JD Vance Shocks By Claiming Owning A New Car Costs Every American $50,000 A Year

The Republican senator JD Vance Vance hasn’t been shy about criticizing people, but he opened a new can of worms at a rally in Byron Center, Michigan. Speaking to a crowd in Kent County, he blamed Vice President Kamala Harris for what he described as a shocking increase in the cost of buying a new car.

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“Thanks to Kamala Harris’ spending policies, the average price of a new car is almost $50,000 a year,” Vance said, drawing mixed reactions. The statement quickly became a trending topic, garnering attention on social media.

That didn’t stop many people from taking issue with Vance’s claim, with some wondering how a car could cost $50,000 a year. “What kind of car is Vance talking about? A luxury fleet?” one Twitter user responded, which pretty much sums up the sentiment of many others who struggled to swallow the number.

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Data from the U.S. Department of Transportation offers a different perspective. In 2023, the average annual cost of owning and operating a car was $12,182, assuming the driver drives 15,000 miles per year. That’s much less than what Vance said. Analysts believe Vance may be referring to the average price of new cars, which Statista estimates was $47,010 in 2023 — not the annual cost of owning a car.

The comment sparked a wave of reactions online, with one humorous post noting: “Vance says a new car costs $50,000 a year? Must be nice to live in his reality.”

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Industry analysts have pointed out that car prices have increased sharply following the COVID-19 pandemic. This was mainly due to a global shortage of microchips that led to production problems. The autoworker strikes in 2023 made the situation worse, further limiting the availability of new vehicles.

Despite these challenges, vehicle prices have started to decline. Kelley Blue Book reported that the average price of a new car in July 2023 was $48,401, marking the 10th month of year-over-year declines due to improved inventory levels and higher loan rates. The average interest rate for auto loans in 2023 was 7.2%, its highest level since 2007, according to the Department of Transportation.

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With the auto industry being a major focus in the state, Vance’s remarks were likely intended to resonate with Michigan voters. Michigan is home to 96 of the nation’s 100 largest auto suppliers, so car prices are likely a major concern for its residents.

In response to these comments, Vance’s spokesperson told Newsweek: “The media is failing America…