Cars priced at $15,000 in 1974 $44,701.76 in 2024

Cars Inflation Calculator

$

Prices for Cars, 1974-2024 ($15,000)

According to the U.S. Bureau of Labor Statistics, prices for new cars are 198.01% higher in 2024 versus 1974 (a $29,701.76 difference in value).

Between 1974 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 1974 would cost $44,701.76 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.77% during this same period, inflation for cars was lower.

In the year 1974: Pricing changed by 5.79%, which is significantly above the average yearly change for cars during the 1974-2024 time period. Compared to inflation for all items in 1974 (11.05%), inflation for cars was much lower.

Price Inflation for New cars since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1947 (49.78%), 2022 (11.07%), and 1948 (8.97%).

View price changes for other categories
San Francisco, California · Admission to sporting events · Phoenix, Arizona · Philadelphia, Pennsylvania · More

Buying power of $15,000.00 since 1974

Below are calculations of equivalent buying power for Cars, over time, for $15,000 beginning in 1974. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1974$15,000.005.79%
1975$16,286.688.58%
1976$17,318.426.33%
1977$18,234.635.29%
1978$19,628.877.65%
1979$21,186.437.94%
1980$22,881.428.00%
1981$24,275.666.09%
1982$25,209.803.85%
1983$25,861.112.58%
1984$26,606.032.88%
1985$27,458.503.20%
1986$28,641.614.31%
1987$29,667.373.58%
1988$30,256.941.99%
1989$30,874.392.04%
1990$31,322.531.45%
1991$32,449.873.60%
1992$33,236.622.42%
1993$34,047.272.44%
1994$35,210.463.42%
1995$35,995.222.23%
1996$36,620.631.74%
1997$36,684.370.17%
1998$36,431.42-0.69%
1999$36,134.64-0.81%
2000$36,134.640.00% **
2001$35,971.32-0.45%
2002$35,547.07-1.18%
2003$34,873.85-1.89%
2004$34,680.65-0.55%
2005$35,013.280.96%
2006$35,323.990.89%
2007$35,179.49-0.41%
2008$35,059.27-0.34%
2009$35,391.690.95%
2010$35,756.731.03%
2011$36,826.542.99%
2012$37,331.931.37%
2013$37,524.980.52%
2014$37,407.32-0.31%
2015$37,388.30-0.05%
2016$37,205.68-0.49%
2017$36,938.68-0.72%
2018$36,759.72-0.48%
2019$36,975.210.59%
2020$37,274.270.81%
2021$39,346.335.56%
2022$43,703.0411.07%
2023$45,213.763.46%
2024$44,701.76-1.13%*

* 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:

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI20.30020.40020.80021.80021.30021.30023.00023.00023.00023.00023.00023.00034.45037.54040.90041.12043.32046.90047.19246.45444.82346.06248.46950.03152.19251.50851.50051.30850.98550.87749.72348.80849.26250.65451.46953.03155.20854.73154.76257.93162.90066.88570.42375.80881.82388.36993.75497.36299.877102.754106.046110.615114.577116.854119.238120.969125.323128.362131.492135.985139.015141.431141.677140.700139.554139.554138.923137.285134.685133.938135.223136.423135.865135.401136.685138.094142.226144.178144.923144.469144.396143.690142.659141.968142.800143.955151.958168.783174.618172.641

Adjust cars prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1974 * 1974 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for New cars was 57.931 in the year 1974 and 172.641 in 2024:

172.641 / 57.931 * $15,000 = $44,701.76

Therefore, according to U.S. Bureau of Labor Statistics, $15,000 in 1974 has the same "purchasing power" as $44,701.76 in 2024 (in the CPI category of New cars).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for New cars in 1935. In addition to cars, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

» Read more about inflation and investment.