The affordability of new vehicles in the United States improved last month due to a combination of lower prices and higher incomes, according to automotive services company Cox Automotive.
“The average price of new vehicles decreased by 2.2 percent” in January compared with December 2024, making cars cheaper for buyers last month, Cox said in a Feb. 17 statement. “Affordability was further supported by income growth, which increased by 3.6 percent year-over-year.”
