Controversial take: the problem isn't car prices. They haven't increased that much when compared to inflation, and you're getting far more and far better cars for your money when adjusted for inflation.

The problem is wages haven't risen and housing prices have risen too much, meaning people have less to spend on a car.

E: I googled. In the US the cost of a median house was 18k in 1953. An average car cost 3.5k.

Now, the median house costs 400k.

400k/18k x 3.5k = If car prices had risen as much as house prices, the median car would cost 77k.