September 12, 2022 – The average price paid for a new vehicle in the U.S. in August topped July’s record and kept the average transaction price (ATP) solidly above the $48,000 mark, according to new data released today by Kelley Blue Book, a Cox Automotive company.
The Kelley Blue Book new-vehicle ATP increased to $48,301 in August 2022, beating the previous high of $48,080 set in the prior month. August 2022 prices rose 0.5% ($222) month over month from July, and 10.8% ($4,712) year over year from August 2021.
New-vehicle inventory days’ supply held steady in the mid-to-high 30s during the summer and is showing signs of increasing. In August, days’ supply was 43% higher than it was in the same timeframe of 2021, when inventory shortages first started to impact the market.