The average price of a new automobile sold in America in June was $48,043, according to Kelly Blue Book, a Cox Automotive company. This is the highest average price ever and the first time it has been above the $48,000 mark. The average for June was 1.8% higher than May's and 12.7% higher than it was a year earlier.
What To Know: Benzinga’s Money Mitch had the opportunity to catch up with Cox Automotive Senior Director of Automotive Relations Michelle Krebs to discuss her thoughts on the inflationary pressures on the new and used vehicle markets.
