Rising Car Prices: Americans Face $50K Average for New Vehicles
The average price of a new car in the U.S. has surged to $47,612, nearly $10,000 more than pre-pandemic levels, driven by supply chain disruptions, a consumer shift towards larger vehicles, and automakers focusing on higher-priced models. American automakers have largely abandoned cheaper sedans in favor of SUVs and trucks, pushing average prices at companies like GM and Ford above $50,000. High interest rates have temporarily restrained further price increases, but potential tariff policies could drive costs even higher.