Household spending · Consumer Expenditure Survey · BLS CE 2024
Cars and trucks, new Spending
How much American households spend on cars and trucks, new - broken down by income, age, region, household size and tenure, from the BLS Consumer Expenditure Survey.
- Annual average (2024)
- $2,469
- Share of spending
- 3.1%
- Change vs 2023
- -14.7%
- Change vs 2020
- +18.2%
Spending Insight: Cars and trucks, new
American households spent an average of $2,469 on cars and trucks, new in 2024, representing 3.1% of total consumer expenditures. Spending declined 14.7% from 2023 ($2,896), indicating households may be cutting back or finding lower-cost alternatives.
Since 2020, cars and trucks, new spending has risen by 18.2% (from $2,089 to $2,469), broadly in line with the roughly 21% cumulative inflation over 2020–2024, so the real-terms change was modest.
Income is strongly associated with cars and trucks, new spending: the top income quintile spends $6,823/year versus $819 for the lowest quintile, a 8.3x gap. Regionally, the West spends the most ($3,089/year) while the Northeast spends the least ($2,157/year). Use the cross-cuts below, by income, region, age, household size, and housing tenure, to see which demographic factors drive this category hardest for your situation.
Spending Trend (2020–2024)
Cars and trucks, new spending per household, 2020–2024
National average annual spending
| Year | Annual Amount |
|---|---|
| 2024 | $2,469 |
| 2023 | $2,896 |
| 2022 | $2,195 |
| 2021 | $2,210 |
| 2020 | $2,089 |
How we calculate this: % of Total is this category's published spend divided by that year's total household spend. YoY Change is the percentage difference between a year's amount and the prior year's amount. Both are computed from the raw BLS figures, not re-estimated.
By Income Level (2024)
How cars and trucks, new spending varies across income quintiles
| Income Group | Annual Amount |
|---|---|
| Lowest 20% | $819 |
| Second 20% | $982 |
| Middle 20% | $1,365 |
| Fourth 20% | $2,333 |
| Highest 20% | $6,823 |
By Region (2024)
Geographic variation in cars and trucks, new spending
By Age Group (2024)
How cars and trucks, new spending changes across the lifecycle
By Household Size (2024)
| Size | Annual |
|---|---|
| 1 Person | $1,094 |
| 2 People | $3,061 |
| 3 People | $3,259 |
| 4 People | $1,993 |
| 5 or More | $3,731 |
By Housing Tenure (2024)
| Tenure | Annual |
|---|---|
| Homeowner (with mortgage) | $3,239 |
| Homeowner (no mortgage) | $3,483 |
| Renter | $2,917 |
What to do with this data
The average U.S. household spends $2,469 a year on cars and trucks, new - here's how to put that in context.
- Compare your own spending against the national income quintiles. Budget calculator
- See how cars and trucks, new spending shifts across income levels, ages, and regions. By income
- Track this category in your private watchlist to revisit as the data updates. Save categories
Figures are national averages from the BLS Consumer Expenditure Survey; your own household may differ from these means.
Frequently Asked Questions
How much does the average household spend on cars and trucks, new? ▼
Is cars and trucks, new spending increasing? ▼
How does income affect cars and trucks, new spending? ▼
Which region spends the most on cars and trucks, new? ▼
Which age group spends the most on cars and trucks, new? ▼
Does household size affect cars and trucks, new spending? ▼
Spending Guides (show related guides)
Related Spending Categories
Browse other major categories from the BLS Consumer Expenditure Survey.
Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the BLS Consumer Expenditure Survey. Consult a qualified professional before making decisions based on this data.
Read our methodology - how this data is sourced, computed, and verified.
Cite this page
Free to reuse, including commercially, under CC0 (the underlying BLS Consumer Expenditure Survey data is public domain). A link back is appreciated.
