The average transaction price of a new vehicle in the U.S. in July reached a record $41,044, according to The Car Connection. The previous high was $39,942 in June. “Too few vehicles in inventory mean the sales pace in July is well below the levels seen earlier this year,” said J.D. Power’s Thomas King. “Conversely, the lack of inventory is driving the price of the vehicles to record highs as manufacturers and retailers continue to dial back discounts.” (Source: The Car Connection) Read the original article.
