New and used vehicles priced at $20,000 in 1993 $27,161.73 in 2024

New And Used Vehicles Inflation Calculator

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Prices for New And Used Vehicles, 1993-2024 ($20,000)

According to the U.S. Bureau of Labor Statistics, prices for new and used motor vehicles are 35.81% higher in 2024 versus 1993 (a $7,161.73 difference in value).

Between 1993 and 2024: New and used vehicles experienced an average inflation rate of 0.99% per year. In other words, new and used vehicles costing $20,000 in the year 1993 would cost $27,161.73 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.50% during this same period, inflation for new and used vehicles was lower.

Price Inflation for New and used motor vehicles since 1993

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 2021 (13.72%), 2022 (11.94%), and 1994 (4.06%).

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Buying power of $20,000.00 since 1993

Below are calculations of equivalent buying power for New and used vehicles, over time, for $20,000 beginning in 1993. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1993$20,000.00-
1994$20,812.804.06%
1995$21,652.424.03%
1996$22,002.681.62%
1997$21,903.80-0.45%
1998$21,813.31-0.41%
1999$21,809.95-0.02%
2000$21,965.810.71%
2001$22,071.390.48%
2002$21,613.88-2.07%
2003$21,017.26-2.76%
2004$20,521.20-2.36%
2005$20,826.211.49%
2006$20,827.890.01%
2007$20,545.35-1.36%
2008$20,324.90-1.07%
2009$20,367.390.21%
2010$21,165.413.92%
2011$21,736.332.70%
2012$21,918.030.84%
2013$21,989.240.32%
2014$21,959.81-0.13%
2015$21,950.66-0.04%
2016$21,832.06-0.54%
2017$21,542.06-1.33%
2018$21,596.870.25%
2019$21,667.340.33%
2020$21,934.561.23%
2021$24,943.5213.72%
2022$27,922.0911.94%
2023$27,811.60-0.40%
2024$27,161.73-2.34%*

* 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 and used motor vehicles:

Year19931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI91.80095.53199.385100.992100.538100.123100.108100.823101.30899.20896.46994.19295.59295.60094.30393.29193.48697.14999.770100.604100.931100.796100.754100.20998.87899.13099.453100.680114.491128.162127.655124.672

Adjust new and used vehicles prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1993 * 1993 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for New and used motor vehicles was 91.800 in the year 1993 and 124.672 in 2024:

124.672 / 91.800 * $20,000 = $27,161.73

Therefore, according to U.S. Bureau of Labor Statistics, $20,000 in 1993 has the same "purchasing power" as $27,161.73 in 2024 (in the CPI category of New and used motor vehicles).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for New and used motor vehicles in 1993. In addition to new and used 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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