The average transaction price for a new vehicle in July 2024 was $48,401, about $10,000 higher than pre-pandemic levels, reflecting soaring market prices.
A study by S&P Global Mobility indicates the average vehicle on American roads is now 12.6 years old, highlighting a trend of Americans holding onto cars longer.
In 2023, new vehicle sales improved by over 12% to 15.5 million but remain significantly below the peak of 17.5 million seen in 2016.
The Ford-Series pickup remains America's best-selling vehicle for 42 years, dominating sales in 21 states while other models include the Chevrolet Silverado and Ram.
Collection
[
|
...
]