Car Cost Inflation
BLS Consumer Price Index for Motor Vehicles
The cost of owning a car keeps climbing. Since 2014, overall vehicle ownership costs have increased by 39.0%. The biggest culprit? Auto insurance, which has jumped 41.5% in just the last 5 years.
Consumer Price Index for Motor Vehicles
Base: 1982-84 = 100
Insurance: The Runaway Cost
Auto insurance has been the fastest-rising component of car ownership. From a CPI of 478.2 in 2014 to 821.6 in 2024, insurance costs have increased by 72%. Factors include more expensive vehicles to repair, distracted driving, and increased claim frequency.
Auto Insurance CPI - Fastest Rising Cost
Insurance has increased more than any other vehicle cost
5-Year Cost Comparison
Looking at just the last 5 years shows where car costs are rising fastest. Insurance and maintenance have far outpaced general inflation.
5-Year Inflation by Category
2019 to 2024
Historical CPI Data
| Year | New Cars | Used Cars | Gas | Insurance | Maintenance |
|---|---|---|---|---|---|
| 2014 | 144.4 | 142.3 | 230.7 | 478.2 | 241.8 |
| 2015 | 143.2 | 141.8 | 178.1 | 493.3 | 246.6 |
| 2016 | 142.8 | 139.5 | 158.4 | 512.8 | 250.9 |
| 2017 | 142.9 | 139.4 | 176.9 | 533.4 | 255.1 |
| 2018 | 143.2 | 140.8 | 199.4 | 555.6 | 260.8 |
| 2019 | 142.7 | 139.2 | 193 | 580.8 | 266.4 |
| 2020 | 145.1 | 151.4 | 161.2 | 601.4 | 271.5 |
| 2021 | 154.8 | 195.7 | 220.8 | 621.1 | 282.4 |
| 2022 | 173.7 | 219.6 | 297.2 | 670.1 | 304.6 |
| 2023 | 177.4 | 199.3 | 264.2 | 744.8 | 333.2 |
| 2024 | 178.2 | 196.8 | 254.8 | 821.6 | 358.4 |
CPI Base: 1982-84 = 100
The eBike Advantage
Escape the Inflation Trap
While car costs keep rising, eBike ownership costs remain remarkably stable. No insurance required in most states, minimal maintenance (brakes, tires, chain), and electricity costs pennies per charge. A quality eBike purchased today for $1,500-3,000 will cost roughly the same to operate in 5 years as it does now.
Source: U.S. Bureau of Labor Statistics. Consumer Price Index data for private transportation. CPI measures average change over time in prices paid by consumers. Base period: 1982-84 = 100. Series: CUUR0000SETC (Private Transportation), CUUR0000SS4501 (New Vehicles), CUUR0000SETA02 (Used Vehicles), CUUR0000SETB01 (Gasoline), CUUR0000SETE (Insurance).