Vehicle purchases (net outlay) Spending
How much American households spend on vehicle purchases (net outlay) — 2024 data from the BLS Consumer Expenditure Survey
Spending Insight: Vehicle purchases (net outlay)
American households spent an average of $5,337 on vehicle purchases (net outlay) in 2024, representing 6.8% of total consumer expenditures. Spending declined 3.6% from 2023 ($5,539), indicating households may be cutting back or finding lower-cost alternatives.
Since 2020, vehicle purchases (net outlay) spending has risen by 18% (from $4,523 to $5,337), broadly tracking with inflation-adjusted cost changes. The category breaks into 2 subcategories, each with its own spending dynamic — drill into any row below to see the finer-grained picture.
Income is the strongest predictor of vehicle purchases (net outlay) spending: the top income quintile spends $11,938/year versus $1,718 for the lowest quintile — a 6.9x gap. Regionally, the West spends the most ($6,127/year) while the Northeast spends the least ($4,076/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 | $5,337 |
| 2023 | $5,539 |
| 2022 | $4,496 |
| 2021 | $4,828 |
| 2020 | $4,523 |
Subcategories
| Subcategory | Annual Amount (2024) |
|---|---|
| Cars and trucks, new | $2,469 |
| Cars and trucks, used | $2,818 |
By Income Level (2024)
How vehicle purchases (net outlay) spending varies across income quintiles
| Income Group | Annual Amount |
|---|---|
| Lowest 20% | $1,718 |
| Second 20% | $2,925 |
| Middle 20% | $4,121 |
| Fourth 20% | $5,945 |
| Highest 20% | $11,938 |
By Region (2024)
Geographic variation in vehicle purchases (net outlay) spending
By Age Group (2024)
How vehicle purchases (net outlay) spending changes across the lifecycle
By Household Size (2024)
| Size | Annual |
|---|---|
| 1 Person | $2,490 |
| 2 People | $6,561 |
| 3 People | $5,820 |
| 4 People | $6,444 |
| 5 or More | $8,022 |
By Housing Tenure (2024)
| Tenure | Annual |
|---|---|
| Homeowner (with mortgage) | $6,513 |
| Homeowner (no mortgage) | $7,335 |
| Renter | $5,430 |
Frequently Asked Questions
How much does the average household spend on vehicle purchases (net outlay)? ▼
Is vehicle purchases (net outlay) spending increasing? ▼
How does income affect vehicle purchases (net outlay) spending? ▼
Which region spends the most on vehicle purchases (net outlay)? ▼
Which age group spends the most on vehicle purchases (net outlay)? ▼
Does household size affect vehicle purchases (net outlay) spending? ▼
Spending Guides
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Browse other major categories from the BLS Consumer Expenditure Survey.
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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.
