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New car prices hit a record high of $47,077 in December



Average transaction price of new car in the U.S. grew by nearly 14% in December year over year, thanks to strong sales of luxury car, automotive industry consulting firm Kelley Blue Book said in a report Tuesday.

Prices hit a record high of $47,077 last month, the report said, as new car inventories remained tight due to good consumer demand.

Luxury car sales, which accounted for 18.4% of total sales in December, typically increase in the last two months of the year, pushing average prices higher, according to the report.

The US auto industry has been hit hard by global semiconductor shortages and supply chain difficulties, causing low inventories and soaring prices amid rising consumer demand. strong.

For each of the past six months, the average price paid by consumers was higher than the manufacturer’s suggested retail price (MSRP) as agency continue to hold prices at or above MSRP, according to automotive consultants.

Meanwhile, the average price for a new luxury vehicle is $43,072, slightly below the record high set in November.

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