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Add in the cost of the recently passed USMCA which requires 75% of the components to be made in North America, and the increasing addition of safety and electronic features as standard, the cost of cars will continue to rapidly rise.
More than you can imagine….
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“New Safety Gizmos Are Making Car Insurance More Expensive ~ The high cost of repairing sensor-packed vehicles outpaces the savings from fewer crashes.”
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American car insurance rates are going up up up. In the past decade, they climbed 29.6 percent, to an average of $1,548 in 2019 from $1,194 in 2011. The surge, detailed in a new report from insurance shopping site The Zebra, outpaced both inflation (by far) and the increase in average car prices (more narrowly). And it came even as the rate of crashes has fallen year over year.
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Here’s the full article:
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https://www.wired.com/story/safety-gizmos-making-car-insurance-more-expensive/
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