Average car prices up $12,000 in past five years

New data shows it's never been as hard to buy a car in the United States as it is today.

COLUMBIA, S.C. (WOLO)–New data shows it’s never been as hard to buy a car in the United States as it is today.

Even with an improving supply chain, numbers from the Bureau of Labor Statistics say car prices are climbing higher and faster since 2020 than any other point in the last 35 years.

The average price of a new car has gone up almost $12,000 in the past five years.

The average price for a used car is up almost $9,000.

The last time car buyers saw these types of price hikes was back in the 1970’s and 80’s.