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 December 20, 2014).
Three recent editions of Spotlight on Statistics
Housing: before, during, and after the Great Recession
looks at consumer expenditures on household items, employment in residential construction, prices for household items, and injuries in occupations involved in building and maintaining our homes.
Women veterans in the labor force examines the demographic, employment, and unemployment characteristics of women veterans.
BLS Statistics by Occupation provides an overview of occupational employment and wages with an emphasis on STEM jobs and occupational data by typical entry-level education required.