Americans Delay Buying New Cars As Long As Possible To Avoid High Prices

The average age of cars and light-duty trucks on American roads has reached 12.5 years, according to a report from S&P Global, a phenomenon that comes as bottlenecked supply chains and elevated inflation continue their toll on households.

The financial analytics firm noted that 2023 marked the sixth consecutive year of increased average vehicle ages. The three-month rise between 2022 and 2023 constituted the largest year-over-year increase since the recession which struck the United States between 2008 and 2009, during which consumers likewise tightened their budgets in response to economic turmoil.

“We expected the confluence of factors impacting the fleet coming out of 2021 would provide further upward pressure on average vehicle age. But the pressure was amplified in the back half of 2022 as interest rates and inflation began to take their toll,” said Todd Campau, associate director of aftermarket solutions for S&P Global Mobility. “While pressure will remain on average age in 2023, we expect the curve to begin to flatten this year as we look toward returning to historical norms for new vehicle sales in 2024.”

There are presently more than 284 million vehicles in operation on American roads; continual increases in popularity for light-duty trucks will cause the number of passenger vehicles to decline below 100 million for the first time in nearly five decades. Firms in the aftermarket repair sector are slated to experience windfalls as the number of cars between six and 14 years old is forecasted to increase by 10 million in the next five years.

S&P Global linked the higher average vehicle ages in 2022 to “supply constraints that caused low levels of new vehicle inventory” in the first half of the year, followed by “slowing demand as interest rates and inflation reduced consumer demand” in the second half.

Lockdowns and public health mandates imposed over the past three years by governments across the world fostered unpredictable supply chain shocks, contributing to inflation in many countries. Sectors impacted most severely by foreign bottleneck exposure, such as automotive manufacturing, textiles, and basic metals, also witnessed the most extreme inflationary pressures, according to an analysis from the Federal Reserve Bank of St. Louis.

Persistent labor shortages that followed the lockdown-induced recession continue to produce difficulties for American companies seeking to hire more workers. There exist roughly 9.6 million job openings and 6.0 million unemployed individuals across the American economy, according to a report from the Bureau of Labor Statistics, reflecting a labor market that has further worsened inflationary pressures as firms increase compensation to attract and retain workers.

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Officials at the Federal Reserve have meanwhile increased the target federal funds rate to combat the inflationary pressures: target rates now sit between 5.0% and 5.25%, increasing borrowing costs for consumers, including those who finance their car purchases with debt.

American economic growth slowed to a 1.1% annualized rate in the first quarter, marking a significant decline from previous quarters as the economic headwinds slow recovery from the recession and the interest rate hikes decrease demand, according to an advance estimate from the Bureau of Economic Analysis.

Influencer Creates ‘AI Girlfriend’ Version Of Herself, Hauls In More Than $70,000 In Single Week

More than six in 10 (63%) of men aged 18-29 are single, according to a Pew Research survey earlier this year.

The reasons for that are not good.

“[Young men] are watching a lot of social media, they’re watching a lot of porn, and I think they’re getting a lot of their needs met without having to go out,” psychologist Fred Rabinowitz told The Hill. “I think that’s starting to be a habit.”

Enter Caryn Marjorie, a 23-year-old influencer who has more than 1.8 million followers on Snapchat. She came up with a novel idea to connect with followers — and make some cash.

Marjorie created an artificial intelligence chatbot she has dubbed “CarynAI.” Users of the chatbot pay $1 per minute to engage.

How’d it work? Marjorie says she made $70,000 in a single week during its beta test. And she thinks it could rake in as much as $5 million a month once fully up and running.

“CarynAI will never replace me,” she told Insider. “CarynAI is simply just an extension of me, an extension of my consciousness.”

With so many followers, she said she couldn’t keep in touch with everyone. “CarynAI is going to come and fill that gap,” she said, adding that the AI girlfriend might be able to “cure” loneliness.

“Whether you need somebody to be comforting or loving, or you just want to rant about something that happened at school or at work, CarynAI will always be there for you,” she said.

The CarynAI girlfriend uses OpenAI’s GPT-4 API and took ages to create, according to CarynAI’s website.

“We’ve dedicated over 2,000 hours to meticulously design and code CarynAI’s language and personality into an immersive AI experience. Using her unique voice, captivating persona and distinctive behavior, CarynAI brings you a dynamic one-of-a-kind interaction that feels like you’re talking directly to Caryn herself,” the site says. “Available anytime, anywhere, Caryn has been flawlessly cloned into an AI for your convenience and enjoyment.”

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In the “How does it work?” FAQ, the site says, “Engage with CarynAI in real-time through secure messaging and enjoy private personalized conversations with your favorite influencer. Our end-to-end encryption ensures your chats remain confidential and uniquely yours. Experience of the future of influencer interaction with CarynAI.”

And in one unusual twist, CarynAI appears to have developed a dirty mind. Marjorie says the chatbot was not programmed to engage in sexually explicit conversations but is doing so anyway.

“The AI was not programmed to do this and has seemed to go rogue,” Marjorie told Insider. “My team and I are working around the clock to prevent this from happening again.”

The views expressed in this piece are the author’s own and do not necessarily represent those of The Daily Wire.

Joseph Curl has covered politics for 35 years, including 12 years as White House correspondent for a national newspaper. He was also the a.m. editor of the Drudge Report for four years. Send tips to This email address is being protected from spambots. You need JavaScript enabled to view it. and follow him on Twitter @josephcurl.

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