The U.S. Senate wants to know why cars are so expensive, but Ford CEO Jim Farley doesn't want to testify — not yet, anyway. Senator Ted Cruz planned a congressional hearing with the CEOs of the Detroit Big Three (Ford, Chevrolet, and Stellantis) on January 14, but Farley, through legal counsel, first hesitated by citing a scheduling conflict with the Detroit Auto Show, which starts on the same day and was described by Farley as the "Super Bowl week for autos." His letter to Cruz also pointed out that it's unfair to expect Detroit CEOs to attend and not others after Tesla CEO Elon Musk was omitted from the invite list, with the EV maker's VP of engineering being called to the hearing instead. Basically, if Tesla can have engineers answer questions on the cost of new cars, why can't other automakers? Now, the whole hearing is up in the air.
Senate Commerce Committee Hearing Delayed
According to Politico, the January 14 hearing has been delayed because of Farley's declining to testify on the scheduled date. After Farley's letter, GM CEO Mary Barra also declined to attend unless other Detroit CEOs did. Committee spokesperson Phoebe Keller said the committee is "coordinating with the leaders of the auto industry to reschedule this hearing." If Ford, GM, and Stellantis CEOs all attend, it will mark the first time since 2008, when carmakers were reeling from the recession, that the CEOs of the Big Three jointly appear before Congress. Since then, Tesla has become a powerful force in the auto industry, but it seems that even with Farley's objection to non-CEOs testifying, Musk is unlikely to appear at the hearing.
Elon Musk is Unlikely to Testify on Affordability
Senator Cruz has since defended the decision not to invite Musk, fearing that his appearance would derail the whole hearing. "If Elon is a witness, the Democrats will turn it into a circus," said Cruz. The senator is adamant that the hearing will go ahead and that Farley will make his case before the committee, but it's unclear if the other Detroit CEOs will make a simultaneous appearance. Whatever happens, the country would love to understand why cars have become so expensive. In May 2025, a study revealed that Americans are keeping cars longer because they can't afford replacements, with nearly 40% of respondents saying that a new car is out of reach. A similar analysis published last week shows that things have not changed, and with the average new car price exceeding $50,000 for the first time ever in 2025, these studies are no surprise. Will this hearing lead to improvements? Hopefully, but for now, we have to wait for CEOs and senators to agree on a date to meet.
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