Average New Car Price Surpasses $34,000 For The First Time Ever

The average price of a new automobile reached a record-breaking $34,217 for October 2019. This extraordinary climb over the preceding report of $33,924, which changed into set in December 2018, suggests a constant increase in new vehicle transaction fees at the same time as sales extent continues to fall year over year. This begs the question of what’s driving these improved automobile prices?

According to J.D. Power and LMC Automotive, the extended average transaction charge has a lot to do with the motors customers choose. In October 2019 an staggering 72% of new car sales have been absolutely SUVs and Trucks. The market percentage of SUVs and vehicles is up 2.4% from October 2018 and suggests the continued decline in actual vehicle purchases.

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