Cars are quintessential to the american lifestyle bunch on affordable for millions, affording a call, the maintenance of a n. D insurance overcome has become a major challenge obstacle and problem for many, many 1000 americans. Why is that . Well find out the americans and the automobiles and america. This has a lot of fear. The love to see it lasting more than 100 years, especially relationship driven by the idea of unlimited mobility. And with that feed, quite, lets talk about what cars are to americans. The land of the free and holding into the race unified in its appetite for more cost, populating an effort, expending highway and interstate system. We constitute the greatest country in the world. Right in resources and innovation about people great an accomplishment in the past. And equally great in problem is for the future of the modern United States of america. He won an automobile because its the easiest way to explore this great country. This country and its economy built upon the idea of on time 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, thats 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 racing capital of the world. The whole part of the american dna, motor sports and honor shop. So you might ask, why are we in indianapolis anyway when were 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 good to the us. Automobile industry, common factors have been cranking out vehicles in greater numbers and at a higher price on that certainly these profits are up way. However, there are some dark shops on the horizon, some consumers and businesses in the worlds 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 costs. Com maintenance Car Insurance prices rose to the house 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 of what ever social status, bleeding money, no matter if they buy a new or used things ive got and so on. A fan blankly that cars for everybody ability for all has become a struggle or almost entirely unattainable for millions. Were up to 2020 for new york auto, sho, staples on the us and to National Auto show circuit. But before we go inside, lets 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 consume of gasoline, had a sign of japan and russian on average. Americans drive about about 41 miles a day to work shopping or for a doctors appointment. Thats 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 susies rick is the producer of this is bumper to bumper tv who was a major cold snap across the d test and the value its new cost all brands to makes and models. Frank has agreed to help us better understand a few things about what is going on at the us. Automotive industry with orders close 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. Start up for a spot in price. Exactly. So is it, is it when people come here to an auto select this, is this for them the opportunity to touch their dream or is it like . No, im in this, im shopping for a car which has to be useful. A economic call. You know, all of that. It has to get good gas months and they doing their research here. Is it the touching the candy . Its a little of everything. You get a chance to touch the candy so to speak, because you see cars, but you know, theres no way in this life. Im ever going be able to afford it. But you get a chance to put you 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 thats 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 when in the market for use sauce, Interest Rates are astronomical compared to what they were just a few years. Then its average cost of the new car or thats going to substantially in the last 5 to 10 years. The average cost of a new car was about 38000. 00 and those 5 years ago and now is up to 45000. 00 since 2020 prices for new cost. 7 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 growth in, in car price came at a time and very, very low Interest Rates. Those used car in new car prices are enormous. And its a much different thing if you can get 0 percent financing versus that or 70 percent financing. Buying 45000. 00 cost, almost the median yearly income 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 in the end, after all, iris and most americans finance costs 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 youre financing, youre not financing for 3 years anymore. Youre probably financing for 5, sometimes 7 years. Thats a lot of time time to be putting Monthly Payments on. But wait, theres more and 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 theres these cars 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. Thats more than just putting it on a scale. You have to use a Computer Tech and getting the parts that drives up the cost 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, thats 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 were really going to be squeezed and its described not having access to mobility without access to mobility. You dont have access to employment without access to employment. You cannot take care of yourself, the big Public Transportation, the Public Transport Authority here in indianapolis. Its called in the go. Those guys are trying to really do their best to transport thousands of people who cant afford a car to places they have to be that the work or for shopping. And of course also doctors appointments. Just most importantly to understand is that Public Transportation always in the United States. If were not talking about new york and the software there, or maybe San Francisco arent the premises. There has the challenge and was always challenged. Public transportation. And america that doesnt roll off the tongue as easy as for example, in Public Transportation, customer numbers in indianapolis. Not only back where they were before the cold, with 19 pandemic has been rising late in 2023 6th round. Try to ship was more than 6700000 a 20 percent increase over 2020 to the city is bucking 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 the car, but who must respond to changing demands if they want to get or keep the jump legacy coming because they have to be able to make good profits on the internal combustion engine, babies, because as good profits are needed to be able to supply the much design fee, cash flow thats demanded by the growth is ever hungry directory. Very low site for consumers, for potential call buyers for all people who want need an affordable car to be their choice of transportation. Thats bad news. Prices for new induced cost will likely remain high or get even worse for the foreseeable future. The same goes for repair maintenance and insurance costs really affordable mobility so critical for millions in the us, the non stop light. 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 amaica seem to for this will be saw by innovation and technology a to fact. So as i mentioned, the technologys further innovation on the, on the market facing fund and, and, and at the end of the day, Everything Else with the funding base following believe the free markets will be the solution to this. And the fremont. Its a free Market Solution will come by the end of the month as the more affordable um they will be at the mindful, extremely low cost, highly affordable vehicle and they will be a shane. Oh here. Oh and consolidation that i have to call to be able to make that happen until that affordable mobility for oh, can be achieved only through subsidies. Some experts say they think where we are right now is were sort of in the discovery of diagnosis, pains of these new i cause driving and were 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 can 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 costs 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 enough 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. Its going to be a long way to get well any. What do you think that theres no other comments and dont forget to subscribe to our channel the. The did you know theres a can civic seen . Its true guessing the human petaluma virus or h p dfcs seen before having sex for the 1st time can reduce the risk of cervical prose for p know, kansas, that there are no vaccines for the more than 300 other types of cancer. Can we still protect ourselves from is not always what we can control. Some of the risk factors stay tuned to find out which ones are in good shape the