New Vehicle Prices Hit Record High
Jan. 13, 2022—The average transaction price of new vehicles in the United States shot up nearly 14 percent in December from the previous year, Reuters reported.
According to Kelley Blue Book, the prices hit a record high of $47,077 last month as new-vehicle inventory remained tight following healthy consumer demand.
For each of the last six months, the average price paid by consumers was above the manufacturer's suggested retail price (MSRP) as dealers continue to hold prices at or above MSRP, according to the auto consultant.
Meanwhile, the average price for a new non-luxury vehicle was $43,072, slightly lower than the record high set in November.