Bestselling cars in Mississippi [Video]

As luxury-brand vehicles continue to swell the market, the average price for a new car in the U.S. has modestly declined, signaling an increased desire for consumer affordability after average vehicle prices hit record highs in 2022.

Only 9 out of 275 new car models had an average transaction price below $25,000 in February 2024, according to Kelley Blue Book. This is a sharp contrast to three years ago when 29 different vehicles routinely held average transaction prices below that benchmark. Affordability will be key to first-time buyers as auto loan interest rates and car insurance costs remain high.

Electric vehicles have also continued to gain popularity across the U.S. in 2023. The Tesla Model Y was the bestselling vehicle in seven states last year while EV sales grew 60% in the United States from …