U.S. Department of Energy - Energy Efficiency and Renewable Energy

Vehicle Technologies Office

Fact #541: October 20, 2008
New Car Prices: The Past 100 Years

When adjusted for inflation, the average price of a new car in 2006 ($23,296) was very close to the average price in 1915 ($25,786). Average new car prices were at their lowest in 1940 ($11,499). Looking at the data after 1914, the highest average price was in the year 1998 ($25,904).

Average Price of a New Car, 1906-2006
Graphic showing the average price of a new car in constant 2007 dollars from 1906 to 2006. For more detailed information, see the table below.

Supporting Information

Average Price of a New Car, 1906-2006
Year 2007 Constant
Dollars		 Year 207 Constant
Dollars
1906 $36,588 1958 $20,505
1908 $32,755 1959 $20,292
1910 $27,877 1960 $19,284
1912 $28,922 1961 $18,134
1913 $29,967 1962 $17,803
1914 $31,013 1963 $17,387
1915 $25,786 1964 $17,256
1916 $20,559 1965 $16,719
1917 $18,991 1966 $16,498
1918 $17,423 1967 $16,370
1919 $17,249 1968 $16,659
1920 $17,074 1969 $16,452
1921 $18,120 1970 $16,519
1922 $19,165 1971 $17,139
1923 $17,423 1972 $17,074
1924 $15,681 1973 $16,361
1925 $15,506 1974 $16,831
1926 $15,332 1975 $17,421
1927 $15,158 1976 $17,928
1928 $14,984 1977 $17,996
1929 $14,809 1978 $18,673
1930 $14,635 1979 $17,910
1931 $16,378 1980 $17,785
1932 $18,120 1981 $19,494
1933 $17,074 1982 $20,590
1934 $16,029 1983 $21,697
1935 $14,287 1984 $22,700
1936 $12,544 1985 $22,811
1937 $12,893 1986 $23,935
1938 $13,241 1987 $24,432
1939 $12,370 1988 $24,418
1940 $11,499 1989 $24,030
1941 $11,921 1990 $23,863
1942 $12,342 1991 $23,558
1943 $12,763 1992 $24,142
1944 $13,185 1993 $24,208
1945 $13,606 1994 $25,048
1946 $14,027 1995 $24,433
1947 $14,449 1996 $24,814
1948 $14,944 1997 $25,231
1949 $17,197 1998 $25,904
1950 $17,405 1999 $25,365
1951 $17,481 2000 $24,804
1952 $18,700 2001 $24,522
1953 $18,490 2002 $24,490
1954 $17,929 2003 $23,854
1955 $17,609 2004 $23,748
1956 $17,891 2005 $24,100
1957 $19,627 2006 $23,296

Note: Estimations were used for years 1941-1946.
Source: Compiled by Jacob Ward, Vehicle Technologies Office, U.S. Department of Energy, from the following sources. Raff, D.M.G. & Trajtenberg, M. (1995), "Quality-Adjusted Prices for the American Automobile Industry: 1906-1940," National Bureau of Economic Research, Inc.; Gordon, R.J. (1990), The Measurement of Durable Goods Prices, National Bureau of Economic Research, Inc.; and U.S. Dept. of Commerce, Bureau of Economic Analysis (2007), National Income and Product Accounts.

 

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