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 Economics Daily, 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 May 27, 2016).
Recent editions of Spotlight on Statistics
Employment and Wages in Healthcare Occupations
Healthcare occupations are a significant percentage of U.S. employment. Some of the largest and highest paying occupations are in healthcare. This Spotlight examines employment and wages for healthcare occupations.
Fifty years of looking at changes in peoples lives
Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.
- A look at pay at the top, the bottom, and in between
The Spotlight examines how earnings and wages have changed over time and how they differ within a geographic area, industry, or occupation.