Article

2024-03-22 Economy

Carney on ‘Kudlow': Electric Vehicles Are Pushing Up Auto Insurance Prices

[Breitbart] The Biden administration’s push for electric vehicles (EVs) is exacerbating the country’s inflationary woes by driving up the price of auto insurance, Breitbart Economics Editor John Carney said in a Thursday interview with Fox Business host Larry Kudlow.

Kudlow noted that the Biden administration’s new environmental rule aimed at eliminating gas-powered vehicles is "inflationary" in practice.

"You wipe out gas-powered cars and stick EVs in, that is inflationary. You get nothing but higher prices for everything across the board," he said.

Carney agreed and highlighted the inflationary pressures EVs are already having on auto insurance.

"A lot of people have been noticing that auto insurance is way up," he said. "The more you get [of EVs], the higher auto insurance comes out because EVs are very expensive to repair once you get in a wreck."

"So, you’re going to see that auto insurance number keep climbing," he continued. "I’m told by people in auto insurance that that’s been one of the drivers of why auto insurance inflation is so high because it’s so much more expensive to repair a car today than it was 10 years ago."

Posted by Besoeker 2024-03-22 01:13|| || Front Page|| [11143 views ] Top

#1 Proof that wind and solar are disasters, and the energy America really needs

Posted by Skidmark 2024-03-22 07:38|| 2024-03-22 07:38|| Front Page Top

#2 Not really until yesterday, now the insurance companies can factor the rule and start major increases now.

And yes. The Cyna Cheapos will kick US Automakers' collective asses just as surely as computer chip manufacturing. Some might say, it will be a bloodbath.

Grand, really, the two citadels of US domestic wealth creation, automotive and petroleum, hit in a pincer. Weird, right after auto manufacturers hinted at backing off EVs and all the horror stories about cost, durability, survivability, and suitability began to be talked about openly. Weird.

Posted by swksvolFF 2024-03-22 10:28|| 2024-03-22 10:28|| Front Page Top

#3 Some might say, it will be a bloodbath.

Some, including the head of Chinese automaker XPeng who used that expression talking about the effect on the US auto industry once they get their Mexican plants up and running.

Posted by SteveS 2024-03-22 14:10|| 2024-03-22 14:10|| Front Page Top

#4 "When you vote, you are exercising political authority, you're using force. And force my friends is violence. The supreme authority from which all other authorities are derived."
/Jean Rasczak

Posted by swksvolFF 2024-03-22 20:20|| 2024-03-22 20:20|| Front Page Top

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