The average price of new cars exceeds $ 45,000 | Highest ever
For the first time ever, the average price of a new car has exceeded $ 45,000, according to a new report from Kelley Blue Book and data from TrueCar, a CR partner that provides market analysis and an online marketplace for cars. Buying a car – just about any car – has been difficult for months now, and new data shows that new cars, like used cars, are costing consumers more than ever. Blame it on the pandemic and the resulting global semiconductor shortage that has hampered the ability of automakers to produce new cars, reducing supply, driving up prices and limiting availability.
“We are seeing new transaction prices reaching historic highs,” said Nick Woolard, analyst at TrueCar. “In September, we saw the average transaction price increase 7.7% from the previous year. “
Woolard says the inventory of new cars at dealerships is generally pretty slim right now. “You see dealerships parking their vehicles on the side to make it look like they have more vehicles on the lot,” he says, adding that even a modest increase in the availability of new cars can lead to some relief from the costs. price.
For several years, various factors have contributed to the rise in the average price of new cars. On the one hand, consumer tastes have turned to more expensive truck and SUV models. And the recent scarcity of all models has led to more extreme price increases among traditionally more affordable models.
In a detailed analysis of new car prices, Consumer Reports and TrueCar identified which models got more expensive quickly, as well as the best deals, including great deals on great cars.