redbloodedamerica:

A simple fact check debunks that claim.

New car sales for the last few years are near all time highs [1]. Note we use the term “cars” in the colloquial sense, referring to everyday passenger vehicles, including minivans, SUVs, picks, and vans, which are officially classified as “light trucks,” not cars.
By the strict definition of “cars” to mean only sedans, then car sales are indeed down, replaced by growing demand for SUVs and pickups, which account for 2/3 of new car sales [2].

Median personal income also at all time highs (adjusted for inflation, of course) [3].

The increasing demand for SUVs reflects the growing median income, as SUVs typically cost more than their counterpart sedans, and were once considered luxury vehicles. More people opting to upgrade to a more expensive alternatives is hardly “can’t afford to buy things” as the debunked meme claims.

[1] https://fred.stlouisfed.org/series/ALTSALES#0

[2] https://www.reuters.com/article/us-auto-sales/u-s-suv-sales-jump-again-in-august-idUSKCN1LK1K0

[3] https://fred.stlouisfed.org/series/MEPAINUSA672N