According to the U.S. Bureau of Labor Statistics, prices for new vehicles are 234.95% higher in 2024 versus 1970 (a $46,989.96 difference in value).
Between 1970 and 2024: Vehicles experienced an average inflation rate of 2.26% per year. This rate of change indicates significant inflation. In other words, vehicles costing $20,000 in the year 1970 would cost $66,989.96 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.94% during this same period, inflation for vehicles was lower.
In the year 1970: Pricing changed by 3.14%, which is above the average yearly change for vehicles during the 1970-2024 time period. Compared to inflation for all items in 1970 (5.83%), inflation for vehicles was lower.
Below are calculations of equivalent buying power for Vehicles, over time, for $20,000 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 | $20,000.00 | 3.14% |
| 1971 | $20,807.88 | 4.04% |
| 1972 | $20,625.45 | -0.88% |
| 1973 | $20,631.24 | 0.03% |
| 1974 | $21,827.13 | 5.80% |
| 1975 | $23,709.28 | 8.62% |
| 1976 | $25,209.21 | 6.33% |
| 1977 | $26,546.98 | 5.31% |
| 1978 | $28,571.01 | 7.62% |
| 1979 | $30,838.28 | 7.94% |
| 1980 | $33,302.45 | 7.99% |
| 1981 | $35,335.17 | 6.10% |
| 1982 | $36,693.21 | 3.84% |
| 1983 | $37,596.64 | 2.46% |
| 1984 | $38,633.27 | 2.76% |
| 1985 | $39,921.82 | 3.34% |
| 1986 | $41,633.13 | 4.29% |
| 1987 | $43,057.77 | 3.42% |
| 1988 | $43,859.85 | 1.86% |
| 1989 | $44,855.94 | 2.27% |
| 1990 | $45,698.57 | 1.88% |
| 1991 | $47,424.35 | 3.78% |
| 1992 | $48,637.61 | 2.56% |
| 1993 | $49,966.70 | 2.73% |
| 1994 | $51,790.94 | 3.65% |
| 1995 | $53,059.22 | 2.45% |
| 1996 | $54,081.37 | 1.93% |
| 1997 | $54,301.43 | 0.41% |
| 1998 | $53,994.50 | -0.57% |
| 1999 | $53,777.33 | -0.40% |
| 2000 | $53,736.79 | -0.08% |
| 2001 | $53,493.56 | -0.45% |
| 2002 | $52,700.16 | -1.48% |
| 2003 | $51,892.28 | -1.53% |
| 2004 | $51,594.04 | -0.57% |
| 2005 | $51,912.55 | 0.62% |
| 2006 | $51,790.94 | -0.23% |
| 2007 | $51,290.20 | -0.97% |
| 2008 | $50,514.49 | -1.51% |
| 2009 | $51,052.67 | 1.07% |
| 2010 | $51,949.36 | 1.76% |
| 2011 | $53,409.12 | 2.81% |
| 2012 | $54,293.24 | 1.66% |
| 2013 | $54,877.17 | 1.08% |
| 2014 | $55,062.20 | 0.34% |
| 2015 | $55,385.99 | 0.59% |
| 2016 | $55,469.76 | 0.15% |
| 2017 | $55,332.24 | -0.25% |
| 2018 | $55,066.66 | -0.48% |
| 2019 | $55,272.68 | 0.37% |
| 2020 | $55,561.11 | 0.52% |
| 2021 | $58,813.52 | 5.85% |
| 2022 | $64,926.65 | 10.39% |
| 2023 | $67,342.81 | 3.72% |
| 2024 | $66,989.96 | -0.52%* |
* 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 vehicles:
| 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 | 21.400 | 23.000 | 23.000 | 23.000 | 23.000 | 23.000 | 23.000 | 34.500 | 37.580 | 41.000 | 41.220 | 43.360 | 46.940 | 47.254 | 46.508 | 44.877 | 46.138 | 48.546 | 50.108 | 52.246 | 51.569 | 51.562 | 51.362 | 51.054 | 50.908 | 49.792 | 48.892 | 49.346 | 50.692 | 51.515 | 53.131 | 55.277 | 54.792 | 54.808 | 57.985 | 62.985 | 66.969 | 70.523 | 75.900 | 81.923 | 88.469 | 93.869 | 97.477 | 99.877 | 102.631 | 106.054 | 110.600 | 114.385 | 116.515 | 119.162 | 121.400 | 125.985 | 129.208 | 132.738 | 137.585 | 140.954 | 143.669 | 144.254 | 143.438 | 142.862 | 142.754 | 142.108 | 140.000 | 137.854 | 137.062 | 137.908 | 137.585 | 136.254 | 134.194 | 135.623 | 138.005 | 141.883 | 144.232 | 145.783 | 146.275 | 147.135 | 147.358 | 146.992 | 146.287 | 146.834 | 147.600 | 156.240 | 172.480 | 178.899 | 177.961 |