Car prices are still hovering near all-time highs, but one of the main reasons is that automakers are stacking their lineups with high-end vehicles.
As of August, the share of new cars sold over $50,000 was almost double what it was in 2019, according to Cox Automotive. There were about 33 models for sale with a manufacturer’s suggested retail price, or MSRP, above $100,000 and 18 below $30,000.
Wealthier customers have been boosted by rising house values, stock market returns and favorable credit, while lower- and middle-income buyers find themselves locked out.
Why the rich are propping up car sales
