Changes in prices for new and used vehicles
June 13, 2006
In 2005, new vehicle prices declined, and used vehicle prices rose—but by less than in 2004.
The new vehicles price index decreased 0.4 percent last year, compared with a 0.6-percent rise in 2004. New car prices rose, while new truck prices decreased. Sharply rising gasoline prices led to increased demand for smaller, more fuel-efficient vehicles, such as hybrids. Simultaneously, consumer demand for new light trucks, including sport utility vehicles, decreased.
The used cars and trucks index increased 1.4 percent last year, compared with a 4.8-percent rise in 2004.
These data are from the Consumer Price Index program. To learn more about changes in the prices of goods and services purchased by consumers, see "Consumer prices rose 3.4 percent in 2005, about the same as last year," by Todd Wilson, Monthly Labor Review, May 2006. Annual percent changes are December-to-December changes.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Changes in prices for new and used vehicles on the Internet at http://www.bls.gov/opub/ted/2006/jun/wk2/art02.htm (visited May 05, 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.