Value of quality changes averages $82.96 in 2004 model-year cars
November 18, 2003
The retail equivalent value of quality changes for a 15-unit sample of 2004 model-year domestic passenger cars averaged $82.96.
The $82.96 estimated retail value of quality changes break down as follows:
- $24.00 for powertrain improvements;
- $37.16 for federally mandated and non-mandated safety improvements such as changes to brake and airbags systems; and
- $21.80 for other quality changes such as emission improvements, theft protection, changes in audio systems, and changes in levels of standard or optional equipment.
The average retail equivalent value of these quality changes—$82.96—is 17.8 percent of the average $467.28 over-the-year increase in manufacturers’ suggested list prices.
Bureau of Labor Statistics, U.S. Department of Labor, The Editor's Desk, Value of quality changes averages $82.96 in 2004 model-year cars on the Internet at http://www.bls.gov/opub/ted/2003/nov/wk3/art02.htm (visited April 21, 2014).
Spotlight on Statistics: Productivity
This edition of Spotlight on Statistics examines labor productivity trends from 2000 through 2010 for selected industries and sectors within the nonfarm business sector of the U.S. economy. Read more »