Ford, GM, and Stellantis Bosses Called to Washington over Rising Car Costs

Big names from Detroit head to Washington as car prices hit record highs

For the first time in years, the top bosses of Ford, GM, and Stellantis are being called to Washington. Lawmakers want answers about why cars have become so expensive and what is happening with the future of electric vehicles. The hearing will take place on January 14, and it is expected to catch a lot of attention.

The U.S. Senate Committee on Commerce, Science, and Transportation is hosting this session. The committee says it wants to understand what is pushing car prices up and how current rules are affecting both carmakers and buyers. Senator Ted Cruz, who is leading the hearing, says people across America are worried about car costs and want to know why a new car now feels so out of reach.

In its announcement, the committee shared some eye-opening numbers. In 2000, the average new car cost around twenty thousand dollars. In 2010, it went up only a little. But in the last decade, prices have shot past fifty thousand dollars. Many lawmakers say that new rules on emissions, fuel economy, and added technologies have played a major role in this jump.

The hearing will also look at other major topics. These include tariffs, federal support for electric cars, and how global issues are affecting supply chains. To get a complete picture, Tesla’s Vice President of Vehicle Engineering, Lars Moravy, has also been invited.

This meeting comes at a time when car prices have hit their highest point ever. According to recent data, even the most basic new models are now costing more than many families can afford. Some popular vehicles, like pickup trucks, often sell for above sixty thousand dollars.

With prices rising and big changes happening in the auto world, lawmakers believe this is the right moment to question the biggest names in the industry. Many people are hoping this hearing will bring some clarity and maybe some relief in the future.