<table class="regular" id="BLStable_2023_12_28_15_59" style="width: 618px;"><caption><span class="tableTitle">Chart 2. Household consumption and expenditure on automobile purchases, quarterly averages, 1996–2022</span></caption>
<thead>
<tr>
<th style="vertical-align: middle; min-width: 80px;" rowspan="1" scope="col">Period</th>
<th scope="col">Nonparametric depreciation</th>
<th scope="col">Constant geometric depreciation</th>
<th scope="col">Expenditure on automobiles</th>
</tr>
</thead>
<tbody>
<tr>
<th scope="row">
<p>Q1 1996</p>
</th>
<td>$965.89</td>
<td>$982.19</td>
<td>$963.41</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 1996</p>
</th>
<td>977.19</td>
<td>986.87</td>
<td>971.81</td>
</tr>
<tr>
<th scope="row">
<p>Q3 1996</p>
</th>
<td>964.34</td>
<td>978.41</td>
<td>943.45</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 1996</p>
</th>
<td>971.53</td>
<td>983.79</td>
<td>945.39</td>
</tr>
<tr>
<th scope="row">
<p>Q1 1997</p>
</th>
<td>987.91</td>
<td>998.49</td>
<td>963.91</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 1997</p>
</th>
<td>1001.02</td>
<td>1010.61</td>
<td>964.55</td>
</tr>
<tr>
<th scope="row">
<p>Q3 1997</p>
</th>
<td>1014.63</td>
<td>1024.30</td>
<td>959.35</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 1997</p>
</th>
<td>1016.05</td>
<td>1025.81</td>
<td>948.22</td>
</tr>
<tr>
<th scope="row">
<p>Q1 1998</p>
</th>
<td>1021.40</td>
<td>1030.48</td>
<td>971.16</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 1998</p>
</th>
<td>1028.31</td>
<td>1035.85</td>
<td>963.06</td>
</tr>
<tr>
<th scope="row">
<p>Q3 1998</p>
</th>
<td>1035.91</td>
<td>1042.33</td>
<td>998.04</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 1998</p>
</th>
<td>1051.80</td>
<td>1056.50</td>
<td>1005.55</td>
</tr>
<tr>
<th scope="row">
<p>Q1 1999</p>
</th>
<td>1059.15</td>
<td>1061.52</td>
<td>1003.17</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 1999</p>
</th>
<td>1065.75</td>
<td>1066.21</td>
<td>1010.47</td>
</tr>
<tr>
<th scope="row">
<p>Q3 1999</p>
</th>
<td>1067.27</td>
<td>1068.74</td>
<td>987.93</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 1999</p>
</th>
<td>1066.07</td>
<td>1068.37</td>
<td>1009.39</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2000</p>
</th>
<td>1070.21</td>
<td>1074.14</td>
<td>1017.94</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2000</p>
</th>
<td>1078.67</td>
<td>1083.52</td>
<td>1014.39</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2000</p>
</th>
<td>1086.39</td>
<td>1092.66</td>
<td>1017.56</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2000</p>
</th>
<td>1093.57</td>
<td>1101.21</td>
<td>997.10</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2001</p>
</th>
<td>1097.47</td>
<td>1106.77</td>
<td>994.54</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2001</p>
</th>
<td>1101.82</td>
<td>1111.82</td>
<td>1021.58</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2001</p>
</th>
<td>1110.69</td>
<td>1119.49</td>
<td>1056.13</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2001</p>
</th>
<td>1122.14</td>
<td>1129.30</td>
<td>1058.73</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2002</p>
</th>
<td>1139.83</td>
<td>1144.00</td>
<td>1053.70</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2002</p>
</th>
<td>1151.79</td>
<td>1153.08</td>
<td>1049.09</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2002</p>
</th>
<td>1163.58</td>
<td>1164.29</td>
<td>1047.52</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2002</p>
</th>
<td>1148.40</td>
<td>1148.08</td>
<td>1075.89</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2003</p>
</th>
<td>1133.26</td>
<td>1130.81</td>
<td>1128.39</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2003</p>
</th>
<td>1125.26</td>
<td>1120.82</td>
<td>1164.31</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2003</p>
</th>
<td>1109.69</td>
<td>1106.78</td>
<td>1180.42</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2003</p>
</th>
<td>1124.57</td>
<td>1123.29</td>
<td>1160.12</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2004</p>
</th>
<td>1134.65</td>
<td>1135.47</td>
<td>1136.52</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2004</p>
</th>
<td>1136.82</td>
<td>1140.28</td>
<td>1134.52</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2004</p>
</th>
<td>1140.80</td>
<td>1144.81</td>
