Cars are expensive. That's not exactly news. What is news, though, is that the average price of a new vehicle in the United States has officially topped $51,000 for the first time, setting an all-time record.

According to the latest data from Kelley Blue Book, the average transaction price (ATP) for a new vehicle reached $51,109 in October 2026. That's $649 more than September, a 1.3 percent increase month over month and 2.1 percent higher than the same time last year.

While that annual increase is relatively modest by historical standards, the growing popularity of larger, more expensive SUVs and pickup trucks helped push the industry average to a new high.

The average manufacturer's suggested retail price (MSRP) also climbed in October, reaching $52,933. That's 1.4 percent higher than September and 2.4 percent above October 2025.

A big part of the reason for the record-high average comes down to what Americans are buying. Shoppers continue to gravitate toward larger, more expensive vehicles, particularly mid-size SUVs and full-size pickup trucks.

Mid-size SUVs took the top spot among the industry's highest-volume vehicle segments in October, overtaking compact SUVs, which held the position in September. Sales volume for the segment also jumped nearly 10 percent year over year.

According to Kelley Blue Book, the average transaction price for a mid-size SUV reached $50,570 in October, up 1.9 percent from a year earlier. Full-size pickup trucks were considerably more expensive, averaging $67,912, a 1.4 percent annual increase.

9 percent. Compact cars remained among the most affordable options, with an average transaction price of $28,030.

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