Friday’s business headlines

INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines.

New cars

The average new car price has soared to $46,000.

The transaction price for new vehicles sold in the U.S. in October rose 12.9% year-over-year.

Prices were boosted by higher luxury sales and a preference for large SUVs and pickup trucks.

Tuition

The trend of escalating college costs is slowing.

According to the College Board’s 2021 Trends in College Pricing and Student Aid report, during the 2021-2022 academic year, average tuition prices increased at historically low rates and when adjusting for inflation, even decreased.

It says due to the pandemic, many colleges kept tuition flat.

Tesla

Tesla surpassed Mercedes-Benz to become the third best-selling luxury brand in the U.S.

Roughly 231,000 Teslas were registered in the U.S. through September of 2021, according to Experian.

Tesla still lags behind BMW and Lexus in the U.S. but it’s catching up quickly.

Oil

Oil is higher as investors weighed the odds that the White House will intervene to cool rising energy prices.

President Joe Biden is facing pressure, including from his own party, to address rising prices.

His options include tapping the Strategic Petroleum Reserve or even banning oil exports.