Chapter 1: Automobile Insurance Average New Car Expenditures- 1994-1998
Consumer expenditures for new cars are on the rise, especially for imports. Listed below are the consumer expenditures for domestic and import cars for 1994 through 1998. These expenditures do not include items such as taxes, destination charges, dealer costs, etc. The "average" figures are a weighted measure based on the number of vehicles sold and other factors. The change column indicates the percentage change from the previous year.
Year Domestic Change Import Change Average Change 1994 $17,575 - $23,211 - $18,657 - 1995 $17,767 1.1% $24,617 6.1% $18,957 1.6% 1996 $18,199 2.4% $27,695 12.5% $19,620 3.5% 1997 $18,535 1.9% $29,745 7.4% $20,384 3.9% 1998 $18,448 - 0.5% $31,551 6.1% $20,679 1.5%
Change in new car expenditures: 1994-1998 Domestic 4.97%; Import 35.93%; Average 10.84% Source: Ward's Motor Vehicle Facts & Figures 1999
	Car leases account for about one-third of new vehicle sales. (The New York Times, 6/11/99)