The average cost for a new vehicle in the U.S. hits a record high: over $51,000
From NPR.
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A new car now costs $51,000, on average — a new record, according to the Kelley Blue Book.
Every month, the Kelley Blue Book reports how much people paid for a new car in the previous month. They average the sticker price and add-on features for all types of cars from different companies. It’s a big average. But this average price is high. A report from the auto analytics firm Edmunds also found new buyers are financing more than ever, taking out big loans — and more than one in four financed with 84-month-long loan terms last quarter. Rising interest rates also mean that auto loans have gotten more expensive.
For new car buyers, it can all add up to a lot of sticker shock.
Find “NPR News Now” wherever you listen to podcasts.
Host: Korva Coleman/NPR
Reporter: Willa Rubin/NPR
Producer: Michael Zamora/NPR
Every month, the Kelley Blue Book reports how much people paid for a new car in the previous month. They average the sticker price and add-on features for all types of cars from different companies. It’s a big average. But this average price is high. A report from the auto analytics firm Edmunds also found new buyers are financing more than ever, taking out big loans — and more than one in four financed with 84-month-long loan terms last quarter. Rising interest rates also mean that auto loans have gotten more expensive.
For new car buyers, it can all add up to a lot of sticker shock.
Find “NPR News Now” wherever you listen to podcasts.
Host: Korva Coleman/NPR
Reporter: Willa Rubin/NPR
Producer: Michael Zamora/NPR
