the, that's all for now. of next our motoring show rad looks at the out. the spiraling cost means america that mean to american falling out of love with cars and pickup trucks and use it for me and the rest of the team here. thanks for watching. the name is nose available in the whole bag. save. wow. thank you so much for joining in. welcome to don't hold the bad. a lot of people do that. it's all about saying it aloud. most would have being nosy bay, like get everyone talking to me. check out the award winning called called, don't call back the new cars. this was one's part of the american dream,

but now it's out of leech from many into us. americans, me because this computers fuse cars quintessential to the american lifestyle. bunch on affordable for music. affording a call, the maintenance of a n d insurance office has become a major challenge obstacle and problem for many, many 1000 americans. why is that? will find out americans and the automobiles and america. this is a lot of fear, the level of fear lasting more than 100 years, especially relations, driven by the idea of unlimited mobility. and with that feed quite let's 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 interesting. 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 in promise for the future of the modern united states of america, he won an automobile because it's 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, that'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 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 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 new vehicles in greater numbers and at a higher price. and that certainly these profits are up way. however, there are some dark shops on the eyes and saw 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 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 have gotten so on a fan blankly that cars for everybody. mobility 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 international 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 consume of gasoline, had a sign of japan and brush on average. americans drive about about 41 miles a day to work 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 back 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 fish is bumper to bumper t b who is a major cold snap across the d test and devalue it's new cost. all brands to 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 our shows and with us consumers. i did not know that it was still such a magnet for people because i thought okay, so costs 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 in to an auto select this, is this for them the opportunity to touch their dream or is it like no, i'm in the, i'm shopping for a car which has to be useful to economic call. you know, all of that. it has to get good gas margins. they do their research here, or is it the touching the candy? it's a little of everything you get chance to touch the candy so to speak. because you see cars, but you know, there's no way in this life. i'm ever gonna be able to forward it, but you get a chance to put your buttons, seats it. 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 this 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 ago. that average cost of the new car or that's going to substantially in the last say 5 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 costs even higher and spends at 40 percent is getting very close to the median income of households in the united states that growth in, in car price came editor,

i'm very, very low interest rates. there's used car in new car. phrases are enormous. and it's a much different thing if you can get 0 percent financing. there's is that are 70 percent financing by $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 of growing number of americans get into massive depth just to keep up with comp, payments before in many cases, defaulting in the end. after all, i read that most americans finance costs is the 2nd largest expense after the mortgage. you have to pay for the house, the house, the par 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 right. there's more

when people are surprised by now are things like insurance. nobody buys the car thinking about repair maintenance comes, but new cars are becoming more expensive to, to, to fix and insurance is going up. so there's 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. 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 then the 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 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 yourself, the public transportation, the public transport authority here in indianapolis. it's 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 appointments. this effect most impact complete to understand is that public transportation always in the united states. if we're not talking about new york and somewhere there or maybe san francisco aren't the premises, 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 corporate 19 pandemic. that's been rising like in 2023. 6 round try to ship was more than 6 point. 7000000. a 20 percent increase over 2020 to the city is fucking 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 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 combustion engine babies. 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 call 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 in the 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 amaica seem to forward, this will be saw by innovation on technology to fact. so imagine that the technology's from an innovation on the, on the market facing front end and, and at the end of the day, everything else would fall in place. fully believe the free markets will be the solution to this. and the fremont gets a few minutes of usually will come by the end of the month as big as becoming more affordable. um they will be in a mindful and extremely low cost, highly affordable vehicle. and there will be a sheet out here. oh and consolidation that i have to call to be able to make that happen until that 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,

pains of these new high cost of driving. and we're going to see the of 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 to 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 calls will be electric and self driving, ready to be used to be our government sponsored basic subscription model available anytime, anywhere with the click and yes, there will be enough smart vehicles as in 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 then as knowing the comments and don't forget to subscribe to our channel, the. the, this is dw news africa coming up on the program under the threat of atrocities and a food shortage, so downs people continue to bad, the brunt of war rights groups. one of ethnic cleansing and genocide in the gospel region. as the arrival of military forces battled civilians remain cut off from the aid they desperately need. also coming up mass demolitions in abigail as the ivory in metropolis and forces of an ice agent as africa's biggest cities expand rapidly . we look at how poor people are affected and spreading health.