Graph and download economic data for Consumer Price Index for All Urban Consumers: New Vehicles in U.S. City Average (CUUR0000SETA01) from Mar 1947 to Jan 2025 about vehicles, urban, new, consumer, CPI, inflation, price index, indexes, price, and USA.

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.

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.

United States - Consumer Price Index for All Urban Consumers: New Cars and Trucks in U.S. City Average was 112.04000 Index Dec 1997=100 in July of 2021, according to the United States Federal Reserve. Historically, United States - Consumer Price Index for All Urban Consumers: New Cars and Trucks in U.S. City Average reached a record high of 112.04000 in July of 2021 and a record low of 92.06600 in July of 2008. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Consumer Price Index for All Urban Consumers: New Cars and Trucks in U.S. City Average - last updated from the United States Federal Reserve on March of 2025.

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.

This statistic shows the Consumer Price Index (CPI) for new car purchases in the United Kingdom (UK) as an annual average from 2008 to 2023, where the year 2015 equals 100. In 2023, the annual average price index value of new car purchases was measured at 132.6, the highest recorded over the period in consideration.

United States - Producer Price Index by Industry: New Car Dealers: Vehicle Sales was 72.92400 Index Dec 1999=100 in February of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: New Car Dealers: Vehicle Sales reached a record high of 201.85900 in June of 2022 and a record low of 61.20000 in April of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: New Car Dealers: Vehicle Sales - last updated from the United States Federal Reserve on March of 2025.

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.

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 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.

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).

Sales of used light vehicles in the United States came to around 38.9 million units in the third quarter of 2024. The same period, approximately 15.6 million new light trucks and automobiles were sold here. Declining availability of vehicles In the fourth quarter of 2023, about 288.5 million vehicles were in operation in the United States, an increase of under one percent year-over-year. The rising demand for vehicles paired with an overall price inflation lead to a rise in new vehicle prices. In contrast, used vehicle prices slightly decreased. E-commerce: a solution for the bumpy road ahead? Financial reports have revealed how the outbreak of the coronavirus pandemic has triggered a shift in vehicle-buying behavior. With many consumer goods and services now bought online due to COVID-19, the automobile industry has also started to digitally integrate its services online to reach consumers with a preference for contactless test driving amid the global crisis. Several dealers and automobile companies had already begun to tap into online car sales before the pandemic, some of them being Carvana and Tesla.

The U.S. auto industry sold nearly three million cars in 2024. That year, total car and light truck sales were approximately 15.9 million in the United States. U.S. vehicle sales peaked in 2016 at roughly 17.5 million units. Pandemic impact The COVID-19 pandemic deeply impacted the U.S. automotive market, accelerating the global automotive semiconductor shortage and leading to a drop in demand during the first months of 2020. However, as demand rebounded, new vehicle supply could not keep up with the market. U.S. inventory-to-sales ratio dropped to its lowest point in February 2022, as Russia's war on Ukraine lead to gasoline price hikes. During that same period, inflation also impacted new and used car prices, pricing many U.S. consumers out of a market with increasingly lower car stocks. Focus on fuel economy The U.S. auto industry had one of its worst years in 1982 when customers were beginning to feel the effects of the 1973 oil crisis and the energy crisis of 1979. Since light trucks would often be considered less fuel-efficient, cars accounted for about 77 percent of light vehicle sales back then. Thanks to improved fuel economy for light trucks and cheaper gas prices, this picture had completely changed in 2020. That year, prices for Brent oil dropped to just over 40 U.S. dollars per barrel. The decline occurred in tandem with lower gasoline prices, which came to about 2.17 U.S. dollars per gallon in 2020 - and cars only accounted for less than one-fourth of light vehicle sales that year. Four years on, prices are dropping again, after being the highest on record since 1990 in 2022.

United States - Consumer Price Index for All Urban Consumers: New Vehicles in U.S. City Average was 168.05600 Index 1982-84=100 in March of 2022, according to the United States Federal Reserve. Historically, United States - Consumer Price Index for All Urban Consumers: New Vehicles in U.S. City Average reached a record high of 168.05600 in March of 2022 and a record low of 33.30000 in March of 1947. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Consumer Price Index for All Urban Consumers: New Vehicles in U.S. City Average - last updated from the United States Federal Reserve on March of 2025.

Used Car Prices YoY in the United States decreased to 0.10 percent in February from 0.80 percent in January of 2025. This dataset includes a chart with historical data for the United States Used Car Prices YoY.

United States - Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average was 187.05700 Index 1982-84=100 in February of 2025, according to the United States Federal Reserve. Historically, United States - Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average reached a record high of 216.87600 in February of 2022 and a record low of 20.00000 in March of 1956. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Consumer Price Index for All Urban Consumers: Used Cars and Trucks in U.S. City Average - last updated from the United States Federal Reserve on March of 2025.

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.

Graph and download economic data for Producer Price Index by Industry: New Car Dealers (PCU441110441110) from Dec 1999 to Feb 2025 about dealers, vehicles, new, PPI, industry, inflation, price index, indexes, price, and USA.

European Union - Harmonised index of consumer prices (HICP): New motor cars was 126.99 points in February of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for European Union - Harmonised index of consumer prices (HICP): New motor cars - last updated from the EUROSTAT on March of 2025. Historically, European Union - Harmonised index of consumer prices (HICP): New motor cars reached a record high of 127.05 points in January of 2025 and a record low of 100.00 points in December of 2016.

The average price in the 'Luxury Cars' segment of the passenger cars market in the United States was forecast to increase between 2025 and 2029 by in total 270.9 U.S. dollars (+0.34 percent). This overall increase does not happen continuously, notably not in 2027 and 2028. The average price is estimated to amount to 81,132.58 U.S. dollars in 2029. Find further information concerning revenue in the United States and volume in the United Arab Emirates. The Statista Market Insights cover a broad range of additional markets.