Then and Now

By Wayne Brown

Do cars cost 10x as much as they did in 1970?

As part of our happy discussion about our booming Netflix stock, the subject of inflation naturally came up. It's hard to wrap your mind around it. The best comparison is for things I could actually buy. I tend to measure the cost of things in "new cars."

The following is part of the answer provided by Perplexity. It's amusing to see how Perplexity incorporates "boilerplate" explanations from the manufacturer, but the point is well taken. For this type of product, the price reflects value, especially when we consider general inflation and improvements in technology;

2020 Chevrolet Impala
The most recent model year for the Chevrolet Impala is 2020, as the model has been discontinued. The 2020 Chevrolet Impala LT 4dr Sedan had an MSRP of $31,620
2
4
. This model came with a V6 engine, offering a comfortable ride and a spacious interior, though it was noted for having limited driver assistance technology availability in the LT trim
4
.
Cost Comparison and Considerations
When comparing the original price of the 1970 Impala to the 2020 model, it's clear that the cost of a new Impala has increased significantly over the years. However, it's important to consider the advancements in safety, technology, and performance that have been made over the last 50 years. The 2020 Impala offers a more powerful engine, advanced infotainment systems, and safety features that were not available in 1970.
Inflation plays a significant role in the price increase as well. The $3,012 starting price of the 1970 Impala would be much higher in today's dollars. For a more accurate comparison, using an inflation calculator to adjust the 1970 price to 2020 dollars would provide a clearer picture of how the cost has evolved relative to the economy.
In summary, while the sticker price of the Chevrolet Impala has increased over the years, so has the value provided by advancements in automotive technology, safety, and comfort.




 

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