Cars and trucks, new Spending
How much American households spend on cars and trucks, new — 2024 data from the BLS Consumer Expenditure Survey
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 tracking with inflation-adjusted cost changes.
Income is the strongest predictor of 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)
| Year | Annual Amount |
|---|---|
| 2024 | $2,469 |
| 2023 | $2,896 |
| 2022 | $2,195 |
| 2021 | $2,210 |
| 2020 | $2,089 |
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 |
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
Related Spending Categories
Browse other major categories from the BLS Consumer Expenditure Survey.
Related Economic Data
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.
