Kelley Blue Book (div. Cox Automotive) reports the average cost of a U.S.-sold new vehicle increased by 1% year-over-year to $48,039 in February; however, prices declined by 1.3% from the prior month.

Among other highlights, KBB’s monthly average transaction price (ATP) report found sales of vehicles priced at $100,000 or higher are booming: U.S. dealers sold more than 52,000 such vehicles in January and February, up from 46,000 in the same period last year.

“Compared to February 2020, ATP is up 25% while incentives are down 13% and monthly sales are down 9%. Auto loan rates are higher now as well, making new-vehicle affordability a real challenge for most households,” writes Cox Automotive Executive Analyst Erin Keating. “While affordability is a challenge for many households, six-figure vehicles continue to sell well and have experienced a four-fold increase in sales volume since early 2020.”

Read the full report at Cox Automotive