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.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Caroline Woods with TheStreet.
