According to the U.S. Bureau of Labor Statistics, prices for used cars and trucks were 334% higher in 2016 versus 1972 (a $23,380,260.59 difference in value).
Between 1972 and 2016: Used cars and trucks experienced an average inflation rate of 3.39% per year. This rate of change indicates significant inflation. In other words, used cars and trucks costing $7,000,000 in the year 1972 would cost $30,380,260.59 in 2016 for an equivalent purchase. Compared to the overall inflation rate of 4.05% during this same period, inflation for used cars and trucks was lower.
In the year 1972: Pricing changed by 0.16%, which is significantly below the average yearly change for used cars and trucks during the 1972-2016 time period. Compared to inflation for all items in 1972 (3.27%), inflation for used cars and trucks was much lower.
Below are calculations of equivalent buying power for Used cars and trucks, 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 | 0.16% |
1973 | $7,451,140.07 | 6.44% |
1974 | $7,768,729.64 | 4.26% |
1975 | $9,285,016.29 | 19.52% |
1976 | $10,646,579.80 | 14.66% |
1977 | $11,589,576.55 | 8.86% |
1978 | $11,824,104.23 | 2.02% |
1979 | $12,747,557.00 | 7.81% |
1980 | $13,193,811.07 | 3.50% |
1981 | $16,285,016.29 | 23.43% |
1982 | $18,796,416.94 | 15.42% |
1983 | $20,902,280.13 | 11.20% |
1984 | $23,822,475.57 | 13.97% |
1985 | $24,074,918.57 | 1.06% |
1986 | $23,032,573.29 | -4.33% |
1987 | $23,944,625.41 | 3.96% |
1988 | $24,977,198.70 | 4.31% |
1989 | $25,498,371.34 | 2.09% |
1990 | $24,892,508.14 | -2.38% |
1991 | $25,009,771.99 | 0.47% |
1992 | $26,078,175.90 | 4.27% |
1993 | $28,346,905.54 | 8.70% |
1994 | $29,993,485.34 | 5.81% |
1995 | $33,125,407.17 | 10.44% |
1996 | $33,249,185.67 | 0.37% |
1997 | $31,996,742.67 | -3.77% |
1998 | $31,887,622.15 | -0.34% |
1999 | $32,188,925.08 | 0.94% |
2000 | $32,978,827.36 | 2.45% |
2001 | $33,600,977.20 | 1.89% |
2002 | $32,177,524.43 | -4.24% |
2003 | $30,258,957.65 | -5.96% |
2004 | $28,228,013.03 | -6.71% |
2005 | $29,522,801.30 | 4.59% |
2006 | $29,640,065.15 | 0.40% |
2007 | $28,741,156.35 | -3.03% |
2008 | $28,360,993.49 | -1.32% |
2009 | $26,883,485.34 | -5.21% |
2010 | $30,303,990.23 | 12.72% |
2011 | $31,549,462.54 | 4.11% |
2012 | $31,828,859.93 | 0.89% |
2013 | $31,735,000.00 | -0.29% |
2014 | $31,567,084.69 | -0.53% |
2015 | $31,149,087.95 | -1.32% |
2016 | $30,380,260.59 | -2.47% |
2017 | $29,273,078.18 | -3.64% |
2018 | $29,299,755.70 | 0.09% |
2019 | $29,591,530.94 | 1.00% |
2020 | $30,535,439.74 | 3.19% |
2021 | $38,667,231.27 | 26.63% |
2022 | $43,596,188.93 | 12.75% |
2023 | $40,486,758.96 | -7.13% |
2024 | $38,132,415.85 | -5.82%* |
* 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 Used cars and trucks:
Year | 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 | 28.400 | 26.731 | 22.738 | 21.477 | 20.685 | 23.154 | 24.008 | 26.808 | 25.054 | 26.015 | 28.385 | 28.731 | 29.954 | 29.777 | 29.031 | 29.954 | 30.717 | 30.877 | 31.223 | 33.008 | 33.062 | 35.192 | 36.692 | 43.854 | 50.285 | 54.738 | 55.846 | 60.208 | 62.315 | 76.915 | 88.777 | 98.723 | 112.515 | 113.708 | 108.785 | 113.092 | 117.969 | 120.431 | 117.569 | 118.123 | 123.169 | 133.885 | 141.662 | 156.454 | 157.038 | 151.123 | 150.608 | 152.031 | 155.762 | 158.700 | 151.977 | 142.915 | 133.323 | 139.438 | 139.992 | 135.747 | 133.951 | 126.973 | 143.128 | 149.011 | 150.330 | 149.887 | 149.094 | 147.120 | 143.488 | 138.259 | 138.385 | 139.763 | 144.221 | 182.628 | 205.908 | 191.222 | 180.102 |