According to the U.S. Bureau of Labor Statistics, prices for new vehicles were 583.58% higher in 2018 versus 1940 (a $11,671,653.49 difference in value).
Between 1940 and 2018: Vehicles experienced an average inflation rate of 2.49% per year. This rate of change indicates significant inflation. In other words, vehicles costing $2,000,000 in the year 1940 would cost $13,671,653.49 in 2018 for an equivalent purchase. Compared to the overall inflation rate of 3.77% during this same period, inflation for vehicles was lower.
In the year 1940: Pricing changed by 0.47%, which is below the average yearly change for vehicles during the 1940-2018 time period. Compared to inflation for all items in 1940 (0.72%), inflation for vehicles was lower.
Below are calculations of equivalent buying power for Vehicles, over time, for $2,000,000 beginning in 1940. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1940 | $2,000,000.00 | 0.47% |
1941 | $2,149,532.71 | 7.48% |
1942 | $2,149,532.71 | 0.00% ** |
1943 | $2,149,532.71 | 0.00% ** |
1944 | $2,149,532.71 | 0.00% ** |
1945 | $2,149,532.71 | 0.00% ** |
1946 | $2,149,532.71 | 0.00% ** |
1947 | $3,224,299.07 | 50.00% |
1948 | $3,512,149.53 | 8.93% |
1949 | $3,831,775.70 | 9.10% |
1950 | $3,852,336.45 | 0.54% |
1951 | $4,052,336.45 | 5.19% |
1952 | $4,386,915.89 | 8.26% |
1953 | $4,416,247.30 | 0.67% |
1954 | $4,346,513.30 | -1.58% |
1955 | $4,194,104.96 | -3.51% |
1956 | $4,312,005.75 | 2.81% |
1957 | $4,537,023.72 | 5.22% |
1958 | $4,682,961.90 | 3.22% |
1959 | $4,882,818.12 | 4.27% |
1960 | $4,819,554.28 | -1.30% |
1961 | $4,818,835.37 | -0.01% |
1962 | $4,800,143.78 | -0.39% |
1963 | $4,771,387.49 | -0.60% |
1964 | $4,757,728.25 | -0.29% |
1965 | $4,653,486.70 | -2.19% |
1966 | $4,569,374.55 | -1.81% |
1967 | $4,611,790.08 | 0.93% |
1968 | $4,737,598.85 | 2.73% |
1969 | $4,814,521.93 | 1.62% |
1970 | $4,965,492.45 | 3.14% |
1971 | $5,166,067.58 | 4.04% |
1972 | $5,120,776.42 | -0.88% |
1973 | $5,122,214.23 | 0.03% |
1974 | $5,419,122.93 | 5.80% |
1975 | $5,886,412.65 | 8.62% |
1976 | $6,258,806.61 | 6.33% |
1977 | $6,590,941.77 | 5.31% |
1978 | $7,093,457.94 | 7.62% |
1979 | $7,656,362.33 | 7.94% |
1980 | $8,268,152.41 | 7.99% |
1981 | $8,772,825.31 | 6.10% |
1982 | $9,109,992.81 | 3.84% |
1983 | $9,334,291.88 | 2.46% |
1984 | $9,591,660.68 | 2.76% |
1985 | $9,911,574.41 | 3.34% |
1986 | $10,336,448.60 | 4.29% |
1987 | $10,690,150.97 | 3.42% |
1988 | $10,889,288.28 | 1.86% |
1989 | $11,136,592.38 | 2.27% |
1990 | $11,345,794.39 | 1.88% |
1991 | $11,774,263.12 | 3.78% |
1992 | $12,075,485.26 | 2.56% |
1993 | $12,405,463.70 | 2.73% |
1994 | $12,858,375.27 | 3.65% |
1995 | $13,173,256.65 | 2.45% |
1996 | $13,427,030.91 | 1.93% |
1997 | $13,481,667.86 | 0.41% |
1998 | $13,405,463.70 | -0.57% |
1999 | $13,351,545.65 | -0.40% |
2000 | $13,341,480.95 | -0.08% |
2001 | $13,281,092.74 | -0.45% |
2002 | $13,084,112.15 | -1.48% |
2003 | $12,883,537.02 | -1.53% |
2004 | $12,809,489.58 | -0.57% |
2005 | $12,888,569.37 | 0.62% |
2006 | $12,858,375.27 | -0.23% |
2007 | $12,734,054.64 | -0.97% |
2008 | $12,541,466.57 | -1.51% |
2009 | $12,675,082.67 | 1.07% |
2010 | $12,897,706.69 | 1.76% |
2011 | $13,260,129.40 | 2.81% |
2012 | $13,479,633.36 | 1.66% |
2013 | $13,624,608.20 | 1.08% |
2014 | $13,670,546.37 | 0.34% |
2015 | $13,750,934.58 | 0.59% |
2016 | $13,771,732.57 | 0.15% |
2017 | $13,737,591.66 | -0.25% |
2018 | $13,671,653.49 | -0.48% |
2019 | $13,722,803.74 | 0.37% |
2020 | $13,794,414.09 | 0.52% |
2021 | $14,601,905.10 | 5.85% |
2022 | $16,119,640.55 | 10.39% |
2023 | $16,719,511.14 | 3.72% |
2024 | $16,680,186.92 | -0.24%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for New vehicles:
Year | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
CPI | 20.300 | 20.400 | 20.800 | 21.800 | 21.300 | 21.400 | 23.000 | 23.000 | 23.000 | 23.000 | 23.000 | 23.000 | 34.500 | 37.580 | 41.000 | 41.220 | 43.360 | 46.940 | 47.254 | 46.508 | 44.877 | 46.138 | 48.546 | 50.108 | 52.246 | 51.569 | 51.562 | 51.362 | 51.054 | 50.908 | 49.792 | 48.892 | 49.346 | 50.692 | 51.515 | 53.131 | 55.277 | 54.792 | 54.808 | 57.985 | 62.985 | 66.969 | 70.523 | 75.900 | 81.923 | 88.469 | 93.869 | 97.477 | 99.877 | 102.631 | 106.054 | 110.600 | 114.385 | 116.515 | 119.162 | 121.400 | 125.985 | 129.208 | 132.738 | 137.585 | 140.954 | 143.669 | 144.254 | 143.438 | 142.862 | 142.754 | 142.108 | 140.000 | 137.854 | 137.062 | 137.908 | 137.585 | 136.254 | 134.194 | 135.623 | 138.005 | 141.883 | 144.232 | 145.783 | 146.275 | 147.135 | 147.358 | 146.992 | 146.287 | 146.834 | 147.600 | 156.240 | 172.480 | 178.899 | 178.478 |