Sales data published by Kelley Blue Book show that new car prices skyrocketed in November to a new all-time high. Electric vehicles were the most affected, with new EV prices landing in the luxury car territory. This pushed the price-parity dream even further, hindering decarbonization efforts.
The average new car sold in November cost $48,681, a new all-time high. That’s $422 more than the average price in October and $2,250 higher than one year ago. Kelley Blue Book (KBB) shows that the average buyer has paid more than the manufacturer’s suggested retail price (MSRP) every month since July 2021. The sad part is that KBB doesn’t see the prices coming down anytime soon.
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