New Vehicle Average Transaction Price Hits Record $50,000 in September
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Summary
The average transaction price for new vehicles in the U.S. reached a record high in September, surpassing $50,000 for the first time ever. This milestone reflects a steady year-long trend of increasing vehicle prices, with the pace of increases accelerating in recent months. Despite the higher costs, retail sales continue to maintain a healthy pace, indicating sustained consumer demand in the automotive market.
Key quotes
· 3 pulledIn September, the average transaction price (ATP) of a new vehicle in the U.S. was above $50,000 for the first time
New-vehicle prices have risen steadily for more than a year, with the pace of the increases accelerating in recent months
Despite higher prices, retail sales continue to maintain a healthy pace
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