Biden Effect: New Car Prices Up 19% Since Biden Took Office
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The Biden administration has been a disaster.
The price of new cars has risen 19.4% between March 2021 to March 2023.
President Joe Biden describes himself as a “car guy” but thanks to Bidenflation cars are increasingly unaffordable for many Americans.
The consumer price index for new vehicles increased by more than 19.4 percent from March 2021 through March 2023, data from the Department of Labor show.
It is up 30% since March 2020.
The Washington Free Beacon reported:
The average price of a new car continues to soar under President Joe Biden, who voters think is handling the economy worse than his predecessor.
A new car now costs $48,008, up 30 percent from March 2020. Manufacturers are also selling fewer new cars than before the pandemic, with the more expensive models taking priority.
Record high car prices could be playing a part in Americans’ dissatisfaction with Biden’s handling of the economy. A new ABC/Washington Post poll found the majority of voters, in a split of 54 percent to 36 percent, think former president Donald Trump did a better job with the economy.
No wonder Biden’s approval rating is so low.
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