In January 2023, the CPI for Motor Vehicle Parts and Equipment rose 8.3% over January of 2022.
More Than Half Of Consumers Paid For Major Car Repairs In The Past 5 Years, According To Ally Financial
A 2018 Federal Reserve study also found that when faced with an unexpected $400 emergency expense, 41 percent of adults either could not pay the expense, or would need to borrow money or sell something to cover it.
Border Adjustment Tax To Cost Car Owners $160 More Per Year For Auto Repairs And Maintenance, Association Says
The total cost of BAT on American families is approaching $2,000 per year, the association estimates.