Average price of new car hits record

The average transaction price for a new vehicle set a record of $31,252 in August, according to TrueCar.com, up 3.2% from a year ago.

The new high is up 0.5%, or $164, from July, the auto data research and shopping site reports.

The record was powered by five car companies that each had record prices in the month: Chrysler, Ford, Honda, Nissan and Volkswagen.

TrueCar's transaction price is meant to include everything – price of the vehicle, discounts, add-ons, taxes and license fees – all the amounts that total to the out-the-door price. Read more >>