Wait, what? A new car now costs how much?

Talk about sticker shock: The average price for a new car in the United States is now a staggering $50,080. Kelley Blue Book calls that a new record, noting that new car prices have risen consistently for more than a year despite many dealers offering steep discounts. Kelley Blue Book cites several reasons, including tariffs, luxury vehicles and a rush of new electric vehicle buyers as shoppers rushed to claim a $7,500 EV tax credit before it expired at the end of September. The average EV sold for more than $58,000 last month. “Today’s auto market is being driven by wealthier households who have access to capital and good loan rates,” says Erin Keating, an executive analyst with Kelley Blue Book parent company Cox Automotive.