December 01, 2009
The retail equivalent value of quality changes for the 2010 model year domestic passenger cars averaged $271.42. This change represents 38.0 percent of the average $713.99 over-the-year increase in manufacturer's suggested list prices.
The retail equivalent value of quality changes for the 2010 model year domestic light trucks averaged $(‑2.92). The average over-the-year increase in manufacturer's suggested list prices was $752.81.
The $(‑2.92) estimated retail value of quality change breaks down as follows: $45.50 for mandated and non-mandated safety changes such as improvements to headrests and airbags; $(‑48.42) for other quality changes such as changes in audio systems, powertrains, and changes in levels of standard or optional equipment.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Value of quality changes for 2010 passenger cars and light trucks on the Internet at http://www.bls.gov/opub/ted/2009/ted_20091201.htm (visited November 24, 2015).
Fifty years of looking at changes in peoples lives
Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.