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Fact #520: May 26, 2008
Average Price of a New Car, 1970-2006

Before 1982, import car prices were less, on average, than domestic car prices. Since that time, the average price of an import car has always been more than that of a domestic car. The average import car price peaked in 1998 at $36,627 (constant 2006 dollars) while the domestic average that same year was only $22,855 (constant 2006 dollars). The average import car price has been declining since 1998.

Supporting Information

Average Price of a New Car, 1970–2006

	Domestic		Import		Average
Year	Current Dollars	Constant 2006 Dollars	Current Dollars	Constant 2006 Dollars	Current Dollars	Constant 2006 Dollars
1970	3,708	19,266	2,648	13,759	3,542	18,404
1971	3,919	19,508	2,769	13,783	3,742	18,627
1972	4,034	19,456	2,994	14,440	3,879	18,708
1973	4,181	18,984	3,344	15,184	4,052	18,398
1974	4,524	18,500	4,026	16,463	4,440	18,156
1975	5,084	19,051	4,384	16,428	4,950	18,549
1976	5,506	19,508	4,923	17,442	5,418	19,196
1977	5,985	19,910	5,072	16,873	5,814	19,342
1978	6,478	20,030	5,934	18,348	6,379	19,724
1979	6,889	19,130	6,704	18,616	6,847	19,013
1980	7,609	18,616	7,482	18,305	7,574	18,531
1981	8,912	19,765	8,896	19,730	8,910	19,761
1982	9,865	20,609	9,957	20,801	9,890	20,661
1983	10,516	21,285	10,868	21,998	10,606	21,468
1984	11,079	21,497	12,336	23,936	11,375	22,071
1985	11,589	21,713	12,853	24,081	11,838	22,180
1986	12,319	22,660	13,670	25,145	12,652	23,272
1987	12,922	22,932	14,470	25,679	13,386	23,755
1988	13,418	22,866	15,221	25,939	13,932	23,742
1989	13,936	22,657	15,510	25,216	14,371	23,364
1990	14,489	22,349	16,640	25,667	15,042	23,202
1991	15,192	22,487	16,327	24,167	15,475	22,906
1992	15,644	22,479	18,593	26,717	16,336	23,474
1993	15,976	22,289	20,261	28,267	16,871	23,538
1994	16,930	23,030	21,989	29,912	17,903	24,354
1995	16,864	22,308	23,202	30,692	17,959	23,757
1996	17,468	22,445	26,205	33,671	18,777	24,126
1997	17,907	22,493	27,722	34,821	19,531	24,532
1998	18,479	22,855	29,614	36,627	20,364	25,186
1999	18,339	22,192	28,695	34,723	20,381	24,663
2000	18,577	21,749	27,447	32,133	20,600	24,117
2001	18,755	21,350	27,539	31,349	20,945	23,843
2002	18,897	21,176	27,440	30,750	21,249	23,812
2003	18,536	20,309	28,139	30,831	21,169	23,194
2004	18,909	20,180	28,408	30,318	21,636	23,091
2005	19,907	20,549	29,700	30,658	22,700	23,432
2006	20,044	20,044	28,739	28,739	22,651	22,651
Note: Domestic includes transplants. The constant dollar values were adjusted by the Consumer Price Index. Source: U.S. Department of Commerce, Bureau of Economic Analysis, National Income and Product Accounts.

 

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