Who can afford a car any more?
3:50

Who can afford a car any more?

Roadshow
[MUSIC] Hey folks, it's Cooley, and I've got my Top 5 Car Trend lines and the stories that I'm watching for the year ahead. Let's go. Number 5 is a little unsexy, but it's a real big deal to all of us, vehicle affordability. The average new car in the US in 2019 was pushing $38,000 That's a lot of money. It was masked by the increasing popularity of leases, and these ultra long car loans. But at some point we're all gonna say, enough I don't know what the answer is, but I sure hope it's not more and longer card debt. Number four is vieta x adopting five G. This is kind of wonky stuff but after a multi year standards battle it looks as though cars will talk to the world Using 5G as opposed to a competing variant of Wi-Fi. This battle has been going on too long, let's get to it. The FCC commissioner as of late 2019 says, yeah, 5G is the way we wanna see this going the auto industry and it looks as though the industry itself and wireless tech companies are ready to follow that path. This is good because it will open the door to getting the two x communications going which I think are overdue and could bear incredible fruit but it's not going to happen overnight. [MUSIC] Number three is the Tesla Model Y. Now for all the mixed bag of up and down success Tesla has had and it's been a roller coaster. Everything they've accomplished has been done with one hand tied behind the companies back because they haven't had a compact crossover, the car America loves the most. The Model X doesn't count, it's too big, too expensive, and frankly, too unloved. When this guy arrives though, now said to firmly be in 2020 Tesla will for the first time be playing in the main arena of American auto sales. [SOUND] [MUSIC] Number two is the changing landscape of the electric car incentive. It ain't sexy, but it's really important. Think about this, as of 2020 Tesla cars no longer qualify for an IRS Federal tax credit, GM cars will be next. in California. We've really whittled down the rebate scenario. You get paid less when you buy an electric car. If it costs over 60 grand you get paid nothing and if you buy a plug in hybrid that does less than 35 miles on a charge You also get zeroed out. Things are tightening up and shifting. It'll be fascinating to watch what happens now as we start to put some cars on the market that are electrically powered and don't have props holding them up. And I also wanna see how they compete against other cars in the same category that do still financial props simply because of some timing of a [MUSIC] But the top story around automotive technology and 2020 is going to be EVPalooza. This is the watershed year for getting more and more plugin cars on the market so many that every category of car will now have credible electric entrance in it. This is a new moment in history. Porsche tie con. Plugin versions of BMW threes, Ford's Mach-E, the Jeep Wrangler gets a plug in, Mercedes EQ line has a whole new venture for them, The Polestar 2, or VWs iv4. As these cars arrive, we can see that every consumer looking to buy a car, should have at least one electrified version to consider, no matter what kind of car they want. That's a new moment. Now, that said, none of this brings us to the point where EVs can claim they're at a tipping point. That's still years There's a way, and frankly, still debatable. But we're getting to the point now where every consumer can chime in and make a decision, and that feedback is going to be really interesting this year. [BLANK_AUDIO]

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