The Average New Car in the U.S. Now Costs $48,000 😱

What we’re showing

The average transaction price for a new car in the U.S.

Key takeaway

Those looking for a cheap new car have very few options in today's market. Reasons include more standard features (which drives up the base cost of a vehicle), as well as shifting consumer preferences towards pricier crossovers & SUVs.

Supply chain issues during the COVID-19 pandemic also sent prices skyrocketing, though they've come down slightly throughout 2023.