According to the U.S. Bureau of Labor Statistics, prices for new cars are 240.82% higher in 2024 versus 1968 (a $36,123.61 difference in value).
Between 1968 and 2024: Cars experienced an average inflation rate of 2.21% per year. This rate of change indicates significant inflation. In other words, cars costing $15,000 in the year 1968 would cost $51,123.61 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.00% during this same period, inflation for cars was lower.
In the year 1968: Pricing changed by 2.83%, which is above the average yearly change for cars during the 1968-2024 time period. Compared to inflation for all items in 1968 (4.27%), inflation for cars was lower.
Below are calculations of equivalent buying power for Cars, over time, for $15,000 beginning in 1968. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1968 | $15,000.00 | 2.83% |
| 1969 | $15,241.46 | 1.61% |
| 1970 | $15,703.87 | 3.03% |
| 1971 | $16,348.52 | 4.11% |
| 1972 | $16,207.29 | -0.86% |
| 1973 | $16,216.40 | 0.06% |
| 1974 | $17,154.90 | 5.79% |
| 1975 | $18,626.42 | 8.58% |
| 1976 | $19,806.38 | 6.33% |
| 1977 | $20,854.21 | 5.29% |
| 1978 | $22,448.75 | 7.65% |
| 1979 | $24,230.07 | 7.94% |
| 1980 | $26,168.56 | 8.00% |
| 1981 | $27,763.10 | 6.09% |
| 1982 | $28,831.44 | 3.85% |
| 1983 | $29,576.31 | 2.58% |
| 1984 | $30,428.25 | 2.88% |
| 1985 | $31,403.19 | 3.20% |
| 1986 | $32,756.26 | 4.31% |
| 1987 | $33,929.38 | 3.58% |
| 1988 | $34,603.64 | 1.99% |
| 1989 | $35,309.79 | 2.04% |
| 1990 | $35,822.32 | 1.45% |
| 1991 | $37,111.62 | 3.60% |
| 1992 | $38,011.39 | 2.42% |
| 1993 | $38,938.50 | 2.44% |
| 1994 | $40,268.79 | 3.42% |
| 1995 | $41,166.29 | 2.23% |
| 1996 | $41,881.55 | 1.74% |
| 1997 | $41,954.44 | 0.17% |
| 1998 | $41,665.15 | -0.69% |
| 1999 | $41,325.74 | -0.81% |
| 2000 | $41,325.74 | 0.00% ** |
| 2001 | $41,138.95 | -0.45% |
| 2002 | $40,653.76 | -1.18% |
| 2003 | $39,883.83 | -1.89% |
| 2004 | $39,662.87 | -0.55% |
| 2005 | $40,043.28 | 0.96% |
| 2006 | $40,398.63 | 0.89% |
| 2007 | $40,233.37 | -0.41% |
| 2008 | $40,095.88 | -0.34% |
| 2009 | $40,476.06 | 0.95% |
| 2010 | $40,893.53 | 1.03% |
| 2011 | $42,117.04 | 2.99% |
| 2012 | $42,695.03 | 1.37% |
| 2013 | $42,915.81 | 0.52% |
| 2014 | $42,781.25 | -0.31% |
| 2015 | $42,759.50 | -0.05% |
| 2016 | $42,550.64 | -0.49% |
| 2017 | $42,245.28 | -0.72% |
| 2018 | $42,040.62 | -0.48% |
| 2019 | $42,287.06 | 0.59% |
| 2020 | $42,629.09 | 0.81% |
| 2021 | $44,998.82 | 5.56% |
| 2022 | $49,981.41 | 11.07% |
| 2023 | $51,709.16 | 3.46% |
| 2024 | $51,123.61 | -1.13%* |
* 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 | 172.641 |