How the Average Price of a New Vehicle Hit $50,000

How the average price of a new vehicle hit $50,000

When it comes to vehicle prices, the Kelley Blue Book is an essential, credible resource. So when it reported that the average price of a new vehicle crossed $50,000 in September, it’s worth exploring the news.

What's driving the surge in new-vehicle prices? — Erin Keating

September marked the first time the average transaction price (ATP) for new vehicles exceeded $50,000. On today’s episode of CBT Now, Erin Keating, executive analyst at Cox Automotive, joins us to discuss it and what it means for the industry moving forward. Keating emphasizes that the market is nuanced. While the ATP has surpassed $50,000, the median price for new vehicles has been over $50,000 since 2023. The average is influenced by the high …