New cars now cost more than half of a typical salary

For decades, a new car was a standard milestone of middle-class life, but that door is rapidly closing. By 2026, the average price for a new vehicle climbed toward $50,000, meaning a single car now consumes 40 percent of a typical household's discretionary income. This shift has fundamentally changed who sits in the driver's seat; the portion of buyers earning under $100,000 has plummeted from half the market to barely over a third in just six years.