New drivers may not need to learn traditional parallel parking techniques as many modern vehicles, such as the Ford Mustang Mach-E and Tesla Cybertruck, can park autonomously. Since April 30, 2018, all cars sold in the U.S. are required to have backup cameras, which necessitate screens in vehicles. Today's cars function similarly to computers, featuring large screens that allow for various functions, including phone mirroring and video calls. The integration of technology has contributed to the rising average price of new cars in the U.S., which has reached approximately $50,000. This increase is partly due to a shortage of RAM, a critical component for modern vehicles, which has driven up costs across consumer electronics.
The evolution of cars into computer systems began in the 1970s with the introduction of electronic systems for emissions control. More recently, electric vehicles, particularly those from Tesla, have accelerated the trend of incorporating advanced digital technology. Many new cars now include driver-assistance features and receive over-the-air software updates. Automakers are transitioning from multiple small electronic control units to centralized computers that require more RAM, further increasing costs.
The ongoing RAM shortage, referred to as 'RAMageddon,' is expected to raise vehicle prices by several percentage points over the next year. This shortage has already led to significant increases in production costs for major automakers like Ford and Volkswagen. As a result, the average price of new vehicles could rise to $60,000 or more, impacting affordability for many consumers. The used car market is also affected, with prices for three-year-old vehicles increasing by nearly 40% since the pandemic. This trend may further limit access to affordable transportation for many Americans.