There’s an affordability crisis in the car industry. But Chevrolet is pushing back.
As interest rates have soared, automakers concluded that only wealthier, better-credit buyers could afford to car shop. They tailored their lineups accordingly, trimming affordable models from their lineups and designing pricey vehicles instead.
That created the market car shoppers see today. In March, Kelley Blue Book research shows, more vehicles in the U.S. sold for prices above $75,000 (sales of more than 81,000) than below $25,000 (nearly 52,000).
The problem has grown severe enough that dealers used a major industry gathering in January to push for factories to send them more cars their customers can afford.
Chevrolet seems to have heard the request. The company just revealed pricing on its newly-redesigned 2025 Equinox compact SUV. With more rugged looks, an upscale cabin with a pair of touchscreens mounted together like one wide screen surface, and a redesigned chassis, it seemed destined for a significantly higher price than the 2024 model.
It will cost all of $605 more.
The 2025 Equinox starts at $29,995 – $28,600 plus a $1,395 destination charge. The model is slated to go on sale in “mid-2024,” Chevrolet says.
The price gives Chevrolet three SUVs with starting prices under $30,000 – the all-new and sharp-looking Trax, the Equinox, and the Trailblazer.
Falling prices and increasing incomes have new cars growing more affordable for the average buyer. Those numbers will keep improving if more automakers follow Chevrolet’s lead and design attractive new cars with low target prices.
