Fact #219: June 3, 2002
Average Price of a New Car: 1970-2001

Before 1982, import car prices were lower, on average, than domestic car prices. Since that time, the average price of an import car has always been higher than that of a domestic car. The average import car price peaked in 1998 at $31,285 (constant 2000 dollars); the domestic average that same year was only $19,522 (constant 2000 dollars). The average import car price has been declining since 1998.

Supporting Information

Average Price of a New Car, 1970-2001

	Domestica		Import		Average
Year	current $	constant 2000 $b	current $	constant 2000 $b	current $	constant 2000 $b
1970	3,708	16,457	2,648	11,752	3,542	15,720
1971	3,919	16,663	2,769	11,773	3,742	15,910
1972	4,034	16,619	2,994	12,334	3,879	15,980
1973	4,181	16,216	3,344	12,969	4,052	15,715
1974	4,524	15,802	4,206	14,691	4,440	15,508
1975	5,084	16,273	4,384	14,032	4,950	15,844
1976	5,506	16,663	4,923	14,899	5,418	16,397
1977	5,985	17,007	5,072	14,413	5,814	16,521
1978	6,478	17,109	5,934	15,672	6,379	16,848
1979	6,889	16,340	6,704	15,901	6,847	16,240
1980	7,609	15,901	7,482	15,636	7,574	15,828
1981	8,912	16,883	8,896	16,852	8,910	16,879
1982	9,865	17,604	9,957	17,768	9,890	17,648
1983	10,516	18,181	10,868	18,790	10,606	18,337
1984	11,079	18,362	12,336	20,445	11,375	18,853
1985	11,589	18,547	12,853	20,570	11,838	18,945
1986	12,319	19,355	13,670	21,478	12,652	19,878
1987	12,922	19,588	14,470	21,934	13,386	20,291
1988	13,418	19,532	15,221	22,156	13,932	20,280
1989	13,936	19,353	15,510	21,539	14,371	19,957
1990	14,489	19,090	16,640	21,924	15,042	19,818
1991	15,192	19,208	16,327	20,643	15,475	19,565
1992	15,644	19,201	18,593	22,820	16,336	20,050
1993	15,976	19,039	20,261	24,145	16,871	20,105
1994	16,930	19,672	21,989	25,550	17,903	20,802
1995	16,864	19,055	23,202	26,216	17,959	20,292
1996	17,468	19,171	26,205	28,760	18,777	20,608
1997	17,907	19,212	27,722	29,743	19,531	20,955
1998	18,479	19,522	29,614	31,285	20,364	21,513
1999	18,630	19,256	28,931	29,903	20,658	21,352
2000	18,684	18,684	27,767	27,767	20,355	20,355
2001	19,654	19,110	27,477	26,717	21,605	21,007
a Includes transplants. b Adjusted by the Consumer Price Inflation Index. Source: U.S. Department of Commerce, Bureau of Economic Analysis, National Income and Product Accounts.

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