Latest NADA Data report
Selling Price
In 2024, the average retail price of a new automobile was just over $47,650.
Auto Industry Statistics - New Car Buying
BUY OR
“LEASE”?
More Sales from More Dealerships
Over 15.9 million new vehicles were purchased or leased from nearly 17,000 franchised dealers.
Cars vs Trucks
Nearly 3 million new cars (18.7%) and over 12.9 million light-duty trucks (81.3%) were purchased or leased.
Aging Used Car Market
The average age of all passenger cars and light-duty trucks owned is around 12.6 years old.
At year-end, there were around 296.6 million vehicles registered and in operation in the U.S.
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Dealer Profits
“F&I Products” account for almost 40% of a dealer’s gross profits from their new and used vehicle departments.
Add-On Sales
Approximately 37%-40% of all new vehicle buyers purchase an “Extended Warranty”.