Why New Cars Now Cost $50,000 on Average in the US: QuickTake

With affordability top of mind for US voters as November’s midterm elections approach, Republicans have been focusing attention on one of the most visible pain points for consumers: the price of a new car. The average figure broke $50,000 for the first time last September and hit $50,326 in December, according to the Kelley Blue Book car buying guide. Researcher Edmunds.com calculates that the average has risen 61% since 2010.

While incomes have grown over that period, too, they haven’t kept up. It took 36.2 weeks of average household income in the US to buy a new car at the ...