Breaking news for anyone who’s been living under a Cybertruck-shaped rock: nearly half of the people buying new cars make over $150,000.
I have always wondered who is funding these kind of studies. You always see these kind of headlines:
- Studies show that men stare at women’s breasts
- Eating a lot makes you gain weight
- People don’t like going to work meetings
- If healthy foods were cheaper, people would buy them
- Partners are happier when they’re dating someone nice
Yes, these are real studies that someone wasted their time doing. I hope they were not funded. Anyway, you can now add this one by Cox Automotive to the list:
- People with more money buy new cars
Cars are more money, so… Duh
According to Cox Automotive’s very mind-bending and eye-opening study, buyers who made $150,000 accounted for 29% of new-car sales six years ago. In 2025, they make up 42% of new-car buyers.
Who would have thought that inflation, tariffs, a bad job market, and cars exploding in cost would cause more and more new cars to be reserved for people making six figures!? While the average used car is about $26,000, according to Kelly Blue Book, new cars are continuing to skyrocket in price. Kelly Blue Book looked into this number as well: the average is over $50,000 now.
Even the humble Mazda MX-5 Miata has essentially done the car equivalent of going up a tax bracket. The 2025 Mazda Miata will now start at $31,665, going over the $30,000 mark for the first time. While it doesn’t sound like much, it feels like the end of an era for car enthusiasts who championed the Miata as one of the last affordable yet capable sports cars. My coworker and I couldn’t even think of an alternative sports car under $30,000 that was worth writing about, so we ended up scrapping the whole “Miata expensive, buy X instead” angle. The truth is, this truly feels like the beginning of the end.
You don’t need to make $150,000 a year to buy a Miata, but seeing every once affordable cool car continue to increase in price is disheartening. A quick glance at the under-$30K options shows a base Toyota Corolla, Honda Civic, Toyota Prius, Buick Envista… I won’t bother to continue here. I’m sure you already are wondering why you’re reading such a depressing article.
So anyway, new cars are continuing to increase in price and you need to make more money to buy one. That’s the mind-blowing study, alright?
Meanwhile, used cars are nothing to scoff at. They can still be quite reliable, safe, and cost-effective if you look for the right make, model, and year. And you can still put a bow on the hood when you drive it home to make the occasion feel special. Used cars need love, too.
