In the United States, the average selling price for a new light vehicle came to around 47,010 U.S. dollars in 2023. New light vehicles were about 1.6 percent more expensive in 2023 than in 2022.

What is the price of a new car in the U.S.?     New automobiles and light trucks were on average around 17,700 U.S. dollars more expensive than used light vehicles: the average selling price for used vehicles amounted to about 29,300 U.S. dollars in 2023. This increasing price gap between new and used vehicles is partly linked to the industry's recovery from the semiconductor shortage, which led to higher new vehicle inventory and reduced pressure on the used vehicle market.

The semiconductor shortage    The hike in prices across the board recorded in 2022 can be in parts attributed to the global automotive chip shortage, which started in 2021 as demand rebounded from the COVID-19 pandemic. The average price rise could be observed across segments, with new full-size SUV/crossover vehicles averaging 73,900 U.S. dollars as of December 2022.

Coupes and convertibles were the most expensive used car types in the United States as of February 2023, priced on average at around 49,800 and 46,700 U.S. dollars respectively. In contrast, used wagons and hatchbacks were more affordable, at an average of 20,000 and 24,200 U.S. dollars. The overall used vehicle average list price had been steadily rising between mid-year 2020 and mid-year 2022, but dipped in June 2023.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average (CUSR0000SETA02) from Jan 1953 to Feb 2025 about used, trucks, vehicles, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

In the first half of 2024, the average selling price of used vehicles came to around 28,300 U.S. dollars. In 2023, new automobiles and light trucks were on average almost 17,700 U.S. dollars more expensive than used light vehicles. The used car boom As the price for new vehicles has been increasing, more Americans are turning towards buying second-hand cars and light trucks. Buying new cars and light trucks is typically seen as a privilege that few may do often. Generally, used vehicle sales are on the rise in most countries. Thanks to ever-improving technology, automobiles may keep running for many years and remain in good condition. This allows the average age of light vehicles in operation in the United States to increase slowly. Although new cars are often seen as status symbols, vintage cars are also very popular in the United States, the main reason for this trend being aesthetic and cultural values.

Switzerland had the highest price tags on new passenger cars sold in 2020, overtaking Norway for the first time in five years. Swiss people had to dig deeper into their pockets than any of their European neighbors, with prices roughly 15,000 euros higher than the EU-28 average. Reasons for automobiles being so costly in Switzerland are partly due to tax rates, which are set by each canton based on a set of varying criteria including but not limited to vehicle weight, powertrain, and CO2 emissions. These incentives contribute to making larger, heavier vehicles using petrol and diesel engines more expensive. The only vehicles exempt from taxes in selected cantons were electric cars. Electric vehicles are extremely popular in Norway, second in the ranking in terms of average vehicle price, in parts due to the VAT and tolls exemptions for electric vehicles in the country. Norwegian buyers are able to spend more on high-tech models.

Car tax rates in Nordic countries higher on average
Other European countries with a 25 percent tax rate on acquisition are Croatia, Denmark and Sweden, while those in Hungary even exceeded Norwegian rates by two percent. As seen in this statistic higher tax rates on passenger cars translates to higher prices overall. Sweden and Denmark both appeared in the top seven most expensive car buying countries. Hence, in terms of volume of new car registrations, Northern European countries trailed behind not only their more populous neighbors, but also other smaller countries where tax rates were lower.

Prices for passenger cars to stay stable
Prices for passenger cars were forecast to stay relatively stable in the next three years, with only slight increases expected. Luxury cars were the only group where price change was estimated to be more prominent.

Graph and download economic data for Consumer Price Index for All Urban Consumers: New Vehicles in U.S. City Average from Jan 1953 to Jan 2025 about vehicles, urban, new, consumer, CPI, inflation, price index, indexes, price, and USA.

As of June 2023, a used car cost on average 23,750 euros in the Portuguese market. This was a year-over-year price inflation of around 8.45 percent compared to the average recorded at mid-year in 2022, despite prices stabilizing in the fourth quarter of 2022.

The average list price for used vehicles in the United States reached some 27,300 U.S. dollars in June 2023. This was a year-on-year decrease of around 2.8 percent of the June 2022 average, which stood at under 28,100 U.S. dollars. Used cars recorded an overall increase in prices and a decrease in more affordable stocks as a consequence of the global chip shortage which put the automotive industry at a standstill, affecting the production of new vehicles.

Car manufacturing is one of the core industries of the German economy. Prices for new cars fluctuated somewhat during the specified time period, but generally grew. Most recently a new car cost 44,630 euros on average.

Global reputation

Germany is home to some of the most recognized and purchased automobile brands in the world. These brands are sold internationally and have enjoyed long-standing success. Based on new car registration figures, Volkswagen had the highest market share compared to other names. Mercedes and Audi made up the top three. Volkswagen also bought other car brands in recent years, among them Porsche. The leading car models among German new car buyers were from Volkswagen. Consumers particularly favored the VW Golf, the VW T-Roc and the VW Tiguan.

