We need new cars that are affordable for the working class. Reliable cars that a family does not need to worry about constantly causing a financial burden would 
percent a weight off their shoulders.
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Personally, Iâd really like to see major regulation rollback to accommodate this.
Even if the existing car manufacturers didnât see the value in producing basic cars without a bundle of unnecessary bells and whistles as âstandard featuresâ, it would at least swing the door wide open to new entrepreneurs to manufacture their own inexpensive basic car options.
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I agree with the other guy, that massively deregulating car companies would help, while minimizing nasty government side-effects.
I would be interested in some enforced standards, though.
Imagine if the dimensions and interfaces of expensive systems (like engines, or the battery pack on electric cars) were standardized such that there were only a handful of families, with broad compatibility within a family. The junkyard parts and commodity aftermarket part markets would explode.
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A lot of people had their cars repossessed during covid and canât get into a vehicle because the APR rates are at 24% causing hefty down payments because it went on their credit report. In inflation, people just canât afford these large down payments. This is probably why a lot of people left the job market, because they no longer had transportation to drive the distance to work. The Government need a federal programs that offers vehicle financing and second chance financing with little to no down payment for military, veterans, disabled people, and people making below a certain income.
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Correct, Iâm not advocating for just throwing out the book entirely; though there is something to be said for if there are certain standards that are in place anyway - such as batteries and wheel sizes - then it can be expected that most companies are going to follow those standards regardless unless they can provide something far superior thatâs actually worth developing a standard all their own.
Otherwise theyâre going to hurt themselves because itâs going to cost them to try to go against a reasonable grain.
The last thing we need is government sponsored, backed, or originated auto loans. This will just spawn a new bureaucracy.
Trump has suggested allowing some portion of auto loan debt to be deductible. No formal legislation has been proposed so far.
Iâd much rather have auto loan deductibility than government loans.