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Chart of the Day: Record Car Prices

chart shows average US car prices from 2016 - 2023

Contents

Today’s Chart of the Day is from a CNBC article titled, “With just 8% of new vehicles costing under $30,000, ‘it’s the least affordable car market in modern history,' expert says.” It goes on to say, “With fully loaded SUVs and trucks in high demand, carmakers continue to upgrade their lineups and scale back on less-expensive cars.” However, when there is demand there will be supply, so expect to see more “budget" cars in the future.