The average price of new cars hit a record high of $ 45,000 in September
As new vehicle sales continue to decline, selling prices continue to rise.
A new study by Kelly Blue Book found that the average price paid for a vehicle in September was an all-time high of $ 45,031 as discounts dwindled and buyers in the market turned to higher-end models.
âThe record prices in September are mainly due to the mix of vehicles sold,â said Kayla Reynolds, analyst at Cox Automotive.
âSales of midsize SUVs jumped in September compared to August, and the share of full-size pickup trucks also increased. vehicle inventory remains tight, we believe prices will remain high. “
It was the sixth consecutive record month, according to KBB data.
The auto industry has been plagued by parts supply issues caused by the coronavirus pandemic, which has led many people to prioritize the production of their profitable and expensive models.
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Cadillac led the way in the back of its redesigned Escalade SUV which helped push the brand’s average selling price up 51.2% from September 2020, while Tesla was the most stable with an increase 1.5% compared to last year despite the launch of several important awards. rides on its volume models this year.