Vehicles priced at $20,000 in 2002 $25,416.70 in 2024

Vehicles Inflation Calculator

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Prices for Vehicles, 2002-2024 ($20,000)

According to the U.S. Bureau of Labor Statistics, prices for new vehicles are 27.08% higher in 2024 versus 2002 (a $5,416.70 difference in value).

Between 2002 and 2024: Vehicles experienced an average inflation rate of 1.10% per year. In other words, vehicles costing $20,000 in the year 2002 would cost $25,416.70 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.56% during this same period, inflation for vehicles was lower.

In the year 2002: Pricing changed by -1.48%, which is below the average yearly change for vehicles during the 2002-2024 time period. Compared to inflation for all items in 2002 (1.59%), inflation for vehicles was much lower.

Price Inflation for New vehicles since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1947 (50%), 2022 (10.39%), and 1949 (9.10%).

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Buying power of $20,000.00 since 2002

Below are calculations of equivalent buying power for Vehicles, over time, for $20,000 beginning in 2002. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
2002$20,000.00-1.48%
2003$19,693.41-1.53%
2004$19,580.22-0.57%
2005$19,701.100.62%
2006$19,654.95-0.23%
2007$19,464.91-0.97%
2008$19,170.53-1.51%
2009$19,374.771.07%
2010$19,715.071.76%
2011$20,269.052.81%
2012$20,604.581.66%
2013$20,826.191.08%
2014$20,896.410.34%
2015$21,019.290.59%
2016$21,051.080.15%
2017$20,998.89-0.25%
2018$20,898.10-0.48%
2019$20,976.290.37%
2020$21,085.750.52%
2021$22,320.055.85%
2022$24,640.0210.39%
2023$25,556.973.72%
2024$25,416.70-0.55%*

* 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:

Year193519361937193819391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI20.30020.40020.80021.80021.30021.40023.00023.00023.00023.00023.00023.00034.50037.58041.00041.22043.36046.94047.25446.50844.87746.13848.54650.10852.24651.56951.56251.36251.05450.90849.79248.89249.34650.69251.51553.13155.27754.79254.80857.98562.98566.96970.52375.90081.92388.46993.86997.47799.877102.631106.054110.600114.385116.515119.162121.400125.985129.208132.738137.585140.954143.669144.254143.438142.862142.754142.108140.000137.854137.062137.908137.585136.254134.194135.623138.005141.883144.232145.783146.275147.135147.358146.992146.287146.834147.600156.240172.480178.899177.917

Adjust vehicles prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 2002 * 2002 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for New vehicles was 140.000 in the year 2002 and 177.917 in 2024:

177.917 / 140.000 * $20,000 = $25,416.70

Therefore, according to U.S. Bureau of Labor Statistics, $20,000 in 2002 has the same "purchasing power" as $25,416.70 in 2024 (in the CPI category of New vehicles).


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

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