According to the U.S. Bureau of Labor Statistics, prices for new vehicles are 23.37% higher in 2024 versus 1997 (a $4,673.37 difference in value).
Between 1997 and 2024: Vehicles experienced an average inflation rate of 0.78% per year. In other words, vehicles costing $20,000 in the year 1997 would cost $24,673.37 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.51% during this same period, inflation for vehicles was lower.
In the year 1997: Pricing changed by 0.41%, which is below the average yearly change for vehicles during the 1997-2024 time period. Compared to inflation for all items in 1997 (2.33%), inflation for vehicles was lower.
Below are calculations of equivalent buying power for Vehicles, over time, for $20,000 beginning in 1997. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1997 | $20,000.00 | 0.41% |
| 1998 | $19,886.95 | -0.57% |
| 1999 | $19,806.96 | -0.40% |
| 2000 | $19,792.03 | -0.08% |
| 2001 | $19,702.45 | -0.45% |
| 2002 | $19,410.23 | -1.48% |
| 2003 | $19,112.68 | -1.53% |
| 2004 | $19,002.83 | -0.57% |
| 2005 | $19,120.14 | 0.62% |
| 2006 | $19,075.35 | -0.23% |
| 2007 | $18,890.92 | -0.97% |
| 2008 | $18,605.22 | -1.51% |
| 2009 | $18,803.43 | 1.07% |
| 2010 | $19,133.70 | 1.76% |
| 2011 | $19,671.35 | 2.81% |
| 2012 | $19,996.98 | 1.66% |
| 2013 | $20,212.05 | 1.08% |
| 2014 | $20,280.20 | 0.34% |
| 2015 | $20,399.46 | 0.59% |
| 2016 | $20,430.31 | 0.15% |
| 2017 | $20,379.66 | -0.25% |
| 2018 | $20,281.84 | -0.48% |
| 2019 | $20,357.72 | 0.37% |
| 2020 | $20,463.96 | 0.52% |
| 2021 | $21,661.87 | 5.85% |
| 2022 | $23,913.42 | 10.39% |
| 2023 | $24,803.33 | 3.72% |
| 2024 | $24,673.37 | -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 |