Where did all the cheap cars go? New research from Edmunds digs into the numbers to find out

A new study from Edmunds' executive director of insights Jessica Caldwell digs into the data behind the growing affordability issues for everyday consumers trying to buy new vehicles in today's market.

Leveraging Edmunds' transaction price data from March 2023, her study shines a spotlight on:

  • The disappearance of the $20,000 new vehicle in America
  • The rise of the $60,000 new vehicle
  • A major shift toward higher prices across larger vehicles (for example, 94% of large SUVs sold in March 2023 were over $60K compared to 54% just five years ago)
  • Growth in demand in the used market as more consumers get pushed out of the new market

Please find the full article here: www.edmunds.com/car-news/where-did-all-the-cheap-cars-go.html

About Edmunds
Edmunds guides car shoppers online from research to purchase. With in-depth reviews of every new vehicle, shopping tips from an in-house team of experts, plus a wealth of consumer and automotive market insights, Edmunds helps millions of shoppers each month select, price and buy a car with confidence. Regarded as one of America's best workplaces by Fortune, Great Place to Work and Built In, Edmunds is based in Santa Monica, California. Follow us on TikTok, Twitter, Facebook and Instagram.

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