June 22, 2000 (The Editor’s Desk is updated each business day.)
No rise in new vehicle prices for three years
For three years in a row, prices paid by consumers for new vehicles have not increased.
In 1997, prices of new vehicles fell by 0.9 percent—the first decline since 1971. Prices were steady in 1998 and decreased by 0.3 percent in 1999.
Dealers and manufacturers gave consumers increased rebates and concessions in 1999. Moreover, in recent years, consumers have become better informed and price savvy, using the Internet to compare styles, equipment options, and prices of vehicles conveniently from their homes.
These data are from the BLS Consumer Price Index program. To find out more about trends in consumer prices, see "Core consumer prices in 1999: low by historical standards," by Todd Wilson, Monthly Labor Review, April 2000. Annual percent changes are from December-to-December.
Happy 10th Birthday, TED!
The very first issue of The Editor's Desk (TED) was posted on September 28, 1998. TED was the first online-only publication of the Bureau of Labor Statistics. For 10 years, BLS has been committed to posting a new TED article each business day, for a total of over 2,400 articles so far.
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