The average price of a new car in the US is $ 34,000

The average price of a new car in the US is $ 34,000

November 2, 2019 0 By autotimesnews

According to statistics from United States companies, the average price of a new car for the first time ever exceeded $ 34,000.

Our colleagues from North American automotive publications report that the average price of a new car in the United States for the first time in a long time reached a record $ 34,217. Data valid for October 2019. This incredible increase compared to the previous record of 33,924 dollars, which was set in December 2018, shows a steady increase in prices for new cars, despite the fact that sales continue to fall year after year. The question is, what is the reason for this increase?

According to data collected by specialists from statistical agencies J.D. Power and LMC Automotive, the increased average purchase price of a new car in the United States is largely dependent on customer preferences.

  In October 2019, 72% of sales came from SUVs and pickups. The market share of SUVs and trucks increased by 2.4% compared to October 2018.

Another interesting information disclosed by J.D. Power and LMC Automotive, regarding the distribution of purchases by various price indicators. “Sales of cars worth less than $ 30,000, which is 46% of the market, decreased by 7%, while sales of cars worth more than $ 30,000 increased by 6%. The average purchase price for a new car in the United States is growing rapidly, recently pickups and SUVs have been very popular. ”