CarGurus, Inc. released its Quarterly Review for Q1 2025 on April 2, 2025, indicating that automotive affordability continues to be a primary driver in the market. The report highlighted that new car pricing remains a significant challenge for consumers.
Vehicles priced under $30,000 accounted for only 13% of new car inventory in Q1 2025, a sharp decrease from 37% in Q1 2020. This scarcity of affordable options is exacerbated by the recent imposition of tariffs on auto imports.
CarGurus' analysis suggests that tariffs could increase the average new car list price by over $3,300, potentially reaching approximately $52,800. The share of listings priced under $30,000 could decline by 42%, while those above $50,000 would increase by 15%, further impacting affordability and inventory mix.
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