Kelley Blue Book, which is about as reliable a source as you can have for tracking vehicle pricing, says September was a watershed moment for new-vehicle pricing. It claims that, for the first time, the median price of a new car in the United States is over $50,000. And yes, the higher cost of EVs and the rapid uptick in EV purchases are to blame.That more EVs selling does drive up the average selling price of cars doesn’t automatically equate to all car prices having gone up. For instance, looking online I found the price for a new 2025 Honda Civic Sedan is $24,250 (MSRP), less than half the price of the average EV ($58,124).
This finding isn’t sudden, though. EV sales have been on the rise for months, and the average cost of an EV hasn’t risen dramatically. The average EV selling price ($58,124) was up 3.5 percent in September when compared to August, but it’s considered a “normal” inflation rate. Year over year, EV pricing is essentially flat, Kelley Blue Book says. The average price for a new vehicle is $50,800.
I was curious to see what it would cost me to replace my 2014 RAM 1500 Express with it’s present day equivalent and I found the MSRP is $77,550, more than three times what I paid for my present pickup in 2017 ($24,150). In 2017 the MSRP for a new one was somewhere around $27,500. The price has more than doubled in 8 years. I know my pay hasn’t gone up anywhere near that over the same period of time. However, the present day price isn’t nearly as high as what I saw almost 2 years ago when I saw some listed for over $90,000! I had a local dealer here in New Hampshire offer me what I paid for my 2014 RAM when the market for used vehicles was hot. At the time it had less than 100,000 miles on it and was (and still is) in good shape.
As such, I will be doing my utmost to keep the trusty RAM 1500 in good shape as it will cost me far less to do so than to buy a new one. In fact, it will be going into the body shop early next month to have the last of the rust taken care of (both front fenders) before it gets undercoated prior to winter. I aim to make it last at least another nine years.
I understand that tariffs are having an effect on some new vehicle prices, so rising prices of some vehicles make sense. (The Honda Civic Sedan I mentioned above is manufactured in the US as are most of the parts used to make it.)
It will be interesting to see how the new and used car markets will be like going forward. I expect new car sales might flatten though used car sales may rise, much as happened a few years ago.