Average new car price - now $50,000+

[1srelluc]

A Surge in EV Shoppers May Have Pushed Average New Car Prices to Their Highest Ever Point

A surge in EV sales may have helped push the average transaction price to its highest ever point.

www.caranddriver.com

According to a report from Kelley Blue Book (KBB), the average sale price of new car sales in September was $50,080, making it the first month ever where the average price exceeded $50,000. The figure marked a 2.1 percent increase compared with August, and a 3.6 percent year-over-year increase, the latter aligning with long-term vehicle price inflation, according to KBB.


It's a wonder the market can sustain that kind of massive expense.....A loaded SUV for near the price of a decent home in WV....No thanks, I choose not to participate in such goings on.

Most buyers these days have been conditioned to only focus on the monthly payment, so who cares about what the price is or if the loan is for 7+ years, right.

I also noticed the is a sub-prime car loan crisis upon us. Lots of banks have exposure.

 

[pknopp]

After retiring I started driving for a couple new car dealers so I have long got over any fascination with driving a new car.

I see the prices and I don't know how so many are still buying them.

 

[Mashmont]

A Surge in EV Shoppers May Have Pushed Average New Car Prices to Their Highest Ever Point

A surge in EV sales may have helped push the average transaction price to its highest ever point.

www.caranddriver.com

According to a report from Kelley Blue Book (KBB), the average sale price of new car sales in September was $50,080, making it the first month ever where the average price exceeded $50,000. The figure marked a 2.1 percent increase compared with August, and a 3.6 percent year-over-year increase, the latter aligning with long-term vehicle price inflation, according to KBB.


It's a wonder the market can sustain that kind of massive expense.....A loaded SUV for near the price of a decent home in WV....No thanks, I choose not to participate in such goings on.

Most buyers these days have been conditioned to only focus on the monthly payment, so who cares about what the price is or if the loan is for 7+ years, right.

I also noticed the is a sub-prime car loan crisis upon us. Lots of banks have exposure.

I bought a nice Toyota RAV4 (ruby flare pearl) for about $35K. I can't imagine what people are buying if this is $15K less than the average.

 

[Blaster]

Just buy a newer used car instead.

 

[1srelluc]

I bought a nice Toyota RAV4 for about $35K. I can't imagine what people are buying if this is $15K less than the average.

From what I understand "EVing all the things" drove up the average cost.

 

[Mashmont]

From what I understand "EVing all the things" drove up the average cost.

Gotcha. That's why we got the RAV4 this year. Starting in 2026 all RAV4's will be hybrid or EV. I don't want any part of that crap.

 

[Moonglow]

I don't drive an EV. I have my truck and sedan.

 

[Moonglow]

From what I understand "EVing all the things" drove up the average cost.

And the excuses before EVing for higher prices?

 

[DGS49]

While this is an interesting milestone, it need not affect any individual consumer. Regardless of your price range - even going down to $10k - you can still find serviceable, reliable used cars that meet your budget.

I have made it a lifetime hobby to buy cars that Consumer Reports shuns, take advantage of the low resale values, and enjoy the hell out of them. My current ride is a 2019 VW Alltrak Wagon with 40k miles on it and a rebuilt title. I paid $17k.

My wife cannot even stand the thought of buying a used car, but she tends to keep them for 6-8 years. She has exceeded that $50k mark twice.

 

[odanny]

If the price of new cars go up, the prices of used cars go up. All prices are going to go up, and it will be most noticable in big ticket items like new cars. I've already seen prices go up $5-6000 on new cars priced under $40K, they are now over $40k

 

[CrusaderFrank]

A Surge in EV Shoppers May Have Pushed Average New Car Prices to Their Highest Ever Point

A surge in EV sales may have helped push the average transaction price to its highest ever point.

www.caranddriver.com

According to a report from Kelley Blue Book (KBB), the average sale price of new car sales in September was $50,080, making it the first month ever where the average price exceeded $50,000. The figure marked a 2.1 percent increase compared with August, and a 3.6 percent year-over-year increase, the latter aligning with long-term vehicle price inflation, according to KBB.


It's a wonder the market can sustain that kind of massive expense.....A loaded SUV for near the price of a decent home in WV....No thanks, I choose not to participate in such goings on.

Most buyers these days have been conditioned to only focus on the monthly payment, so who cares about what the price is or if the loan is for 7+ years, right.

I also noticed the is a sub-prime car loan crisis upon us. Lots of banks have exposure.

