Affordability Crisis: The Vanishing Sub-$25K Models And The Surge Of $60K-Plus New Cars | Carscoops carscoops
. Sales of vehicles with an MSRP of more than $60,000 – higher than the average American’s annual income – rose by 163 percent, meanwhile.pick from 36 models with MSRPs lower than $25,000, and these models accounted for nearly 13 percent of all new vehicle sales. In 2022, that number has fallen to just 10 models for buyers to pick from.
In the same timeframe, the options for buyers looking at vehicles with an MSRP of more than $60,000 have exploded. In 2017, there were 61 models that cost more than that, but they totaled for just 122,864 sales in the month of December.Five years later, there are 90 unique models whose MSRP is more than $60,000 and, with sales of more than 323,368 in the last month of the year, they accounted for more than a quarter of all new vehicle sales.
Indeed, the last five years have been marked by attempts to drag automotive brands upmarket, with everyone to Buick to Jeep selling larger vehicles with more luxurious amenities and tech. While that makes for some exciting new models, it has also led the market to become increasingly unaffordable.
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