The average price of a new vehicle in the United States has reached a record high of $51,109, according to the latest data from Kelley Blue Book. This figure is a 1.3 percent increase from September and a 2.1 percent increase from the same time last year.
Larger, more expensive SUVs and pickup trucks are contributing to the industry average reaching a new high. The average manufacturer’s suggested retail price also climbed in October, reaching $52,933.
SUVs and Pickup Trucks Are Pushing Prices Higher
Mid-size SUVs took the top spot among the industry’s highest-volume vehicle segments in October, with an average transaction price of $50,570. Full-size pickup trucks were considerably more expensive, averaging $67,912, a 1.4 percent annual increase.
Compact SUVs averaged $37,895, up 4.3 percent year over year, while subcompact SUVs came in at $31,333, an increase of 1.9 percent. Compact cars remained among the most affordable options, with an average transaction price of $28,030, up 3.4 percent from October 2025.
EV Prices Are Still Falling Year Over Year
Electric vehicles followed a slightly different trend in October, with the average transaction price reaching $56,220, up 1 percent from September. However, this represents a 2.7 percent decrease from the average EV transaction price in October 2025.
EV buyers are also getting better incentives than shoppers buying conventional vehicles, with discounts and other incentives averaging 11.3 percent of EV transaction prices in October. Tesla’s average transaction price was $54,194 in October, down from September but still 1.2 percent higher than a year ago.
The affordability of new vehicles remains a major challenge for the automotive industry.
