Millions of Americans face the risk of losing their cars.

VTV.vn - In the US, a worrying trend is emerging in the automotive market as the number of vehicle recalls has surged nationwide.

The main reason stems from the high cost of car loans and interest rates, making it impossible for many families to repay their debts. As a result, millions of Americans risk losing their means of transportation and facing significant financial pressure.

According to Cox Automotive, more than 2.2 million cars have been recalled in the first 11 months of the year alone. This number could reach 3 million by the end of the year, the highest level since the recession. Recalls are surging in states heavily reliant on personal vehicles, from Michigan and Ohio to Texas. In many places, vehicles can be towed away at any time, even in the middle of the night.

The cost of car loans is a major burden. 85% of new cars and more than half of used cars in the US are purchased through installment plans, with many contracts lasting 7 to 10 years. The average price of a new car has reached $50,000, resulting in common monthly payments of $700 to over $1,000.

Kenny Booth, Director of Antwerpen Hyundai Clarksville dealership in the US, said: "Car prices skyrocketed from 2021 to 2024. Taxes increased, manufacturers raised prices accordingly, and dealerships had to inflate prices. Everything became more expensive, causing car prices to rise sharply."

Vehicle recall companies say the number of recall orders has tripled compared to before, forcing recall teams to work around the clock.

With inflation remaining high and interest rates in the US showing no signs of decreasing, the number of car recalls is projected to continue rising in the near future. This development is seen as a warning sign of the increasingly difficult financial situation faced by many American households.

Source: https://vtv.vn/hang-trieu-nguoi-my-doi-mat-nguy-co-mat-o-to-100251123111052444.htm