U.S. New Car Prices Hit $47,000 as Budget Models Vanish

The automotive industry in the United States is currently grappling with a severe affordability crisis that threatens to relegate a growing number of Americans to the used-car market. While political figures debate the impact of environmental regulations and tariffs, a review of industry data suggests a more market-driven cause: automakers have significantly reduced their offerings of budget models in favor of larger, more expensive, and more profitable upscale vehicles. This strategic shift has pushed the average transaction price for a new vehicle to approximately $47,000.