The average price of a new car is now more than $50,000.
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CAROLINE WOODS: In the market for a new car? Prepare to pay up!
Kelley Blue Book says the average new vehicle in America now costs more than $50,000 – a record high.
Prices have been climbing for more than a year and while tariffs have played a role,the biggest drivers are luxury models and pricey EVs.
Electric cars now make up nearly 12% of U.S. sales, and their average price? Just over $58,000.Analysts say the $20,000 car is basically extinct – today’s market belongs to buyers with deeper pockets.
And in the rarified world of six-figure vehicles, the Cadillac Escalade is still king.
Despite the record high prices, sales remain strong, proving plenty of Americans are willing to pay premium prices to hit the road.
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