2026-04-26 12:43 UTC
Replies (2)
-
@SaveTheTuaHawk@lemmy.ca 2026-04-26 15:54
> A new car now costs tenfold what a new car would cost a few decades ago Average car price 20 years ago in Canada, $32,700. That $52,000 corrected to inflation. Average price of new car in Canada 2026 is $63000, but average is a stupid measure, the median is much lower. I can't find the actual median price but it is estimated by one site at $45K. The big difference between today and a few decades ago is people leasing cars they cannot afford, which drives up prices.
-
@JordanZ@lemmy.world 2026-04-26 14:56
Not entirely disagreeing with you. The way you worded it was always going to be the case if all you do is compare window sticker prices from across the decades though. Inflation cuts your money in half roughly every 20 years. A 20K car in 2006 is a ~40k car today even if everything else stayed equal. The average price for cars _after_ inflation is going up though. The US’s trend towards SUVs and trucks is certainly pulling prices up but other things do as well like the government mandated features(small relatively but not nothing). Some examples(these are when they became mandatory, not available) * front airbags - 1998 * tire pressure monitoring (tpms) - 2007 * ABS - 2011 * stability control - 2012 * backup cameras - 2018