In the United States, the average selling price for a new light vehicle came to around 47,010 U.S. dollars in 2023. New light vehicles were about 1.6 percent more expensive in 2023 than in 2022.
What is the price of a new car in the U.S.?
New automobiles and light trucks were on average around 17,700 U.S. dollars more expensive than used light vehicles: the average selling price for used vehicles amounted to about 29,300 U.S. dollars in 2023. This increasing price gap between new and used vehicles is partly linked to the industry's recovery from the semiconductor shortage, which led to higher new vehicle inventory and reduced pressure on the used vehicle market.
The semiconductor shortage
The hike in prices across the board recorded in 2022 can be in parts attributed to the global automotive chip shortage, which started in 2021 as demand rebounded from the COVID-19 pandemic. The average price rise could be observed across segments, with new full-size SUV/crossover vehicles averaging 73,900 U.S. dollars as of December 2022.
New vehicle average selling price in the United States from 2016 to 2023
(in 1,000 U.S. dollars)
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National Automobile Dealers Association. (June 19, 2024). New vehicle average selling price in the United States from 2016 to 2023 (in 1,000 U.S. dollars) [Graph]. In Statista. Retrieved October 31, 2024, from https://www.statista.com/statistics/274927/new-vehicle-average-selling-price-in-the-united-states/
National Automobile Dealers Association. "New vehicle average selling price in the United States from 2016 to 2023 (in 1,000 U.S. dollars)." Chart. June 19, 2024. Statista. Accessed October 31, 2024. https://www.statista.com/statistics/274927/new-vehicle-average-selling-price-in-the-united-states/
National Automobile Dealers Association. (2024). New vehicle average selling price in the United States from 2016 to 2023 (in 1,000 U.S. dollars). Statista. Statista Inc.. Accessed: October 31, 2024. https://www.statista.com/statistics/274927/new-vehicle-average-selling-price-in-the-united-states/
National Automobile Dealers Association. "New Vehicle Average Selling Price in The United States from 2016 to 2023 (in 1,000 U.S. Dollars)." Statista, Statista Inc., 19 Jun 2024, https://www.statista.com/statistics/274927/new-vehicle-average-selling-price-in-the-united-states/
National Automobile Dealers Association, New vehicle average selling price in the United States from 2016 to 2023 (in 1,000 U.S. dollars) Statista, https://www.statista.com/statistics/274927/new-vehicle-average-selling-price-in-the-united-states/ (last visited October 31, 2024)
New vehicle average selling price in the United States from 2016 to 2023 (in 1,000 U.S. dollars) [Graph], National Automobile Dealers Association, June 19, 2024. [Online]. Available: https://www.statista.com/statistics/274927/new-vehicle-average-selling-price-in-the-united-states/