Opinion: Why Americans are bummed out about the economy | CNN
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Because grocery bills and rent prices are unlikely to return to where they were just a few short years ago, the psychological scars from the war on inflation will linger, write Dana M. Peterson and Erik Lundh.

US consumers remain unimpressed with this progress, however, because they remember what they were paying for things pre-pandemic. Used car prices are 34% higher, food prices are 26% higher and rent prices are 22% higher than in January 2020, according to our calculations using PCE data.

While these are some of the more extreme examples of recent price increases, the average basket of goods and services that most Americans buy in any given month is 17% more expensive than four years ago.

  • theyoyomaster@lemmy.world
    7·
    8 months ago

    And dealers have done the same math. Inventory is based on the highest spec they think they can force onto someone coming in for a mid tier vehicle. You want an F-150 with a regular or super cab? Too bad, that $40k truck simply doesn’t exist. Your options are a $65k SuperCrew® on the PLATINUM, which is marked up another $15k because there’s only one and 4 other people want it more than the $83k Limited, (also with a SUPERCREW cab). Meanwhile 2004 Rangers with 200k miles are solid gold on marketplace because you literally can’t buy them anymore.

    Everyone will say “they make what sells” but that’s bullshit. They spend millions to market and convince people they need the largest vehicle they can get away with producing. “Oh, you’re having your first kid? If you don’t have 14” of ground clearance and a 3rd row you won’t be able to survive.” A 2009 Jetta is just fine for a small family. If you need cargo space, they make a wagon. Just make fucking cars again.

    • Cryophilia@lemmy.world
      11·
      8 months ago

      Everyone will say “they make what sells” but that’s bullshit. They spend millions to market and convince people they need the largest vehicle they can get away with producing.

      I guess it could be rephrased to “they make what they can sell”.

    • tal@lemmy.todayEnglish
      11·
      8 months ago

      Too bad, that $40k truck simply doesn’t exist. Your options are a $65k

      Light trucks in the US are subject to a 25% import tariff. That drives up their sticker price relative to other vehicles.

      https://en.wikipedia.org/wiki/Chicken_tax

      The Chicken Tax is a 25 percent tariff on light trucks (and originally on potato starch, dextrin, and brandy) imposed in 1964 by the United States under President Lyndon B. Johnson in response to tariffs placed by France and West Germany on importation of U.S. chicken.[1] The period from 1961 to 1964[2] of tensions and negotiations surrounding the issue was known as the “Chicken War”, taking place at the height of Cold War politics.[3]

      But I don’t get this:

      Meanwhile 2004 Rangers with 200k miles are solid gold on marketplace because you literally can’t buy them anymore.

      It’s not something that I’ve followed, but according to WP, it looks like Ford restarted production of the Ranger in 2019.

      https://en.wikipedia.org/wiki/Ford_Ranger_(Americas)

      That’s apparently as a larger vehicle than it had been, albeit smaller than the F-150, but they also apparently started making a small pickup, the Maverick, as of 2022:

      https://en.wikipedia.org/wiki/Ford_Maverick_(2022)

      If that meets what you’re looking for and you haven’t looked at the market in the last five years since those two vehicles came onto the market, Ford might be doing what you’re wanting them to do.

      • Cort@lemmy.world
        4·
        8 months ago

        Fwiw, the new ranger is basically the same size as the old f150. The maverick would be closer in size to the 04 ranger, but they don’t make anything other than crew cab for those.

      • theyoyomaster@lemmy.world
        2·
        8 months ago

        Small imported trucks are subject to the chicken tax, they could still be produced domestically without the penalty. Unfortunately manufacturers refuse to make them. The new Maverick is virtually the exact same size as the F-150 was when they discontinued the Ranger the last time around and the new Ranger is even bigger. Everything has grown immensely in size and price.