Buying a new car? Get ready for sticker shock!
Transcript:
CAROLINE WOODS: Buying a new car? Get ready for sticker shock!
The average new vehicle in America now tops $50,000 – a record high, according to Kelley Blue Book.
Prices have been climbing for more than a year. Tariffs have added pressure, but the biggest drivers are luxury models and pricey EVs.
EVs now make up nearly 12% of U.S. sales and average $58-thousand.
The $20,000 car? Basically extinct. And in the world of six-figure vehicles, the Cadillac Escalade is still king.
Despite record prices and tariffs, Americans are willing to pay up to hit the road.
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