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Average new car price rises to record $49,507 in December: Chart

Yahoo Finance Video

Yahoo Finance Live’s Rachelle Akuffo breaks down the chart of the day, showing the rise in the average new car transaction.

Video transcript

RACHELLE AKUFFO: Time now for our Chart of the Day. And if you're a US car buyer, it's not just the paint job that's pricey. The average transaction price for new vehicles rose to a record $49,507 in December of last year. And while, of course, some of the blame comes from a lack of inventory early on in the pandemic, creating a lagging effect, rising interest rates also giving prices a bit of gas as well.

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