New vehicle average selling price in the U.S. 2016 - 2022
What is the price of a new car in the U.S.?
New automobiles and light trucks were on average almost 15,600 U.S. dollars more expensive than used light vehicles: the average selling price for used vehicles amounted to about 30,700 U.S. dollars in 2022. This decreasing price gap between new and used vehicles is directly related to the overall price inflation and to a lack of new vehicle inventory at dealerships, brought on by the global automotive semiconductor shortage.
The semiconductor shortage
The hike in prices across the board can be in parts attributed to the global automotive chip shortage, which started in 2021 as demand rebounded from the COVID-19 pandemic. The average price rise could be observed across segments, with new full-size SUV/crossover vehicles averaging 73,900 U.S. dollars as of December 2022.