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new vehicle

A collection of 4 posts

Only 8% of new vehicles cost less than $30,000, down from 38% since pre-pandemic levels

Per CNBC Buying a car has become extremely expensive as now only 8% of new vehicles cost less than $30,000, down from 38% during pre-pandemic levels, according to CoPilot. This means that the car market is at record low affordability. CoPilot CEO Pat Ryan gave a statement regarding the

Average age of US passenger vehicles on the road raches 12.5 years after its sixth year of increase

Per S&P Global Mobility It was recently reported that the average age of vehicles in the US that were still operational has increased for the sixth year in a row. Now, that average sits at 12.5 years. The country reportedly has over 284 million vehicles in operation

Kelley Blue Book says average new car monthly payments almost doubled from 2019 to a record $777

Per Bloomberg Recently, it was revealed that new vehicle average prices have increased by 30% since 2019, costing buyers almost $50,000. Now, Kelly Blue Book says that the average new car monthly payments almost doubled from 2019, reaching a record $777. Aside from the prices of new vehicles increasing,

New vehicle average prices have jumped 30% since 2019 to almost $50,000

Per Bloomberg Aside from real estate, Americans are also struggling to purchase cars as new data has revealed that the average prices for new vehicles have increased 30% since pre-pandemic 2019 levels, per JPMorgan. Now, a new vehicle's average price will cost US buyers almost $50,000. The