Car Prices Oh My 7/22/26

Summary

CNBC's 60-second money minute covers how car prices have soared over the past five years, with data from Cox Automotive showing nearly half of new vehicles now cost over $50,000. The rise is attributed to increased hybrid sales and consumers opting for bundled safety features. The segment ends with a tip from money expert Clark Howard to consider buying 2-3 year old used cars to avoid initial depreciation.

• Car prices have risen significantly over the past five years.
• Cox Automotive data shows the share of new vehicles sold above $50,000 grew from 31% to 49%.
• Two main drivers: higher-priced hybrid popularity and consumers adding safety feature packages.
• Clark Howard advises buying 2-3 year old used cars to avoid the steepest depreciation.