<td>1152.60</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2004</p>
</th>
<td>1135.01</td>
<td>1139.48</td>
<td>1176.68</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2005</p>
</th>
<td>1133.85</td>
<td>1137.49</td>
<td>1207.52</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2005</p>
</th>
<td>1137.49</td>
<td>1140.57</td>
<td>1208.18</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2005</p>
</th>
<td>1133.08</td>
<td>1136.04</td>
<td>1175.17</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2005</p>
</th>
<td>1134.37</td>
<td>1138.60</td>
<td>1149.49</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2006</p>
</th>
<td>1122.48</td>
<td>1130.83</td>
<td>1101.67</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2006</p>
</th>
<td>1101.65</td>
<td>1114.19</td>
<td>1069.14</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2006</p>
</th>
<td>1081.14</td>
<td>1092.80</td>
<td>1052.21</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2006</p>
</th>
<td>1056.73</td>
<td>1067.20</td>
<td>1030.26</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2007</p>
</th>
<td>1042.34</td>
<td>1052.28</td>
<td>984.27</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2007</p>
</th>
<td>1033.30</td>
<td>1043.42</td>
<td>962.23</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2007</p>
</th>
<td>1037.87</td>
<td>1049.86</td>
<td>939.58</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2007</p>
</th>
<td>1044.70</td>
<td>1059.10</td>
<td>911.84</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2008</p>
</th>
<td>1050.35</td>
<td>1067.48</td>
<td>905.35</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2008</p>
</th>
<td>1053.54</td>
<td>1073.45</td>
<td>865.44</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2008</p>
</th>
<td>1044.93</td>
<td>1066.10</td>
<td>857.29</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2008</p>
</th>
<td>1038.40</td>
<td>1061.10</td>
<td>853.36</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2009</p>
</th>
<td>1034.97</td>
<td>1059.10</td>
<td>869.15</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2009</p>
</th>
<td>1033.73</td>
<td>1059.61</td>
<td>893.27</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2009</p>
</th>
<td>1045.08</td>
<td>1070.16</td>
<td>894.71</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2009</p>
</th>
<td>1043.23</td>
<td>1067.92</td>
<td>906.53</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2010</p>
</th>
<td>1033.33</td>
<td>1057.24</td>
<td>900.06</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2010</p>
</th>
<td>1022.29</td>
<td>1044.22</td>
<td>922.69</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2010</p>
</th>
<td>1014.03</td>
<td>1035.09</td>
<td>925.08</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2010</p>
</th>
<td>1009.25</td>
<td>1028.69</td>
<td>937.76</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2011</p>
</th>
<td>1008.57</td>
<td>1026.84</td>
<td>945.26</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2011</p>
</th>
<td>1014.10</td>
<td>1031.51</td>
<td>930.15</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2011</p>
</th>
<td>1032.26</td>
<td>1051.11</td>
<td>974.62</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2011</p>
</th>
<td>1049.34</td>
<td>1069.27</td>
<td>1014.88</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2012</p>
</th>
<td>1069.45</td>
<td>1089.08</td>
<td>1064.32</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2012</p>
</th>
<td>1085.04</td>
<td>1103.20</td>
<td>1133.38</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2012</p>
</th>
<td>1076.87</td>
<td>1095.09</td>
<td>1144.73</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2012</p>
</th>
<td>1084.98</td>
<td>1103.48</td>
<td>1151.05</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2013</p>
</th>
<td>1085.53</td>
<td>1105.59</td>
<td>1142.09</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2013</p>
</th>
<td>1085.32</td>
<td>1108.29</td>
<td>1138.97</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2013</p>
</th>
<td>1095.78</td>
<td>1117.68</td>
<td>1159.57</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2013</p>
</th>
<td>1104.70</td>
<td>1126.33</td>
<td>1145.10</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2014</p>
</th>
<td>1115.26</td>
<td>1135.64</td>
<td>1152.88</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2014</p>
