Americans Paying More for New Vehicles, Partly Because of Full-Size Pickups

Tariffs also played a role as the average price of a new car sold rose 3.4 percent from a year ago.

Ford and Lincoln vehicles for sale at a dealership in Glendale, Calif., on Aug. 21, 2024. Mario Tama/Getty Images

American car buyers paid 3.4 percent more for new vehicles last month compared with last year, partly because buyers are choosing more high-end vehicles, Kelley Blue Book revealed in a report March 11.

“That’s a more significant increase than we’re used to seeing,” Sean Tucker at Kelley Blue Book said.