According to the U.S. Bureau of Labor Statistics, prices for new vehicles were 168.94% higher in 2016 versus 1972 (a $11,825,685.81 difference in value).
Between 1972 and 2016: Vehicles experienced an average inflation rate of 2.27% per year. This rate of change indicates significant inflation. In other words, vehicles costing $7,000,000 in the year 1972 would cost $18,825,685.81 in 2016 for an equivalent purchase. Compared to the overall inflation rate of 4.05% during this same period, inflation for vehicles was lower.
In the year 1972: Pricing changed by -0.88%, which is significantly below the average yearly change for vehicles during the 1972-2016 time period. Compared to inflation for all items in 1972 (3.27%), inflation for vehicles was much lower.
Below are calculations of equivalent buying power for Vehicles, over time, for $7,000,000 beginning in 1972. Each of the amounts below is equivalent in terms of what it could buy at the time:
Year | USD Value | Inflation Rate |
---|---|---|
1972 | $7,000,000.00 | -0.88% |
1973 | $7,001,965.46 | 0.03% |
1974 | $7,407,833.78 | 5.80% |
1975 | $8,046,609.57 | 8.62% |
1976 | $8,555,664.75 | 6.33% |
1977 | $9,009,686.93 | 5.31% |
1978 | $9,696,616.59 | 7.62% |
1979 | $10,466,095.75 | 7.94% |
1980 | $11,302,400.67 | 7.99% |
1981 | $11,992,278.53 | 6.10% |
1982 | $12,453,179.84 | 3.84% |
1983 | $12,759,792.22 | 2.46% |
1984 | $13,111,610.28 | 2.76% |
1985 | $13,548,926.01 | 3.34% |
1986 | $14,129,720.62 | 4.29% |
1987 | $14,613,224.76 | 3.42% |
1988 | $14,885,441.53 | 1.86% |
1989 | $15,223,501.33 | 2.27% |
1990 | $15,509,476.34 | 1.88% |
1991 | $16,095,184.61 | 3.78% |
1992 | $16,506,949.32 | 2.56% |
1993 | $16,958,023.30 | 2.73% |
1994 | $17,577,144.46 | 3.65% |
1995 | $18,007,581.08 | 2.45% |
1996 | $18,354,485.47 | 1.93% |
1997 | $18,429,173.10 | 0.41% |
1998 | $18,325,003.51 | -0.57% |
1999 | $18,251,298.61 | -0.40% |
2000 | $18,237,540.36 | -0.08% |
2001 | $18,154,990.87 | -0.45% |
2002 | $17,885,722.31 | -1.48% |
2003 | $17,611,540.08 | -1.53% |
2004 | $17,510,318.69 | -0.57% |
2005 | $17,618,419.21 | 0.62% |
2006 | $17,577,144.46 | -0.23% |
2007 | $17,407,200.62 | -0.97% |
2008 | $17,143,936.54 | -1.51% |
2009 | $17,326,587.11 | 1.07% |
2010 | $17,630,909.73 | 1.76% |
2011 | $18,126,334.41 | 2.81% |
2012 | $18,426,391.97 | 1.66% |
2013 | $18,624,569.70 | 1.08% |
2014 | $18,687,366.28 | 0.34% |
2015 | $18,797,255.37 | 0.59% |
2016 | $18,825,685.81 | 0.15% |
2017 | $18,779,015.86 | -0.25% |
2018 | $18,688,879.69 | -0.48% |
2019 | $18,758,801.07 | 0.37% |
2020 | $18,856,691.00 | 0.52% |
2021 | $19,960,515.23 | 5.85% |
2022 | $22,035,229.54 | 10.39% |
2023 | $22,855,240.77 | 3.72% |
2024 | $22,801,485.33 | -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 |