The research new vehicles data (R-CPI-U-NV) was first published in May 2019. This index uses data purchased from J.D. Power and includes transaction-level new vehicle prices and some detailed vehicle information. Transaction-level data includes not just price information but also real-time expenditure data.
The Bureau is considering using this index in place of the current official new vehicles index, and is actively requesting feedback from users regarding the methodology used as we evaluate next steps in potentially replacing the current official index. Researchers may use it as an alternative measure of new vehicle price change.
This research index utilizes new methods to calculate an index based on transaction data with real-time expenditure data. The index is calculated outside of the official production system. Additionally, this index differs from the official indexes in scope, formula, and aggregation. Customers should be aware of the caveats and limitations of any of these products they consider using.
The information supplied by Power Information Network, a business division of J.D. Power and Associates (“PIN”) is based on data believed to be reliable but is neither all-inclusive nor guaranteed by PIN. Without limiting the generality of the foregoing, specific data points may vary considerably from other information sources. Any opinions expressed herein reflect the judgment of the BLS researchers at this date and are subject to change.
R-CPI-U-NV data are published within three business days following the monthly CPI-U data release. See the CPI Release Calendar for publication dates.
The experimental new vehicles index methodology factsheet contains a broad overview of the research and information such as sampling and index calculation. Additional information is available in the working paper: “A New Vehicles Transaction Price Index: Offsetting the Effects of Price Discrimination and Product Cycle Bias with a Year-Over-Year Index.”
The Bureau is soliciting feedback on this index as a replacement for the current new vehicles index. We would specifically like to know whether you agree that this proposal constitutes an improvement over the existing methodology and data source, but appreciate any additional feedback on this data. Please send your feedback on the research new vehicles data and other CPI related questions to firstname.lastname@example.org.
Last Modified Date: January 18, 2022