Average price of new light vehicles in US hit high in 2016; driven up by trucks; cars moving in opposite direction

By mmillikin The average price of a new light vehicle (including both cars and light trucks) was up to a record $31,790 in 2016, up from the most recent low of $28,243 in 2008. However, the price increase is driven by light trucks, with the $35,289 average truck price for 2016 beaten only by the $35,997 average in 2015, according to data gathered by the US Department of Energy (DOE).

Twenty years ago, prices for cars and light trucks were similar, but car prices have steadily decreased while truck prices have increased. The average price for cars in 2016 was $25,774—similar

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