The average price paid for a new vehicle in the United States hit a record $51,109 in October, topping $51,000 for the first time, according to Kelley Blue Book. The average transaction price rose $649, or 1.3%, from September’s revised $50,460, and was 2.1% higher than in October 2025, beating the previous record of $50,614 set in December 2025.
The average manufacturer’s suggested retail price climbed to $52,933 in October, up 1.4% from September and 2.4% from a year ago, Kelley Blue Book said in a release published November 10. The higher prices were driven by strong sales of expensive midsize and full-size SUVs and full-size pickup trucks, with the average sticker price for a full-size pickup now near $72,000.
Electric cars cost more still
The average transaction price for a new electric vehicle reached $56,220 in October, up 1% from September, according to coverage of the Kelley Blue Book report. Tesla’s average transaction price was $54,194. The midsize SUV segment, one of the market’s biggest, averaged $50,570, up 1.9% from a year earlier, and the five most expensive segments together accounted for 64.4% of all new-vehicle sales in October.
A modest rise, but a record all the same
Cox Automotive executive analyst Erin Keating noted that the 2.1% year-on-year increase is below the long-term rate of vehicle price inflation, and below overall inflation. Kelley Blue Book expects more records before the year is out, as prices usually climb toward December when the next model year arrives and holiday shoppers lean toward luxury vehicles, before easing in January. For buyers, the message is that waiting for a meaningful price drop remains a gamble.
Incentives are doing some of the work behind the record. Kelley Blue Book’s transaction price is an estimate of what buyers actually paid, including optional features and minus incentives such as dealer discounts, before taxes and fees. That means the $51,109 average already reflects whatever discounts dealers offered, and the underlying sticker prices are higher still, with the average MSRP at $52,933. The five most expensive segments — midsize and full-size SUVs and trucks among them — accounted for 64.4% of all new-vehicle sales in October, so the record is driven as much by what Americans choose to buy as by what each car costs.
