The average new vehicle in America sold for $43,355 in August. That marks the fifth consecutive month of record highs and sits nearly 10% higher than one year ago.
Higher prices, slower sales
The increase comes despite a slowdown in actual sales. Americans bought 1,092,302 new cars in August – one of the lowest monthly sales totals we’ve seen in a decade. That nearly matches sales volume from April of 2020, when COVID-19-related travel restrictions slowed American commerce to a crawl.