Rising incomes and falling prices made EVs more affordable than they had been in months in September, but new cars are still too expensive for the average buyer
Over the last three years, articles about vehicle prices have sounded like a broken record: everything keeps getting more expensive. However, today we're singing an altered, if not entirely new, tune. Although most vehicles remain expensive, used and electric ones are becoming more budget-friendly. Thanks to median household incomes that rose by 3.7 percent over the last year, and used vehicles prices that fell by 5.
New vehicles in general keep becoming less and less affordable. Credit: iSeeCars “With the average new car price rising from $46,551 to $49,499, plus the big interest rate hikes we’ve seen over the past year, new cars are less affordable for consumers today compared to last year,” said Karl Brauer, iSeeCars' executive analyst.
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