Congratulations Detroit auto industry! Once again, you’ve managed to make total fools of yourselves with the boorishness and ludicrousness of your North American International Auto Show fetish.
Lincoln managed to buy its way to having the ugly, bulbous, pathetically-aggressive Lincoln Navigator named the North American Truck of the Year. All over the tube and the news, media bobbleheads and car execs are tripping all over themselves to delight in the glorious news this morning. Not one media talking head has questioned the inanity of selecting a truck-of-the-year with a base price of $72,000, which is far more than the *median household income* in America across all jobs.
Short memories regarding the 2008 economic meltdown and auto bubble fallout persevere once again. The upper middle class can’t afford these cars, and the upper/luxury class will not be buying this American-made SUV. This vehicle is designed for and targeted at middle class demographics. This vehicle appeals to the broad class of middle-to-upper middle class debtors living beyond their means who cannot financially bear the cost of the vehicle without incurring significant debt. As gas prices continue to ramp up (almost $3/gallon here in Michigan), the debtor class will continue to put their gas expenses on their personal credit cards, along with their meals out, household expenses, vacations/trips, and all the other nice stuff for which they can’t financially bear the cost on a cash basis.
9:48 am on January 15, 2018 Email Karen De Coster