According to the U.S. Bureau of Labor Statistics, prices for new and used motor vehicles are 23.40% higher in 2024 versus 1996 (a $4,680.85 difference in value).
Between 1996 and 2024: New and used vehicles experienced an average inflation rate of 0.75% per year. In other words, new and used vehicles costing $20,000 in the year 1996 would cost $24,680.85 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.50% during this same period, inflation for new and used vehicles was lower.
In the year 1996: Pricing changed by 1.62%, which is above the average yearly change for new and used vehicles during the 1996-2024 time period. Compared to inflation for all items in 1996 (2.93%), inflation for new and used vehicles was lower.
Below are calculations of equivalent buying power for New and used vehicles, over time, for $20,000 beginning in 1996. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1996 | $20,000.00 | 1.62% |
| 1997 | $19,910.12 | -0.45% |
| 1998 | $19,827.86 | -0.41% |
| 1999 | $19,824.82 | -0.02% |
| 2000 | $19,966.49 | 0.71% |
| 2001 | $20,062.46 | 0.48% |
| 2002 | $19,646.58 | -2.07% |
| 2003 | $19,104.27 | -2.76% |
| 2004 | $18,653.36 | -2.36% |
| 2005 | $18,930.61 | 1.49% |
| 2006 | $18,932.13 | 0.01% |
| 2007 | $18,675.31 | -1.36% |
| 2008 | $18,474.93 | -1.07% |
| 2009 | $18,513.55 | 0.21% |
| 2010 | $19,238.94 | 3.92% |
| 2011 | $19,757.89 | 2.70% |
| 2012 | $19,923.06 | 0.84% |
| 2013 | $19,987.78 | 0.32% |
| 2014 | $19,961.03 | -0.13% |
| 2015 | $19,952.72 | -0.04% |
| 2016 | $19,844.91 | -0.54% |
| 2017 | $19,581.31 | -1.33% |
| 2018 | $19,631.12 | 0.25% |
| 2019 | $19,695.18 | 0.33% |
| 2020 | $19,938.08 | 1.23% |
| 2021 | $22,673.17 | 13.72% |
| 2022 | $25,380.62 | 11.94% |
| 2023 | $25,280.19 | -0.40% |
| 2024 | $24,680.85 | -2.37%* |
* 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 and used motor vehicles:
| Year | 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 | 91.800 | 95.531 | 99.385 | 100.992 | 100.538 | 100.123 | 100.108 | 100.823 | 101.308 | 99.208 | 96.469 | 94.192 | 95.592 | 95.600 | 94.303 | 93.291 | 93.486 | 97.149 | 99.770 | 100.604 | 100.931 | 100.796 | 100.754 | 100.209 | 98.878 | 99.130 | 99.453 | 100.680 | 114.491 | 128.162 | 127.655 | 124.629 |