November 19, 2002
The retail equivalent value of quality changes for the 2003 model year domestic light trucks averaged $232.65, or 39.9 percent of the average $583.03 over-the-year increase in manufacturer's suggested list prices.
The $232.65 value breaks down as follows: $126.80 for federally mandated and non-mandated safety improvements such as child seat tethers, head impact protection, brake improvements, and airbag changes; $105.85 for non-mandated quality changes such as powertrain improvements, theft protection, and changes in levels of standard or optional equipment.
The retail equivalent value of quality changes for the 2003 model year domestic passenger cars averaged $25.08. This represents 5.4 percent of the average $465.63 over-the-year increase in manufacturer's suggested list prices. The value of quality changes for passenger cars includes powertrain improvements, mandated and non-mandated safety improvements, and changes in levels of standard or optional equipment.
These data are from the BLS Producer Price Index program. Learn more in "Report on Quality Changes for 2003 Model Vehicles," news release USDL 02-634 (PDF 108K). Estimates of the value of quality changes were based on a sample of 15 model-year 2003 domestic passenger cars and 17 model-year 2003 light trucks included in the Producer Price Index for October.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Value of quality changes for 2003 light trucks and passenger cars on the Internet at http://www.bls.gov/opub/ted/2002/nov/wk3/art02.htm (visited January 28, 2015).
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