Today’s Big Story

Shrinking Car Sales

Pickup truck sales fall as Americans move toward smaller, cheaper cars

It feels almost un-American. After all, we’re a country where nothing can be too big, right? Drinks, homes and certainly not cars. Which explains why over the decades cars have gotten taller and wider—just generally bigger and bigger. The average vehicle in the U.S. weighed just over 4,300 pounds in 2022; a full 1,000 pounds heavier than it was four decades ago, according to EPA data.

But the tides might be turning on these girthy vehicles. For the first time in a long time, full-size truck sales are slipping. Midsize SUV sales are slipping, too. But the smaller SUVs, compact cars, and even subcompact SUVs are gaining ground. If you had to guess which car category floundered at the start of 2024, which would you go for? Maybe electric vehicles with all the press about drivers switching to hybrid models instead? Wrong, it was the humble American pickup truck.

That’s right, sales of large pickups were down 4% between January and March 2024, reports Automotive News. The dip came as buyers moved to the light-vehicle market, which was up 5.6% during the same period. Jalopnik says when you look at the share of vehicle sales that large pickups occupy, the results are even more alarming. For the last eight years, large trucks accounted for more than 12% of new vehicle sales in the first quarter of the year, peaking in 2020 when they made up 15% of sales. In 2024, however, they accounted for just a little over 2% of light-vehicle sales here in the U.S.

Is the pickup truck’s crown tarnishing? Or are the higher prices for some models and increasing interest rates really to blame for the stagnant sales? CarScoops says it makes sense for Americans to embrace smaller vehicles. “The argument is fairly straightforward. Larger, heavier cars are less efficient, they’re more deadly to those that end up in a crash with one, and they’re more damaging to infrastructure.” They also point out that smaller cars typically handle better, accelerate and brake better. “They require less power to be fast and thus they encourage drivers to enjoy the drive more than larger, slower, less agile cars.” I’m a huge proponent of making cars more fun so that more people enjoy the task and actually do their best to be good at it. Let’s hope more people start thinking small when it comes to cars.

Biden Announces New Student Debt Relief

The president’s latest plan would slash debt and interest for millions of Americans

The Biden administration on Monday announced a new sweeping student loan forgiveness plan that would provide relief for more than 30 million borrowers. The annoucement comes nearly a year since the conservative majority on the Supreme Court struck down the White House’s sweeping attempt to forgive student loans—Biden called the court’s decision a “mistake” but ordered the Education Department to craft a new plan using a different legal authority. The latest proposal is more targeted than his original plan, focusing on those for whom student debt is a major obstacle.

Under this new “Plan B,” the administration would cancel up to $20,000 of a borrower's accrued interest, regardless of income. In addition, low-and-middle income borrowers—single people making less than $120,000 or couples making less than $240,000—enrolled in an income-driven repayment plan would have all of their interest forgiven.

Still, the Biden administration is likely to face opposition from Republicans and conservative critics, who may try to use the federal court system again to derail the plan, reports Vox. It’s also unclear whether voters, especially younger ones, will give Biden credit for this attempt since it largely applies to borrowers who have had debt for a long time, like millennials and Gen Xers. And, of course, any relief is likely at least a few months away.

UConn Wins NCAA Title. Again.

The Huskies blew out the Purdue Boilermakers in Monday’s championship game

To win an NCAA Tournament, a team has to be fortunate. That’s because no event in sports injects more chaos than March Madness, when one fluky cold stretch or an opponent’s hot shooting streak can send even the best team home early. It’s better to be lucky than good, they say. But it’s even better to be so great that you don’t need luck. And the top-seeded Connecticut Huskies were that great on Monday night.

As UConn tidily dispatched fellow No. 1 seed Purdue, 75-60, the confetti cannons inside State Farm Arena erupted. The celebration signaled that the team had accomplished what no college basketball team had since Florida in 2006-07: winning consecutive NCAA championships. ESPN says the tensionless second half “left the greater college basketball world with only one remaining drama to ponder—where does this two-year UConn run rank among the all-time great repeat performers in the sport? And should this team be considered among the all-time greats?”

The Ringer agrees. “For the first time, anything seems possible for what comes next at UConn—whether it’s going toe-to-toe with Duke for another all-world prospect or maybe even becoming the Duke for a new generation. The Huskies’ surprise runs used to shock the world. Now their utter dominance does.”

What Is Hop Water?

Any why is it suddenly everywhere?

As the American craft-beer scene has exploded—with IPA leading the charge—hops have gone from just another obscure ingredient to the life of the party. But as we’ve discussed before, IPA burnout is real and as our nation’s long craft-beer fever cools, more and more beer enthusiasts (especially Zoomers) are turning to nonalcoholic beverages to give their livers a much-needed rest and to enjoy partying with a clearer state of mind.

If you haven’t heard of hop water yet, you’re about to—because it’s suddenly everywhere. And it’s basically exactly what it sounds like. Punch says it’s hop-infused sparkling water with (occasionally) added flavorings—essentially LaCroix for beer fans. At its best, it’s crisp and refreshing, and it delivers a bit of what folks love about a good beer, without any of the alcohol-induced side effects. But it doesn’t taste like beer. Rather, more like a floral seltzer, with piney, citrusy, earthy or fruity flavors depending on the type of hops and infusions used.

And it’s taking off. InsideHook says the beverage has experienced “massive proliferation over the past few years and posted some of the largest growth numbers in the industry.” However, potential icebergs are floating on the horizon, though, as the hop market grows along with demand. This also comes at a time when climate change is reducing the quantity and quality of hops worldwide, while at the same time increasing the cost. At the moment, however, it’s full steam ahead for hop water.

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