Affordability challenges in part reflect automakers prioritizing production of the most profitable and best-equipped vehicles during a time of low inventory, Keogh said.
"But I believe strongly, as Volkswagen, in the People's Car, so it's important that we price and have available cars in the low $20,000s," said Keogh, pointing out that Volkswagen's Jetta and Taos both have starting prices in that zone.
Nissan Americas Chairperson Jeremie Papin said the brand strives to offer competitive prices. "We are very attentive to ability to pay, willingness to pay, because the idea is to expand the customer base in all the segments where we compete," he said.
But Papin said brand leaders still want consumers to pay sticker price. "We believe that's the right level of value, and therefore our intent is to maintain that value proposal going forward," he said.
General Motors North America President Steve Carlisle said the automaker "every week, every month" monitors pricing with the aim to keep consumers from being pushed out of the new-vehicle market.
"Right now, it's a very good market from a pricing perspective because of constraints," Carlisle said. "As the volume availability starts to expand, we'll have to make pricing decisions that go with that, but I'd say maintain that discipline. I would hope we don't get back into a situation where the industry is overproducing and we get back onto the other end of the spectrum because that's not right, either."
Lower vehicle values could hurt consumers, too, Carlisle said.
"Having a car with high residual values is great if you're a consumer," he said. "If you can find yourself where you don't have a car with great residual values, that's not awesome. It's all about working every day to find that balance."