New-vehicle prices crossed $50,000 in April, with a more expensive inventory mix hitting dealer lots. CarGurus April Intelligence Report noted a spike in new vehicle prices, along with soaring demand for hybrids and positive gains in performance by Stellantis brands.
New vehicle prices spike, demand drops: At the end of April, new vehicle prices hit $50,400, their highest point since August 2024, and 1% increase year-over-year.
“The increase is largely related to the underlying skew of inventory, with $70,000-plus listings gaining share while sub-$60,000 listings share shrank 2% YOY. Fewer affordable vehicles in the mix keep pulling the overall average higher.”
New-vehicle sales demand slumped 8% compared to April 2025, when expected tariffs were fueling sales ahead of price increases. But demand has been trending downward since late 2025.
“April 2026 is the seventh straight month of retail YoY declines, so the affordability pressure is real,” Roberts said.
Hybrid demand surges: With fuel prices topping $4.50 nationwide due to the conflict in the Middle East, hybrid vehicles are in demand in the new and used markets. Used hybrid sales, for one, are up 29% YOY, and new hybrids are at their highest demand, more than double new EVs.
Roberts pointed out that hybrids are popular with consumers right now due to a lower price than EVs and the familiarity of the vehicle, with no need to charge, unlike EVs. New hybrids are an average of $47,000, with new EVs at $57,000.
“That's a $10,000 spread, and with the average new vehicle just crossing $50,000, it matters when buyers are already stretched on monthly payments,” Roberts said.
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On the other hand: Used vehicle prices surpassed $29,700, nearing the $30,000 mark for the first time since August 2023. CarGurus noted the mix in inventory has trended to more expensive vehicles, with listings under $20,000 down 8% YOY.
Days on the market slowed from March’s 39.2 days to 42.6 days in April, which comes as the used market has seen a minor surge in demand for newer models, two years or newer.
“We've been seeing an uptick in demand for nearly new used vehicles, likely due to consumers who have been priced out of the new market. We noted in Q1 that the median price of these nearly new vehicles is around $30,000, which presents an attractive price point for consumers who might have sticker shock in the new vehicle market,” Roberts said.
Stellantis posts solid performance: Stellantis had the market’s largest YOY increase in listings, while also posting the largest decrease in days on the market.
“At the model level, the listing growth is concentrated in a few high-volume nameplates: Jeep Cherokee and Jeep Wrangler on the Jeep side, and RAM 1500 on the RAM side,” Roberts said. “Those three are doing most of the work behind the OEM-level listing increase. Considering days on market, the biggest improvements came from the Jeep Grand Wagoneer and Dodge Durango, with the RAM 1500 and 3500 also turning faster than a year ago.”
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