According to the U.S. Bureau of Labor Statistics, prices for new and used motor vehicles were 1.52% higher in 2020 versus 2010 (a $303.10 difference in value).
Between 2010 and 2020: New and used vehicles experienced an average inflation rate of 0.15% per year. In other words, new and used vehicles costing $20,000 in the year 2010 would cost $20,303.10 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.68% during this same period, inflation for new and used vehicles was lower.
In the year 2010: Pricing changed by 3.91%, which is significantly above the average yearly change for new and used vehicles during the 2010-2020 time period. Compared to inflation for all items in 2010 (1.64%), inflation for new and used vehicles was higher.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for New and used motor vehicles:
Below are calculations of equivalent buying power for New and used vehicles, over time, for $20000 beginning in 2010. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|