US car prices reach new high as luxury vehicle, EV sales surge nationwide

The average new vehicle transaction price in the U.S. reached a record high in September.The average new vehicle transaction price exceeded $50,000 for the first time after rising steadily for more than a year, according to recent estimates by Kelley Blue Book. That average transaction price was up 2.1% from August and 3.6% year over year, marking the largest annual gain since the spring of 2023, according to the data. As 2026 model-year vehicles started showing up on dealer lots in September, the average new-vehicle manufacturer’s suggested retail price (MSRP), or "asking price," also reached