ATLANTA — Americans shopping for a new car are facing record-high prices, with the average amount paid for a new vehicle now exceeding $51,000.

According to Cox Automotive, citing Kelley Blue Book data, the average transaction price for a new vehicle increased 2.1% compared to a year ago, reaching a record of just over $51,000.

Meanwhile, the average price advertised by automakers rose 2.4% over the same period to nearly $53,000.

Despite rising prices, wealthier buyers are showing few signs of delaying their next vehicle purchases.

Continued demand from those buyers has helped automakers and dealerships maintain profits without offering significant discounts or incentives.

Bloomberg’s Gina Cervetti contributed to this story.