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$50,000 average new vehicle price

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Alex Snyder

Alex Snyder

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At the $48,182 average price paid in August of 2023, it is possible we'll break into the $50K territory in 2024. Here are 10 manufacturers that are already above a $50,000 average:
  • Tata Motors, $86,154
  • Rivian, $73,396
  • Tesla Motors, $69,831
  • BMW, $68,389
  • Daimler, $66,158
  • Geely Auto Group, $58,648
  • Stellantis, $54,880
  • Volkswagen Group, $54,858
  • Ford Motor Company, $54,227
  • General Motors, $52,175
This is newsworthy with Stallantis, VW, Ford, and GM at these levels. The average price for an EV was $66,524 last month.

Sources:
money.com

The Average Price of a New Car Is Creeping Toward $50,000

Inventory remains low, and there's an increase in expensive electric car and luxury vehicle sales.
money.com money.com
 
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✨ AI Highlights

  • Alex Snyder reports that new vehicle average prices reached $48,182 in August 2023 and are likely to exceed $50,000 in 2024, with 10 major manufacturers already surpassing that threshold—including mainstream brands like Ford, GM, Volkswagen, and Stellantis.
  • The post highlights that EVs command a notably higher average price of $66,524, making the industry-wide price escalation particularly significant for dealers to monitor.
  • The key insight is that premium pricing has become standard across even traditional mass-market automakers, signaling a structural shift in the market rather than a temporary anomaly.

Alex Snyder reports that new vehicle average prices reached $48,182 in August 2023 and are likely to exceed $50,000 in 2024, with 10 major manufacturers already surpassing that threshold—including mainstream brands like Ford, GM, Volkswagen, and Stellantis. The post highlights that EVs command a notably higher average price of $66,524, making the industry-wide price escalation particularly significant for dealers to monitor. The key insight is that premium pricing has become standard across even traditional mass-market automakers, signaling a structural shift in the market rather than a temporary anomaly.

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