Blake D’Ippolito
The Automotive Industry is one sector of our economy
that relies heavily on the planned obsolescence model. In 2014 alone, 16.1
million new cars and trucks were sold in the U.S... Every year, automobile companies
come out with new and updated models, with only minor improvements.
The difference in price between a brand new car and the
same car that is 2 years older is enormous. A 2015 Toyota Prius with no
upgrades has an MSRP or $24,000. The 2013 Toyota Prius has with the same
features has an estimated resale value of $16,000. This vehicle’s worth drops over 15% each year for the first 3 years
of its existence!
The only benefits to owning brand new car is the
warranty in case of any malfunctions. Even then, there are certified pre-owned
vehicles that come with a warranty that are a few years old.
What
can we do to curb car companies’ reliance on planned obsolescence with this
information?
The best solution, based on pricing, would be to buy a vehicle that is two years old, from a
certified pre-owned lot that offers limited warranties. These models often
appear just as new as the current model, and most of their issues are
well-documented. However, there is a trade off with buying a car that is older
than two years old. As the vehicle ages, the price comes down. It also comes
with more wear and tear on the car that can lead to major issues that costs
hundreds and sometimes thousands of dollars to repair.
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