NEW CARS SOLD

(units in millions)

In October 2024, 1.31 million new vehicles were estimated to have been sold across the United States. This marks a 10.0% increase over September and a 7.9% increase compared to October 2023. Growth was initially expected at 8.0% over September, but hurricanes Helene and Milton likely pushed September purchases into October. Consumers are on pace to purchase 16.0 million new cars this year.

AVERAGE NEW VEHICLE PRICES

Cars continue to be more expensive and less affordable. In October 2024, the average price of a new car was $48,623, a 0.4% increase over September and a 1.7% increase over October 2023.