Sticker shock raises eyebrows, socks budgets and cuts some buyers out – By Susan Tompor (Detroit Free Press) / March 4, 2022
Sticker shock triggered pointed comments in President Joe Biden’s State of the Union address Tuesday when the president took a tiny jab at carmakers by saying “one-third of all the inflation is because of automobile sales.”
“There weren’t enough semiconductors to make all the cars that people wanted to buy,” Biden said.
“And guess what? Prices of automobiles went way up, especially used vehicles as well.”
Biden then suggested that what’s needed is to lower costs, not wages, and make more cars and semiconductors in America.
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