Here’s how much the gap between US income and car prices has grown in 55 years
Garun.prdt/Shutterstock The average price of a new car in 1970 was $3,543. Don’t get too excited. Thanks to inflation, this actually means $31,411.13 (those 13 cents are pretty significant). But compare that to 2025, when the average price surpassed $50,000 for the first time. Or last week