A basic van will cost you $48,287, and a luxury full-size SUV will set you back $124,250, according to Kelley Blue Book.
Want to know why the price of a new car and insuring it have become so expensive? There are a couple of factors at play.
Recalls on Kia, Hyundai and other brands are critical as governments, both local and county, are suing car manufacturers.
But the money does not go to the residents that are affected. It's actually a money grab: The money goes to the general funds of the government. They have their excuses as to why, but I tell you the truth behind the lawsuits, the National Highway Transportation Safety Administration and the impact of these lawsuits.
We also cannot overemphasize the importance of the United Auto Workers strike, job and electric cars, on their impact on rising car prices and insurance, too.
The UAW now has over 30,000 workers on strike in 22 States. Their demands are fixed and the UAW demands of the Big Three (Ford, GM and Stellantis) include:
* 40% raise in wages over four years
* Reinstate cost of living adjustments (benefit lost in 2009)
* End tiered wage and benefit scale
* 32-hour workweek
However, electric vehicles are a huge part of the strike issues. Workers are struggling and want to get this resolved quickly. Instead, the UAW announced more layoffs at a Ford plant. This was a surprise strike of 9,000 workers at the Kentucky Truck Plant.
UAW President Shawn Fain called for a targeted strike of an estimated 9,000 workers late Wednesday with no warning at the Kentucky Truck Plant in Louisville. The Kentucky Truck Plant builds the Ford Super Duty, Ford Expedition and Lincoln Navigator. The Ford Super Duty is among the most profitable products the Dearborn automaker sells.
This strike is far from over and the impact to drivers trying to get parts or a new vehicle is only starting.
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Lauren Fix, The Car Coach is a nationally recognized automotive expert, media guest, journalist, author, keynote speaker and television host. A trusted car expert, Lauren provides an insider’s perspective on a wide range of automotive topics and safety issues for both the auto industry and consumers. Her analysis is honest and straightforward.
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