A contractor I know recently reconstructed a Mercedes dealership...I guesstimated that they had 250 cars on the backlot. It boggles the mind that they carry so much quickly depreciating inventory

 

[Crepitus]

A Surge in EV Shoppers May Have Pushed Average New Car Prices to Their Highest Ever Point

A surge in EV sales may have helped push the average transaction price to its highest ever point.

www.caranddriver.com

According to a report from Kelley Blue Book (KBB), the average sale price of new car sales in September was $50,080, making it the first month ever where the average price exceeded $50,000. The figure marked a 2.1 percent increase compared with August, and a 3.6 percent year-over-year increase, the latter aligning with long-term vehicle price inflation, according to KBB.


It's a wonder the market can sustain that kind of massive expense.....A loaded SUV for near the price of a decent home in WV....No thanks, I choose not to participate in such goings on.

Most buyers these days have been conditioned to only focus on the monthly payment, so who cares about what the price is or if the loan is for 7+ years, right.

I also noticed the is a sub-prime car loan crisis upon us. Lots of banks have exposure.

About 20% higher than Europe and more than double most of Asia.

And it's largely because the American automakers insist on making everything super fancy. Try to buy a car without a screen, and forget about crank windows and pop locks.

 

[Crepitus]

I bought a nice Toyota RAV4 (ruby flare pearl) for about $35K. I can't imagine what people are buying if this is $15K less than the average.

Mostly pick-ups and full sized SUVs.

Bigger is better, after all, lol

 

[Crepitus]

Just buy a newer used car instead.

But somebody gotta buy it new first...

 

[Mashmont]

While this is an interesting milestone, it need not affect any individual consumer. Regardless of your price range - even going down to $10k - you can still find serviceable, reliable used cars that meet your budget.

I have made it a lifetime hobby to buy cars that Consumer Reports shuns, take advantage of the low resale values, and enjoy the hell out of them. My current ride is a 2019 VW Alltrak Wagon with 40k miles on it and a rebuilt title. I paid $17k.

My wife cannot even stand the thought of buying a used car, but she tends to keep them for 6-8 years. She has exceeded that $50k mark twice.

Financial guru Dave Ramsey says you should never buy a new car unless you have at least $1mil in the bank. Not sure I agree with that.

 

[Crepitus]

While this is an interesting milestone, it need not affect any individual consumer. Regardless of your price range - even going down to $10k - you can still find serviceable, reliable used cars that meet your budget.

I have made it a lifetime hobby to buy cars that Consumer Reports shuns, take advantage of the low resale values, and enjoy the hell out of them. My current ride is a 2019 VW Alltrak Wagon with 40k miles on it and a rebuilt title. I paid $17k.

My wife cannot even stand the thought of buying a used car, but she tends to keep them for 6-8 years. She has exceeded that $50k mark twice.

Finding cheap used cars (under $10K and still in decent condition) has become all but impossible.

This is sadly a result of the ill advised "cash for clunkers' bullshit to prop up the automakers a couple of decades ago.

 

[candycorn]

A Surge in EV Shoppers May Have Pushed Average New Car Prices to Their Highest Ever Point

A surge in EV sales may have helped push the average transaction price to its highest ever point.

www.caranddriver.com

According to a report from Kelley Blue Book (KBB), the average sale price of new car sales in September was $50,080, making it the first month ever where the average price exceeded $50,000. The figure marked a 2.1 percent increase compared with August, and a 3.6 percent year-over-year increase, the latter aligning with long-term vehicle price inflation, according to KBB.


It's a wonder the market can sustain that kind of massive expense.....A loaded SUV for near the price of a decent home in WV....No thanks, I choose not to participate in such goings on.

Most buyers these days have been conditioned to only focus on the monthly payment, so who cares about what the price is or if the loan is for 7+ years, right.

I also noticed the is a sub-prime car loan crisis upon us. Lots of banks have exposure.

Tariffs at work.

This is what you voted for, no?

 

[Manonthestreet]

Have never bought a new car in my life......

 

[Mashmont]

Finding cheap used cars (under $10K and still in decent condition) has become all but impossible.

This is sadly a result of the ill advised "cash for clunkers' bullshit to prop up the automakers a couple of decades ago.

You are finally right. 0bama's Cash for Clunkers was a total disaster. It made prices for used cars shoot up, pricing out the poorest of the poor.

 

[Lisa558]

While this is an interesting milestone, it need not affect any individual consumer. Regardless of your price range - even going down to $10k - you can still find serviceable, reliable used cars that meet your budget.

I have made it a lifetime hobby to buy cars that Consumer Reports shuns, take advantage of the low resale values, and enjoy the hell out of them. My current ride is a 2019 VW Alltrak Wagon with 40k miles on it and a rebuilt title. I paid $17k.

My wife cannot even stand the thought of buying a used car, but she tends to keep them for 6-8 years. She has exceeded that $50k mark twice.

I kept my last new car for 19 years.