Average US Car Prices Top a Record $50,000 on EV Sales Surge

The average price of a new car in America topped $50,000 for the first time last month, driven by a surge in sales of expensive electric vehicles and luxury models.

US car buyers paid an average of $50,080 for a new car in September, up 3.6% from a year ago, according to research released Monday by the Kelley Blue Book car buying guide. Record EV sales, driven by the expiration of a $7,500 federal tax credit, propelled prices into uncharted territory, further exacerbating an automotive affordability crisis.