New Vehicle Average Transaction Prices Dec 2022

[SubLGT]

KBB: Average new vehicle transaction price in US in December up 1.9% from November; EV ATP dropped 5.5% due to Tesla

The average transaction price (ATP) of a new vehicle in the US hit a record high in December at $49,507—an increase of 1.9% ($927) from November and up 4.9% ($2,297) from year-earlier levels. New-vehicle inventory levels are increasing from historic lows earlier in 2022, but prices remain...

www.greencarcongress.com

According to Kelley Blue Book calculations, new-vehicle ATPs have been above the average manufacturer’s suggested retail price (MSRP), also known as the sticker price, for more than a year.

The average price paid for a new non-luxury vehicle in December was $45,578—a record high and up $994 month-over-month.

The best-selling vehicle in the US is the Ford F-Series pickup truck, and the average price paid for a new F-Series is well into luxury territory at $66,451, according to Kelley Blue Book estimates.

In December 2022, the average luxury buyer paid $66,660 for a new vehicle, down $216 from November. Buyers continue to pay over MSRP for new luxury vehicles, but not by much. Luxury cars at all levels were selling below MSRP in December, along with luxury compact and sub-compact SUVs.

The average new EV sold for $61,448, according to Kelley Blue Book estimates, still well above the industry average.

 

[odie]

. No wonder no one can afford eggs .

 

[Passport1]

Not trying to put too fine a point on this but 'According to Cox Automotive and Moody's Analytics, the average monthly car payment hit a high of $748 in October 2022.'

 

[Ed_Flecko]

Not long ago I heard them say on my local radio station that in 1970, the average car price was, roughly, 25% of the average, annual salary.

Today, the average new car is approximately 50% or more of the average personal salary.

Ed

 

[Lubener]

I wonder what the average length of the financing?

 

[odie]

Not long ago I heard them say on my local radio station that in 1970, the average car price was, roughly, 25% of the average, annual salary.

Today, the average new car is approximately 50% or more of the average personal salary.

Ed

That free fill of gas from the dealer will help ease the burden .

 

[odie]

Not including the cost of insurance . So , probably at 70% with the additional cost ( gas , maintenance , etc.. ) of owning a vehicle .

 

[wpod]

Not long ago I heard them say on my local radio station that in 1970, the average car price was, roughly, 25% of the average, annual salary.

Today, the average new car is approximately 50% or more of the average personal salary.

Ed

With the car sales as they are , the prices must not be too high.

 

[wpod]

. No wonder no one can afford eggs .

That is a good point and I was thinking a similar thought. We will instead of being able to buy a week end car, Motorcycle , boat, camper ,take vacations etc we will just be able to afford the necessities. We will own nothing yet be happy. I know people that own 3 cars a camper ,boat ATVs and never seem to have the money for home repairs.

 

[odie]

This is your brain after payments .

 

[AZjeff]

Not eggs again. Please.

 

[MasterSolenoid]

It won't be hard to convince the 'next' generation to NOT own a vehicle.

Get out your smart phone and make an appointment for a self-driving car to pick you up.

 

[miden851]

Not including the cost of insurance . So , probably at 70% with the additional cost ( gas , maintenance , etc.. ) of owning a vehicle .

while loosing its value in the process

the other day, I came across the loan for 2023 Toyota Tundra, the price $82K OTD

 

[joekingcorvette]

No wonder used car prices are so high.

 

[supton]

Not long ago I heard them say on my local radio station that in 1970, the average car price was, roughly, 25% of the average, annual salary.

Today, the average new car is approximately 50% or more of the average personal salary.

Ed

Hrm.

I tried to search for median new car sales price, but every link shows average. As we all know, average can be skewed. Not saying that median is the magical mostest & rightest means of measuring things, but sometimes average is misleading. "Many" would see average and think that is what they would have to pay--whereas the truth is, half of new car sales would be below median, half above.

Anyhow, digressing. Link.

I'm not sure why the article flips from median household to then average individual earned income, so I'm ignoring that.

Another Link. Figure 1 has it at $1,068 per week.

That's $55,536, I believe for individuals, for median. Doesn't agree with the above though. But it's still above "average" car price, which makes me think, median to median, cars are still less than a year's in come. Still a bit pricey...

This link confuses average and median, don't bother.

This link gives averages, but then ranks by state, and with 2x range across the country, starts to show the issue: car prices might be relatively constant across the US, but income sure isn't.

*

I started working in 2000. Now I feel old, a car costs more than I used to make. Won't be long before I start boring my kids about how I had to drive a car using both hands while having to pay attention to the road.

 

[ls1mike]

That is median? How do people live on that? I mean I live in the Seattle area so it is pricey, but still. Really it is getting pricey everywhere.

 

[10WSmuckers]

I can't wait for this house of cards to burn down and I can snatch up cars and trucks cheap.

 

[odie]

while loosing its value in the process

the other day, I came across the loan for 2023 Toyota Tundra, the price $82K OTD

It's a no brainer at $82,000 . Will get the extended warranty too .

 

[odie]

I can't wait for this house of cards to burn down and I can snatch up cars and trucks cheap.

It's a cycle . Never learn .

 

[odie]

Not eggs again. Please.

Wonder how this is affecting the cost of the EGG McMUFFIN ? Haven't ate there close to 4 years .