Honestly, there are two different main drivers of US automobile pricing. The first was a combination of fuel efficiency and safety regulations that when combine

Honestly, there are two different main drivers of US automobile pricing. The first was a combination of fuel efficiency and safety regulations that when combined were difficult to meet. One side effect is that all vehicles got larger so they could be in a different vehicle class and therefore have a lower fuel efficiency standard, and then in other cases the engines were made smaller with turbos added to make up the horsepower loss. The second driving force is just consumer expectations. Many companies did make cheaper vehicles that still met the regulatory burdens and people simply didn't want them. With inflation pressures, layoffs, and other downward pricing pressures, we should expect consumer preferences to change, but I also expect that the global vehicle fleet will continue to age (especially as most vehicles are of sufficient quality that they needn't be replaced).