New-car prices hit a near-record $50,562 as buyers trade down

2 min read

The average new vehicle sold for $50,562 in September, just $52 under the all-time high, even as shoppers chose cheaper models.

New cars are about as expensive as they've ever been. Kelley Blue Book reports the average transaction price for a new vehicle in the U.S. was $50,562 in September. That's the fourth monthly increase in a row and only $52 below the record of $50,614 set in December 2025.

The month-to-month jump was 0.9% from August's $50,089. Year over year, though, prices rose just 0.7%. CBT News notes that's well short of the 2% to 4% gain that's typical for September, and Kelley Blue Book says the smaller increase is largely because buyers are choosing more lower-priced vehicles.

Kelley Blue Book's data shows how uneven the market is. The average Stellantis vehicle sold for $58,998, up 6.7% from a year earlier. Toyota Motor Corp. averaged $47,323, up 4.6%, and Hyundai Motor Group averaged $39,396, down 1.3%. Sports cars averaged $43,785, down 14.2% from a year ago.

There's also a timing issue. CBT News reports that prices usually rise in the second half of the year as next-model-year vehicles reach dealers, but Kelley Blue Book says those arrivals are running well behind normal this year.

What it means for shoppers: affordability is still the main story. Prices are close to a record even as people trade down, so it pays to compare transaction prices, not just sticker prices, and to look at the cheaper end of each segment. CBT News says dealers should expect only modest price growth from here.

Sources: Kelley Blue Book, Cox Automotive, CBT News