According to the U.S. Bureau of Labor Statistics, prices for new cars are 225.45% higher in 2024 versus 1970 (a $33,816.81 difference in value).
Between 1970 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 1970 would cost $48,816.81 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.94% during this same period, inflation for cars was lower.
In the year 1970: Pricing changed by 3.03%, which is above the average yearly change for cars during the 1970-2024 time period. Compared to inflation for all items in 1970 (5.83%), inflation for cars was lower.
Below are calculations of equivalent buying power for Cars, over time, for $15,000 beginning in 1970. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1970 | $15,000.00 | 3.03% |
| 1971 | $15,615.75 | 4.11% |
| 1972 | $15,480.85 | -0.86% |
| 1973 | $15,489.56 | 0.06% |
| 1974 | $16,385.99 | 5.79% |
| 1975 | $17,791.56 | 8.58% |
| 1976 | $18,918.62 | 6.33% |
| 1977 | $19,919.50 | 5.29% |
| 1978 | $21,442.56 | 7.65% |
| 1979 | $23,144.04 | 7.94% |
| 1980 | $24,995.65 | 8.00% |
| 1981 | $26,518.71 | 6.09% |
| 1982 | $27,539.16 | 3.85% |
| 1983 | $28,250.65 | 2.58% |
| 1984 | $29,064.40 | 2.88% |
| 1985 | $29,995.65 | 3.20% |
| 1986 | $31,288.08 | 4.31% |
| 1987 | $32,408.62 | 3.58% |
| 1988 | $33,052.65 | 1.99% |
| 1989 | $33,727.15 | 2.04% |
| 1990 | $34,216.71 | 1.45% |
| 1991 | $35,448.22 | 3.60% |
| 1992 | $36,307.66 | 2.42% |
| 1993 | $37,193.21 | 2.44% |
| 1994 | $38,463.88 | 3.42% |
| 1995 | $39,321.15 | 2.23% |
| 1996 | $40,004.35 | 1.74% |
| 1997 | $40,073.98 | 0.17% |
| 1998 | $39,797.65 | -0.69% |
| 1999 | $39,473.46 | -0.81% |
| 2000 | $39,473.46 | 0.00% ** |
| 2001 | $39,295.04 | -0.45% |
| 2002 | $38,831.59 | -1.18% |
| 2003 | $38,096.17 | -1.89% |
| 2004 | $37,885.12 | -0.55% |
| 2005 | $38,248.48 | 0.96% |
| 2006 | $38,587.90 | 0.89% |
| 2007 | $38,430.05 | -0.41% |
| 2008 | $38,298.72 | -0.34% |
| 2009 | $38,661.86 | 0.95% |
| 2010 | $39,060.62 | 1.03% |
| 2011 | $40,229.29 | 2.99% |
| 2012 | $40,781.38 | 1.37% |
| 2013 | $40,992.25 | 0.52% |
| 2014 | $40,863.73 | -0.31% |
| 2015 | $40,842.95 | -0.05% |
| 2016 | $40,643.45 | -0.49% |
| 2017 | $40,351.78 | -0.72% |
| 2018 | $40,156.29 | -0.48% |
| 2019 | $40,391.69 | 0.59% |
| 2020 | $40,718.39 | 0.81% |
| 2021 | $42,981.90 | 5.56% |
| 2022 | $47,741.17 | 11.07% |
| 2023 | $49,391.47 | 3.46% |
| 2024 | $48,816.81 | -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 |