On the Dash: The average new-vehicle price rose 0.5% in August to $50,090, putting renewed pressure on affordability. The typical payment reached $770, up 0.5% monthly and 2.6% year over year. Affordability remained 1.2% better than a year ago, with buyers needing 35.5 weeks of median income to purchase a new vehicle. According to the latest Cox Automotive/Moody’s Analytics Vehicle Affordability Index, new-vehicle affordability experienced a slight decline in August. Per Kelley Blue Book, the average price of a new vehicle rose by 0.5% during the month, reaching $50,090. While income growth improved by 0.3% from July, the estimated average auto loan rate decreased by 2 basis points to 9.49%.…
