According to the U.S. Bureau of Labor Statistics, prices for new cars are 691.68% higher in 2024 versus 1938 (a $103,751.96 difference in value).
Between 1938 and 2024: Cars experienced an average inflation rate of 2.43% per year. This rate of change indicates significant inflation. In other words, cars costing $15,000 in the year 1938 would cost $118,751.96 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.67% during this same period, inflation for cars was lower.
In the year 1938: Pricing changed by 4.81%, which is above the average yearly change for cars during the 1938-2024 time period. Compared to inflation for all items in 1938 (-2.03%), inflation for cars was much higher.
Below are calculations of equivalent buying power for Cars, over time, for $15,000 beginning in 1938. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1938 | $15,000.00 | 4.81% |
| 1939 | $14,655.96 | -2.29% |
| 1940 | $14,655.96 | 0.00% ** |
| 1941 | $15,825.69 | 7.98% |
| 1942 | $15,825.69 | 0.00% ** |
| 1943 | $15,825.69 | 0.00% ** |
| 1944 | $15,825.69 | 0.00% ** |
| 1945 | $15,825.69 | 0.00% ** |
| 1946 | $15,825.69 | 0.00% ** |
| 1947 | $23,704.13 | 49.78% |
| 1948 | $25,830.28 | 8.97% |
| 1949 | $28,142.20 | 8.95% |
| 1950 | $28,293.58 | 0.54% |
| 1951 | $29,807.34 | 5.35% |
| 1952 | $32,270.64 | 8.26% |
| 1953 | $32,471.77 | 0.62% |
| 1954 | $31,963.66 | -1.56% |
| 1955 | $30,841.57 | -3.51% |
| 1956 | $31,693.72 | 2.76% |
| 1957 | $33,350.39 | 5.23% |
| 1958 | $34,424.84 | 3.22% |
| 1959 | $35,912.14 | 4.32% |
| 1960 | $35,441.07 | -1.31% |
| 1961 | $35,435.78 | -0.01% |
| 1962 | $35,303.46 | -0.37% |
| 1963 | $35,081.16 | -0.63% |
| 1964 | $35,007.06 | -0.21% |
| 1965 | $34,213.13 | -2.27% |
| 1966 | $33,583.27 | -1.84% |
| 1967 | $33,895.55 | 0.93% |
| 1968 | $34,853.56 | 2.83% |
| 1969 | $35,414.61 | 1.61% |
| 1970 | $36,489.06 | 3.03% |
| 1971 | $37,986.94 | 4.11% |
| 1972 | $37,658.79 | -0.86% |
| 1973 | $37,679.96 | 0.06% |
| 1974 | $39,860.62 | 5.79% |
| 1975 | $43,279.82 | 8.58% |
| 1976 | $46,021.52 | 6.33% |
| 1977 | $48,456.25 | 5.29% |
| 1978 | $52,161.26 | 7.65% |
| 1979 | $56,300.28 | 7.94% |
| 1980 | $60,804.52 | 8.00% |
| 1981 | $64,509.53 | 6.09% |
| 1982 | $66,991.88 | 3.85% |
| 1983 | $68,722.65 | 2.58% |
| 1984 | $70,702.19 | 2.88% |
| 1985 | $72,967.54 | 3.20% |
| 1986 | $76,111.50 | 4.31% |
| 1987 | $78,837.33 | 3.58% |
| 1988 | $80,404.02 | 1.99% |
| 1989 | $82,044.81 | 2.04% |
| 1990 | $83,235.71 | 1.45% |
| 1991 | $86,231.47 | 3.60% |
| 1992 | $88,322.16 | 2.42% |
| 1993 | $90,476.36 | 2.44% |
| 1994 | $93,567.40 | 3.42% |
| 1995 | $95,652.79 | 2.23% |
| 1996 | $97,314.75 | 1.74% |
| 1997 | $97,484.12 | 0.17% |
| 1998 | $96,811.93 | -0.69% |
| 1999 | $96,023.29 | -0.81% |
| 2000 | $96,023.29 | 0.00% ** |
| 2001 | $95,589.27 | -0.45% |
| 2002 | $94,461.89 | -1.18% |
| 2003 | $92,672.90 | -1.89% |
| 2004 | $92,159.49 | -0.55% |
| 2005 | $93,043.40 | 0.96% |
| 2006 | $93,869.09 | 0.89% |
| 2007 | $93,485.09 | -0.41% |
| 2008 | $93,165.61 | -0.34% |
| 2009 | $94,048.99 | 0.95% |
| 2010 | $95,019.02 | 1.03% |
| 2011 | $97,861.93 | 2.99% |
| 2012 | $99,204.94 | 1.37% |
| 2013 | $99,717.93 | 0.52% |
| 2014 | $99,405.28 | -0.31% |
| 2015 | $99,354.73 | -0.05% |
| 2016 | $98,869.42 | -0.49% |
| 2017 | $98,159.92 | -0.72% |
| 2018 | $97,684.35 | -0.48% |
| 2019 | $98,256.99 | 0.59% |
| 2020 | $99,051.71 | 0.81% |
| 2021 | $104,557.94 | 5.56% |
| 2022 | $116,135.36 | 11.07% |
| 2023 | $120,149.89 | 3.46% |
| 2024 | $118,751.96 | -1.16%* |
* 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 cars:
| 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 | 21.300 | 23.000 | 23.000 | 23.000 | 23.000 | 23.000 | 23.000 | 34.450 | 37.540 | 40.900 | 41.120 | 43.320 | 46.900 | 47.192 | 46.454 | 44.823 | 46.062 | 48.469 | 50.031 | 52.192 | 51.508 | 51.500 | 51.308 | 50.985 | 50.877 | 49.723 | 48.808 | 49.262 | 50.654 | 51.469 | 53.031 | 55.208 | 54.731 | 54.762 | 57.931 | 62.900 | 66.885 | 70.423 | 75.808 | 81.823 | 88.369 | 93.754 | 97.362 | 99.877 | 102.754 | 106.046 | 110.615 | 114.577 | 116.854 | 119.238 | 120.969 | 125.323 | 128.362 | 131.492 | 135.985 | 139.015 | 141.431 | 141.677 | 140.700 | 139.554 | 139.554 | 138.923 | 137.285 | 134.685 | 133.938 | 135.223 | 136.423 | 135.865 | 135.401 | 136.685 | 138.094 | 142.226 | 144.178 | 144.923 | 144.469 | 144.396 | 143.690 | 142.659 | 141.968 | 142.800 | 143.955 | 151.958 | 168.783 | 174.618 | 172.586 |