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 https://www.bls.gov/opub/ted/2003/nov/wk3/art02.htm (visited July 26, 2017).
Recent editions of Spotlight on Statistics
Employer-sponsored healthcare coverage across wage groups
A look at the relationship between employee wages and access to, participation in, and costs of employer-sponsored medical, dental, and vision care benefit plans.
Sports and Exercise
A look at participation and time spent in sports and exercise activities.
Women at Work
A look at women's labor force participation and earnings, how women spend their time and money, the nature of fatal work injuries, and labor force projections for the future.
STEM occupations: past, present, and future
A look at employment and wages in science, technology, engineering, and mathematics occupations.