New car market future

In 2023, the most new passenger cars registered in Germany by far were produced domestically. Other leading production countries included Japan and South Korea, and Czechia in the European Union. The industry is still recovering from the effects of halted production during the coronavirus (COVID-19) pandemic, as well as facing challenges due to the energy and supply crisis following the beginning of the Russia-Ukraine war in February 2022.

China Automobile Price: DM: Passenger Car (PC) data was reported at 127,000.000 RMB/Unit in Aug 2023. This records a decrease from the previous number of 127,500.000 RMB/Unit for Jul 2023. China Automobile Price: DM: Passenger Car (PC) data is updated monthly, averaging 106,652.000 RMB/Unit from Jan 2007 (Median) to Aug 2023, with 196 observations. The data reached an all-time high of 128,800.000 RMB/Unit in Mar 2023 and a record low of 102,200.000 RMB/Unit in Nov 2012. China Automobile Price: DM: Passenger Car (PC) data remains active status in CEIC and is reported by Price Monitoring Center, NDRC. The data is categorized under China Premium Database’s Price – Table CN.PB: Price Monitoring Center, NDRC: Automobile Price.

China Automobile Price Index: CAI: Domestic Made: Passenger Car (PC) data was reported at 57.200 Jan2004=100 in Jun 2018. This records a decrease from the previous number of 57.600 Jan2004=100 for May 2018. China Automobile Price Index: CAI: Domestic Made: Passenger Car (PC) data is updated monthly, averaging 71.050 Jan2004=100 from Jan 2004 (Median) to Jun 2018, with 174 observations. The data reached an all-time high of 100.000 Jan2004=100 in Jan 2004 and a record low of 57.200 Jan2004=100 in Jun 2018. China Automobile Price Index: CAI: Domestic Made: Passenger Car (PC) data remains active status in CEIC and is reported by China Auto Index. The data is categorized under China Premium Database’s Price – Table CN.PB: China Auto Index: Automobile Price Index (Discontinued).

Graph and download economic data for Consumer Price Index for All Urban Consumers: New and Used Motor Vehicles in U.S. City Average (CUSR0000SETA) from Jan 1993 to Feb 2025 about used, vehicles, urban, new, consumer, CPI, inflation, price index, indexes, price, and USA.

United States Motor Vehicle Sales: Average Price: Used Vehicle data was reported at 8,786.000 USD in 2010. This records an increase from the previous number of 8,483.000 USD for 2009. United States Motor Vehicle Sales: Average Price: Used Vehicle data is updated yearly, averaging 8,130.000 USD from Dec 1990 (Median) to 2010, with 21 observations. The data reached an all-time high of 8,786.000 USD in 2010 and a record low of 5,857.000 USD in 1990. United States Motor Vehicle Sales: Average Price: Used Vehicle data remains active status in CEIC and is reported by Bureau of Transportation Statistics. The data is categorized under Global Database’s United States – Table US.RA004: Motor Vehicle Sales: Average Price.

United States Motor Vehicle Sales: Average Price data was reported at 13,105.000 USD in 2010. This records an increase from the previous number of 12,518.000 USD for 2009. United States Motor Vehicle Sales: Average Price data is updated yearly, averaging 12,098.000 USD from Dec 1990 (Median) to 2010, with 21 observations. The data reached an all-time high of 13,451.000 USD in 2007 and a record low of 8,691.000 USD in 1990. United States Motor Vehicle Sales: Average Price data remains active status in CEIC and is reported by Bureau of Transportation Statistics. The data is categorized under Global Database’s United States – Table US.RA004: Motor Vehicle Sales: Average Price.

The statistic represents the average price of new and used passenger cars sold and leased in the United States between 1990 and 2010. In 2000, a new vehicle had an average price of 21,850 U.S. dollars.

Turkey: Vehicle prices, world average = 100: The latest value from 2021 is 167.48 index points, an increase from 112.71 index points in 2017. In comparison, the world average is 108.07 index points, based on data from 165 countries. Historically, the average for Turkey from 2017 to 2021 is 140.1 index points. The minimum value, 112.71 index points, was reached in 2017 while the maximum of 167.48 index points was recorded in 2021.

Used car prices have been increasing across all vehicle age groups in Spain between 2021 and 2022, with used cars between 10 and 15 years old recording the steepest price inflation. This age group's average price was up 58.2 percent year-over-year, reaching around 7,900 euros in 2022. In contrast, cars between one and three years old reported a slower inflation, costing approximately 21,574 euros in 2022—23.3 percent more than in 2021.

In July 2024, the average passenger car import price amounted to $23,922 per unit, approximately reflecting the previous month.

The average passenger car import price stood at $23,976 per unit in July 2024, picking up by 4.6% against the previous month.

The average passenger car import price stood at $600K per unit in March 2023, dropping by -14.3% against the previous month.