According to the U.S. Bureau of Labor Statistics, prices for new vehicles were 586.14% higher in 2019 versus 1940 (a $5,861,401.87 difference in value).
Between 1940 and 2019: Vehicles experienced an average inflation rate of 2.47% per year. This rate of change indicates significant inflation. In other words, vehicles costing $1,000,000 in the year 1940 would cost $6,861,401.87 in 2019 for an equivalent purchase. Compared to the overall inflation rate of 3.74% 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 1940-2019 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 $1,000,000 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 | $1,000,000.00 | 0.47% |
1941 | $1,074,766.36 | 7.48% |
1942 | $1,074,766.36 | 0.00% ** |
1943 | $1,074,766.36 | 0.00% ** |
1944 | $1,074,766.36 | 0.00% ** |
1945 | $1,074,766.36 | 0.00% ** |
1946 | $1,074,766.36 | 0.00% ** |
1947 | $1,612,149.53 | 50.00% |
1948 | $1,756,074.77 | 8.93% |
1949 | $1,915,887.85 | 9.10% |
1950 | $1,926,168.22 | 0.54% |
1951 | $2,026,168.22 | 5.19% |
1952 | $2,193,457.94 | 8.26% |
1953 | $2,208,123.65 | 0.67% |
1954 | $2,173,256.65 | -1.58% |
1955 | $2,097,052.48 | -3.51% |
1956 | $2,156,002.88 | 2.81% |
1957 | $2,268,511.86 | 5.22% |
1958 | $2,341,480.95 | 3.22% |
1959 | $2,441,409.06 | 4.27% |
1960 | $2,409,777.14 | -1.30% |
1961 | $2,409,417.69 | -0.01% |
1962 | $2,400,071.89 | -0.39% |
1963 | $2,385,693.75 | -0.60% |
1964 | $2,378,864.13 | -0.29% |
1965 | $2,326,743.35 | -2.19% |
1966 | $2,284,687.28 | -1.81% |
1967 | $2,305,895.04 | 0.93% |
1968 | $2,368,799.42 | 2.73% |
1969 | $2,407,260.96 | 1.62% |
1970 | $2,482,746.23 | 3.14% |
1971 | $2,583,033.79 | 4.04% |
1972 | $2,560,388.21 | -0.88% |
1973 | $2,561,107.12 | 0.03% |
1974 | $2,709,561.47 | 5.80% |
1975 | $2,943,206.33 | 8.62% |
1976 | $3,129,403.31 | 6.33% |
1977 | $3,295,470.88 | 5.31% |
1978 | $3,546,728.97 | 7.62% |
1979 | $3,828,181.16 | 7.94% |
1980 | $4,134,076.20 | 7.99% |
1981 | $4,386,412.65 | 6.10% |
1982 | $4,554,996.41 | 3.84% |
1983 | $4,667,145.94 | 2.46% |
1984 | $4,795,830.34 | 2.76% |
1985 | $4,955,787.20 | 3.34% |
1986 | $5,168,224.30 | 4.29% |
1987 | $5,345,075.49 | 3.42% |
1988 | $5,444,644.14 | 1.86% |
1989 | $5,568,296.19 | 2.27% |
1990 | $5,672,897.20 | 1.88% |
1991 | $5,887,131.56 | 3.78% |
1992 | $6,037,742.63 | 2.56% |
1993 | $6,202,731.85 | 2.73% |
1994 | $6,429,187.63 | 3.65% |
1995 | $6,586,628.32 | 2.45% |
1996 | $6,713,515.46 | 1.93% |
1997 | $6,740,833.93 | 0.41% |
1998 | $6,702,731.85 | -0.57% |
1999 | $6,675,772.83 | -0.40% |
2000 | $6,670,740.47 | -0.08% |
2001 | $6,640,546.37 | -0.45% |
2002 | $6,542,056.07 | -1.48% |
2003 | $6,441,768.51 | -1.53% |
2004 | $6,404,744.79 | -0.57% |
2005 | $6,444,284.69 | 0.62% |
2006 | $6,429,187.63 | -0.23% |
2007 | $6,367,027.32 | -0.97% |
2008 | $6,270,733.29 | -1.51% |
2009 | $6,337,541.34 | 1.07% |
2010 | $6,448,853.34 | 1.76% |
2011 | $6,630,064.70 | 2.81% |
2012 | $6,739,816.68 | 1.66% |
2013 | $6,812,304.10 | 1.08% |
2014 | $6,835,273.18 | 0.34% |
2015 | $6,875,467.29 | 0.59% |
2016 | $6,885,866.28 | 0.15% |
2017 | $6,868,795.83 | -0.25% |
2018 | $6,835,826.74 | -0.48% |
2019 | $6,861,401.87 | 0.37% |
2020 | $6,897,207.05 | 0.52% |
2021 | $7,300,952.55 | 5.85% |
2022 | $8,059,820.27 | 10.39% |
2023 | $8,359,755.57 | 3.72% |
2024 | $8,340,093.46 | -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 |