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Carney on ‘Kudlow': Electric Vehicles Are Pushing Up Auto Insurance Prices
[Breitbart] The Biden administration’s push for electric vehicles (EVs) is exacerbating the country’s inflationary woes by driving up the price of auto insurance, Breitbart Economics Editor John Carney said in a Thursday interview with Fox Business host Larry Kudlow.Kudlow noted that the Biden administration’s new environmental rule aimed at eliminating gas-powered vehicles is "inflationary" in practice. "You wipe out gas-powered cars and stick EVs in, that is inflationary. You get nothing but higher prices for everything across the board," he said. Carney agreed and highlighted the inflationary pressures EVs are already having on auto insurance. "A lot of people have been noticing that auto insurance is way up," he said. "The more you get [of EVs], the higher auto insurance comes out because EVs are very expensive to repair once you get in a wreck." "So, you’re going to see that auto insurance number keep climbing," he continued. "I’m told by people in auto insurance that that’s been one of the drivers of why auto insurance inflation is so high because it’s so much more expensive to repair a car today than it was 10 years ago." Related: Electric vehicles: 2024-03-15 Accelerating the electric vehicle doom loop Electric vehicles: 2024-03-15 Elite Heaven or Real Hell on Earth? Electric vehicles: 2024-02-27 Consumers Driving Down Inflation Posted by: Besoeker 2024-03-22 |
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