Average New-Car Price Hits $50,562 — Just Shy of the All-Time Record

The average new-vehicle transaction price rose for the fourth consecutive month in September, increasing 0.9% from August to $50,562 — just $52 below the record set in December 2025, according to Cox Automotive.

Prices were up 0.7% from a year ago. Incentive spending increased to 6.6% of the average transaction price, though it remained below last year's level. Cox chief economist Jeremy Robb noted that demand hasn't disappeared — it has shifted, with consumers making different trade-offs based on budget.

One bright spot: stronger sales of lower-priced vehicles, including subcompact SUVs, compact cars, and small/midsize pickups, helped temper overall price growth. Cox also noted over the summer that smaller vehicle classes were posting notable sales gains while full-size pickups and SUVs stayed flat.

Meanwhile, used-car prices remain elevated but flat — the average listed used-vehicle price was $27,239 in August, and Cox trimmed its Manheim Used Vehicle Value Index outlook to just 0.2% growth for the year. With new cars averaging over $50K, knowing the fair market price before you negotiate matters more than ever.