New-vehicle prices hit a new record last month as many consumers kept up demand for pricey midsize and full-size trucks and SUVs.

Midsize SUVs led segments on sales for the month, according to Kelley Blue Book data, volume up about 10% year-over-year.

KBB data puts the average U.S. retail price paid during the month at $51,109, surpassing the previous record of $50,080 set in September 2025.

The average transaction price was up 1% over September’s and by 2% year-over-year, said KBB parent Cox Automotive, which pointed out that auto price inflation still came in under long-term averages.

The demand for hefty models appeared to dampen automakers’ and dealers’ inclination to increase incentives. Essentially flat incentive spending, at 6.8% of ATP, came in below long-term averages, according to the report.

Meanwhile, the average manufacturer’s suggested retail price rose by nearly 1½% over September and about 2½% year-over-year. That was still under the 3% norm for October, Cox said.

Of the five segments with the highest sales volumes, compact SUVs came in second, followed by full-size pickups, then subcompact SUVs and compact cars in fifth, revealing a mix of demand from expensive large models to smaller and more economical ones.

“The average is telling us as much about product mix as it is about affordability,” said Cox Executive Analyst Erin Keating.

“Consumers are still buying plenty of vehicles well below the headline average transaction price, even as strong demand for full-size pickups and other larger, well-equipped vehicles keeps pushing the average to new highs.”