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‘Seismic shift’: driving unaffordable for many in US amid push toward SUVs (www.theguardian.com)

submitted 9 months ago by [email protected] to c/[email protected]

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[–] [email protected] 14 points 9 months ago (1 children)

That's a lot of words to say "Cartel". Car...tel... get it?

I'm here all day, folks! 👍

Here’s a hint: the automakers are doing great. By essentially coordinating an industry-wide production cut, the pandemic gave manufacturers power to demand mind-boggling prices for fewer cars, leading to record profits. As consumers adjusted their expectations, executives saw an opportunity to establish a lucrative new normal. Low inventory is an “opportunity to drive strong margins”, GM’s CEO, Mary Barra, told shareholders in 2022. Ford’s CEO, Jim Farley, went even further, declaring: “I want to make it extremely clear to everyone: we are going to run our business with a lower day supply than we have had in the recent past because that’s good for our company.”

Also see: collusion... market manipulation... fauxflation.

[–] [email protected] 4 points 9 months ago (1 children)

Yet another point in the argument for a government corporation that makes basic shit and provides basic services across the board.

[–] [email protected] 2 points 9 months ago

"But muh nationalization socialism! Next thing you know we'll all be in gulags!" - some trailer park right wing rube reading this right now.