On the recordJanuary 31, 2012
That's shocking. I do remember that the car that my wife and I are driving right now cost more than our first three-bedroom, two-bath house that we purchased when our first two children were born. That's kind of shocking as to how all that gamesmanship can drive that price up. I did have a person in the transportation business who was telling me--and I'm not going to disclose who it was--they do studies on selling tickets for the planes. It was the air industry. The ticket price is the price at which they know people will fly. They have done studies to determine, if they were to add $10, in some instances, to that price of the ticket that people will fly, you'd lose like 18 percent. Add $50, and you could lose half of your flying public. That's how much the margin is, and you have the same kind of deal in the automobile industry.
Source
govinfo.gov
