Americans’ appetite for oversize vehicles pushed up the price of new cars sold in the U.S. to a new high in December.
In a month known for its luxury vehicle sales, many consumers opted for both full-size pickups and midsize SUVs, pumping up both the average asking price and the average transaction price.
Consumers paid on average $50,326 for a new ride, easily eclipsing the previous record of $50,080 set in September, Cox Automotive reported. The average asking price also set a record at $52,627 and has exceeded $50,000 for eight straight months. Both metrics were up about 1% from November and a year earlier.
The price inflation, which started during the supply-chain slowdowns of the pandemic era, may be easily metabolized by the better-off consumers buying high-end vehicles but has become increasingly hard to swallow for mass-market shoppers.
“We typically see elevated prices in December, as the market delivers a strong mix of high-end and luxury vehicle sales,” said Cox Automotive Executive Analyst Erin Keating. “Last month, nearly 20% of shoppers bought luxury, a peak for 2025 – and that doesn’t include the volume of high-end pickups that were snapped up by affluent shoppers.”
More than 230,000 full-size pickups sold in December, their best sales month in five years, Cox said. At an average price of $66,386, close to its record set in October, the segment played an oversize part in the overall ATP inflation. Combined with fleet full-size truck pickup sales, segment revenue exceeded $15 billion for the first time, according to Cox.
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