Why have new cars become so ridiculously expensive?

Name: Elaine G.
Email: e*********4@gmail.com
Date: March 5th, 2024 10:13 PM
Message: Dave I have not bought your book but I've enjoyed reading these posts. Just a quick question. Why have cars, all of them become so ridiculously expensive? I don't want to show my age but I remember when $30K was a premium price for full sized SUVs and Trucks. Now it's not uncommon to see them for $100K! That's way more than normal inflation.

Elaine, thanks for the email! Hopefully you become a customer sooner than later!

The reason why SUVs and trucks have gotten so outrageously expensive lately is because they're packing more luxury and tech than ever before. People want all the bells and whistles, so automakers are loading up these vehicles with premium features, which of course jacks up the prices. Plus, everyone seems to be crazy about SUVs and trucks these days, causing a shortage in supply and making them even pricier.

SUVs and trucks have become like Swiss Army knives on wheels, serving multiple purposes from family haulers to adventure rigs. With all these different uses come a ton of trim levels and options, making them more complex to build and pushing up costs. And let's not forget, these bad boys need more materials to put together compared to your average sedan, not to mention the fancy tech and comfy interiors that add to the price tag.

Take a look at those top-of-the-line SUVs like the Range Rover or the Cadillac Escalade - they're basically luxury hotels on wheels with all the latest gadgets. Sure, they come with a hefty price tag, but for many folks, the comfort, style, and status they bring are totally worth it. You'd be surprised what people will pay and how much in debt they'll put themselves just to look good riding around town and get the satisfaction of telling people they drive an Escalade or Rover.

So yeah, SUVs and trucks are getting pricier because they're becoming more like rolling penthouses with all the fancy stuff we love. It's a mix of demand, features, materials, and that desire for a little extra luxury that's driving up those sticker prices.

Let me know if this helps and thanks again for the email 😀
Dave Roppolo