper: doesn’t work. Oops! Recalled. You do not have the right to sell the truck for a year. Didn’t you read the contract? Should have. Self driving, but keep your hands on the wheel. And don’t get on Elon’s wrong side, remember, he’s the boss. But hey, it looks cool driving it around Silicon Valley. Hope it works out better than that DeLorean did. Back to the future!

We Americans are a very practical people, aren’t we?

I am being a little sarcastic here…

Ok, forget cars for a moment. How about a trip to Disney World? Surely Mickey Mouse will treat you like an actual human being? Evidently not. Just have a look at Jenny Nicholson’s now-famous video about her experience at the “Star Wars Hotel” and you will get some insights into how our corporate managers think today. How do you suppose they got their stock prices, and bonuses, so high? You are not a customer to them, you are an ATM. Ka-ching!

Face it, we are now living in a real-life game of Monopoly, where the house always wins. It was years in the making. And it could happen because we weren’t paying attention while it was being built. We as individuals didn’t build this system, but we will have to force it to change. I think we are up to this. That’s my 2 cents. OK, 3 cents, the price just went up!

This is a big topic. Both funny and sad…what shall we do?

[Carl_McMelvin]

Stop buying them. This goes for everything. Want car prices to come back to non ripoff levels? Stop buying. Want professional sports to stop making ludicrous amounts of money? Stop watching them and subscribing to cable and streaming services.

[kaloyancholakov]

People used to complain that toyota is boring, now toyota is not boring anymore but a lot less people are able to afford it

[Quince]

There are so many things that we have to take on new cars that we didn’t ask for and never use. Car manufacturers give us no choice in the matter. Examples: paddle shifters on an suv that has a CVT so the shifts are fake anyway; satellite radio never turned on: transmission modes never touched; giant screens that are most often a black void in the middle of the dashboard: push button start and proximity keys: computerized hvac systems that I end up overriding manually most often: traction nannies that take over because people didn’t learn to drive right etc etc. All expensive, all prone to failure, and I could make the list longer!

[sheltonmcmillian]

If they offered a brand new Camry from 1998 I would buy it today!

[jstarr]

I don’t remember demanding anything…. All these “extras” were used for marketing, and enticing buyers to select cars based on these extras…

[Cylon]

You forgot to tell the most important thing, and that came from the mouth of a Japanese Toyota executive who came to a plant in a South America many years ago and he said: “As long as people pay for our products whatever we want, we’re going to continue charging”.end quotation.

[grichard]

I'm 72 yrs old and never bought a new car because they've always been too expensive.
If everyone just stopped buying overpriced cars, the prices would come down.

[d.o.]

Cars peaked in late 90s-00s and only went downhill from there. Those cars were safe enough, had decent power and all the really needed features, and they were much less complex that those iPads on wheels they are selling today

[davidhertzberg]

My 2011 Corolla was the first car I ever owned that had power windows. Today, it runs like the day I bought it, and with 162K on the odometer, it will be the last.

[JasPlun]

What is really sad Carcarenut? Toyotas mini-truck that starts at 12k and not sold in the US. There are affordable options, but for some reason our Government does not like our people having affordable options. Toyota still makes the Hylux and it starts at 15k, but not sold in the US we are stuck with the Tacoma that runs in the 40-50k and higher ranges.

[jdub]

That's me. Base model Camry. It has ac and a back up camera and that's it. I am happy in my completely un distracted driving experience. No bothers just driving happily and reliable. Thanks for the video. I look forward to the car reviews ever time.

[vkde]

Our emission regulations utterly fail at saving the environment. You notice the engine getting smaller but trucks and SUVs are getting larger.... So they have to be bigger b/c of CAFE standards and more technically advanced too. That's expensive.

[evanrhildreth]

There are other factors too...
1) Automakers have cancelled most small affordable cars. Ford Focus - gone. Dodge Neon - gone. Honda Fit - gone.
2) Low interest rates and 6-7 year financing let people buy cars that cost more than their income. And dealers even let people trade in cars while underwater on their loans, and wrap the deficit into the next loan, so it was possible to never actually pay off a car.

[Fish_is_very_Fishy]

And another problem with new features is that most people don't even use most of the features, it's just adding weight and cost

[drbcrb]

Saw the Indiana state police purchase 500 Durango for police use. So far have 200 in service and of the 200 have 40 with blown up engines. What quality.

[Andy-nnhs]

Stealerships are also price gouging MSRP's with tacky add-ons. Greed is a major factor that was not mentioned.
Paint Protection - 2k ✅
Windows Tint - 1.5k✅
Performance Package - 15k✅

[MrHitchikerOz]

We didn't demand all of those extras - the marketing gurus decided we wanted them. These super vehicles came with another cost - how long has it been since you could rate one of these as a super reliable vehicle?