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China car giant BYD says it can thrive without US (www.bbc.co.uk)

submitted 1 day ago by Deep@mander.xyz to c/technology@lemmy.world

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The recent surge in fuel prices due to the war in Iran has spurred demand for electric vehicles around the world, and Chinese car makers are making the most of the opportunity.

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[–] SaveTheTuaHawk@lemmy.ca 1 points 4 hours ago

A new car now costs tenfold what a new car would cost a few decades ago

Average car price 20 years ago in Canada, $32,700. That $52,000 corrected to inflation.

Average price of new car in Canada 2026 is $63000, but average is a stupid measure, the median is much lower.

I can't find the actual median price but it is estimated by one site at $45K.

The big difference between today and a few decades ago is people leasing cars they cannot afford, which drives up prices.