New car cost reaches record high

April 13, 2012 1:11:47 PM PDT
The research firm found vehicles are now fetching record average prices of more than $30,000, up nearly 7 percent from a year ago.

Apparently, consumers are choosing more expensive trim levels as well which boosts the price.

Automakers are also producing cars more closely to market demand which means fewer vehicles on lots.

The research firm says the seller's market also means lower discounts.