</th>
<td>1131.27</td>
<td>1149.25</td>
<td>1147.50</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2014</p>
</th>
<td>1150.00</td>
<td>1168.77</td>
<td>1152.59</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2014</p>
</th>
<td>1160.71</td>
<td>1178.60</td>
<td>1221.04</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2015</p>
</th>
<td>1175.05</td>
<td>1190.78</td>
<td>1277.82</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2015</p>
</th>
<td>1188.49</td>
<td>1203.50</td>
<td>1317.09</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2015</p>
</th>
<td>1196.41</td>
<td>1211.06</td>
<td>1321.20</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2015</p>
</th>
<td>1205.87</td>
<td>1220.60</td>
<td>1302.22</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2016</p>
</th>
<td>1221.65</td>
<td>1237.62</td>
<td>1283.03</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2016</p>
</th>
<td>1239.43</td>
<td>1255.62</td>
<td>1273.32</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2016</p>
</th>
<td>1255.55</td>
<td>1272.59</td>
<td>1298.07</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2016</p>
</th>
<td>1283.02</td>
<td>1301.17</td>
<td>1338.58</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2017</p>
</th>
<td>1309.69</td>
<td>1327.74</td>
<td>1367.69</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2017</p>
</th>
<td>1343.08</td>
<td>1358.60</td>
<td>1414.47</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2017</p>
</th>
<td>1369.72</td>
<td>1384.99</td>
<td>1457.68</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2017</p>
</th>
<td>1388.27</td>
<td>1402.48</td>
<td>1450.34</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2018</p>
</th>
<td>1404.69</td>
<td>1417.37</td>
<td>1445.22</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2018</p>
</th>
<td>1409.79</td>
<td>1423.82</td>
<td>1435.93</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2018</p>
</th>
<td>1413.04</td>
<td>1425.95</td>
<td>1417.69</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2018</p>
</th>
<td>1407.99</td>
<td>1420.83</td>
<td>1416.50</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2019</p>
</th>
<td>1404.12</td>
<td>1417.51</td>
<td>1467.07</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2019</p>
</th>
<td>1410.13</td>
<td>1423.39</td>
<td>1507.60</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2019</p>
</th>
<td>1421.52</td>
<td>1436.70</td>
<td>1504.54</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2019</p>
</th>
<td>1425.15</td>
<td>1441.75</td>
<td>1521.04</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2020</p>
</th>
<td>1414.92</td>
<td>1433.26</td>
<td>1505.51</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2020</p>
</th>
<td>1408.42</td>
<td>1427.68</td>
<td>1543.57</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2020</p>
</th>
<td>1395.36</td>
<td>1428.49</td>
<td>1581.08</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2020</p>
</th>
<td>1390.79</td>
<td>1442.26</td>
<td>1638.87</td>
</tr>
<tr>
<th scope="row">
<p>Q1 2021</p>
</th>
<td>1389.19</td>
<td>1466.42</td>
<td>1698.50</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q2 2021</p>
</th>
<td>1379.03</td>
<td>1489.57</td>
<td>1676.13</td>
</tr>
<tr>
<th scope="row">
<p>Q3 2021</p>
</th>
<td>1383.91</td>
<td>1505.57</td>
<td>1669.03</td>
</tr>
<tr class="greenbar">
<th scope="row">
<p>Q4 2021</p>
</th>
<td>1390.94</td>
<td>1518.65</td>
<td>1664.50</td>
</tr>
</tbody>
<tfoot id="BLStable_2023_12_28_15_59_footnotes" style="display: table-footer-group;">
<tr class="footnotes">
<td class="footnotes" colspan="4">
<p>Note: All national average series are based on authors' calculations using data from the Consumer Expenditure Surveys. Both the nonparametric-depreciation series (nonlinear) and the constant-geometric-depreciation series (linear) include depreciation, interest components (opportunity cost), and recurring expenditures, such as maintenance and repair, vehicle insurance, and other operating costs spent on inspection, registration, and property tax. The expenditure series includes automobile net purchase prices and recurring costs, but the interest component is not included for comparison purposes. These data sets are seasonally adjusted and adjusted for business use.</p>
<p>Source: U.S. Bureau of Labor Statistics.</p>
</td>
</tr>
</tfoot>
</table>