Would-be owners are turning up their noses at the American dream of two cars in every garage. New vehicle sales, which peaked in 2016 at 17.5 million units, were in a steep downward trend through 2022, and even with a slight rebound for 2023 and 2024, the auto market hasn't achieved the volume of the early part of the previous decade. What's to blame for this shift in consumer priorities? The Wall Street Journal reports that it's an alarming boom in the cost of vehicle ownership. From the cheapish Nissan Versa to the mighty Mercedes-Maybach GLS-Class, having your own car is more expensive than ever.
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