~Basil

https://www.ericpetersautos.com/2023/08/16/were-almost-there-already-anyhow/

Eric Peters
We’re Almost There Already Anyhow
You have probably heard the mantra of the World Economic Forum (it sounds as if we’re all part of it, doesn’t it?) about how in the near future, you will own nothing and they will be very happy. ...

...There ought to be a variety of new cars on the market priced around $10,000 or even less. Or – rather – there’s no good reason there ought not to be. ...

...Is this generation more able to buy luxury cars? Are people richer – or poorer – today than they were in 1976, say. When it was possible to buy a new economy car for around $2,500? That was the base price of a new Chevy Chevette that year. It did not come standard with any kind of air conditioning, or power windows and locks, etc. But it was an economy car – and for that reason, it could be owned by almost anyone over the course of three years, which was the duration of the typical new car loan back then.
An economy car like the ’76 Chevette could be probably be made – today – for considerably less than $2,500 (about $13k in today’s devalued currency) because of reduced manufacturing costs and so on. But would people today want to buy a new car like the ’76 Chevette – even if they could for $10k or less, today? ......