Winning the lottery, coming into a large inheritance, or taking up art lessons and hawking your masterpieces for six digits.
While most of these circumstances seem pretty unlikely, it's basically what you're going to need to be able to afford a new car in 2023.
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The auto industry is still in the throes of a worldwide chip and parts shortage, first wrought by the covid pandemic, which for months essentially shut down factories and crucial supply chains and crunched demand. Many of these suppliers are still struggling to catch up, and high-performance chips, which require precision and time to manufacture, aren't made overnight.
Even car makers that were once friendlier on the wallet have become less attainable for an average driver. As of August, a new car costs an about $48,000 — before taxes and other fees. It's not cheap out there. If you wanted a new car, only three models were available in the U.S. for $20,000 or less.
Even $20,000 for a car seems like a lot of money. Luxury cars aren't the only ones fetching eye-popping prices -- if you're after that new car smell, prepare to shell out for it.
Honda (HNDAF) -), for its part, has a crafty workaround for those sky-high costs. The ubiquitous and popular Japanese car maker, which has been renowned for years for blending utility and sport, has developed the Motocompacto, an electric scooter that folds down pretty much anywhere.
Honda's electric scooter comes to the rescue
If the name Motocompacto sort of rings a vague bell, that's because in the early 1980s, Honda had a similarly named Motocompo gas powered scooter. It also folded down, but was never available in the U.S. and went bust after two years.
This time around, Honda is bringing back the compact micro-mobility marvel -- electrified and stateside.
Introducing the all-new Honda Motocompacto! ⚡ With its sleek design and revolutionary foldable feature, it's changing the game. #Motocompacto Learn More: https://t.co/WxOpSno4VE pic.twitter.com/CfAc2vUjeh
— Honda (@Honda) September 14, 2023
Here are some stats on the new ride:
- Gets a full charge in 3.5 hours
- Uses a common 110v outlet
- Weighs just 41.3 lbs
- Top speed of 15 mph
- Maximum range of 12 miles
- Peak output is 490 watts
- The whole scooter is just 3.7 inches wide but has folding foot rests
- Folds up to 29 inches long x 21 inches high
"Motocompacto is easy to use and fun to ride, but was also designed with safety, durability, and security in mind. It uses a robust heat-treated aluminum frame and wheels, bright LED headlight and taillight, side reflectors, and a welded steel lock loop on the kickstand that is compatible with most bike locks," Honda project lead Nick Ziraldo said.
Sales will begin in November and the Motocompacto will retail for $995. Similar electric scooters and e-bikes retail in or around that price point.
The GoTrax G6 Commuter Scooter, which has a range of 48 miles and a 20 mph max speed, retails for $799. The Velotric Discover 1 Commuter E-Bike, which has a top speed of 20 mph and a range of 65 miles, retails for $1599 (neither of which, however, fold up into the size of a pizza box).
