According to the U.S. Bureau of Labor Statistics, prices for new and used motor vehicles were 2.17% lower in 2020 versus 2014 (a $433.77 difference in value).
Between 2014 and 2020: New and used vehicles experienced an average inflation rate of -0.36% per year. In other words, new and used vehicles costing $20,000 in the year 2014 would cost $19,566.23 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.41% during this same period, inflation for new and used vehicles was lower.
In the year 2014: Pricing changed by -0.13%, which is above the average yearly change for new and used vehicles during the 2014-2020 time period. Compared to inflation for all items in 2014 (1.62%), inflation for new and used vehicles was lower.
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 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|