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Wednesday’s Headlines Say the Car Loans Are Too Damn High

Hey automakers, let's put some more small cars for sale in the U.S., OK?

Martin Pettitt, CC|

In Britain small cars like this are the norm, but they’re not even available in the U.S.

  • The Autopian argues that inflation and high interest rates are what drives consumers toward small cars, not gas prices. In that context, it makes sense that automakers miscalculated when they went all-in on big, expensive electric SUVs and pickup trucks (Business Insider). Right now, what drivers want are smaller, practical vehicles under $40,000, but few are available.
  • In unrelated news, a man who made billions off of high-interest loans to low-credit car buyers paid Donald Trump's $175 million bond for his New York civil fraud case. (Washington Post)
  • Highway construction costs are rising at a 24 percent annual clip, far outpacing the rate of inflation. (Eno Center for Transportation)
  • Pittsburgh Regional Transit is considering reviving unused light rail lines while others are closed for remodeling. (CBS News)
  • Nashville transit agency WeGo is working to become more efficient in advance of a November referendum on transit funding. (WPLN)
  • Some bike shops aren't participating in Colorado's e-bike rebate program because they don't get reimbursed until they file their taxes. (Colorado Public Radio)
  • Plans are moving forward for a linear park and cycle track on a "selfie-friendly" Atlanta bridge. (Urbanize Atlanta)
  • Boston Mayor Michelle Wu is commuting on public transportation and putting it all on TikTok. (Fast Company)
  • Speaking of TikTok, one influencer is zooming in on Los Angeles transit and how single-family zoning restricts access. (The Cooldown)

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