- The average new car buyer in America paid $51,109 in October – a new record.
- Sales of inexpensive compact cars and SUVs are rising, but not enough to offset sales of pricey full-size trucks.
Americans have never paid this much for new cars. We don’t have to – there’s a lot of consumer choice feeding into this number. But in October, the average American new car buyer paid a record $51,109, according to Kelley Blue Book data. That figure tops the prior record of $50,614 set last December.
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Transaction prices tend to peak in December, as higher-priced vehicles from the next model year take over sales lots and Americans buy more luxury cars near the holidays. So, we anticipate further records in November and December. Prices often drop in January.
Growth at the High and Low Ends Raises the Average
- Sales of less-expensive models are soaring, but so are sales of luxury pickups.
The phrase “K-shaped economy” has gained cultural grip in 2026, and few things show its meaning like the car market.
On the top arm of the imaginary chart, high-end buyers are driving prices up as they seek out expensive pickup trucks. Automakers generally don’t sell pickups with luxury brand badges. But they do sell extremely well-equipped trucks that share badges with everyday work trucks. Those are quite popular in 2026.
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Nearly every full-size truck on the market is available in the mid-$40,000 range, but the average truck buyer paid $67,912 last month. That’s up 1.4% year over year.
But, with high gas prices and inflation across their budgets, many American families are seeking lower prices on the bottom arm of that K. Sales of compact SUVs (with their average price under $38,000) and compact cars (under $30,000) have grown faster than any other segment of the market.
The five highest-volume new-vehicle segments in October, which accounted for 64.4% of all vehicle sales, were:
1. Midsize SUV: ATP of $50,570, up 1.9% year over year.
2. Compact SUV: ATP of $37,895, up 4.3% year over year.
3. Full-size pickup truck: ATP of $67,912, up 1.4% year over year.
4. Subcompact SUV: ATP of $31,333, up 1.9% year over year.
5. Compact car: ATP of $28,030, up 3.4% year over year.
Discounts made up just 6.8% of the average sale. Prior to the COVID-19 pandemic, discounts over 10% were relatively common. Those discounts have never fully returned to the market.
EV Prices Edge Up
- Electric vehicles (EVs) have seen their prices fall for most of 2026, but that trend reversed in October.
Last month, the average transaction price for a new EV was $56,220, up 1% from September. New EV prices, however, were lower year over year by 2.7%.
Dealers continue to heavily discount EVs, with incentives accounting for 11.3% of the average sale price.
