The Federal Reserve Board eagle logo links to home page
Skip to: [Printable Version (PDF)] [Bibliography] [Footnotes]
Finance and Economics Discussion Series: 2009-12 Screen Reader version ♣

Heterogeneous Car Buyers: A Stylized Fact

Ana Aizcorbe, Benjamin Bridgman, Jeremy Nalewaik


Figure 1 data: Price Contours, 2000-2003 Model Year Vehicles
Date1st Mean Prices by Model Year2nd Mean Prices by Model Year3rd Mean Prices by Model Year4th Mean Prices by Model Year
1999, Q323499.580465   
1999, Q423316.206472   
2000, Q122952.044462   
2000, Q222207.503876   
2000, Q322218.62454524311.676441  
2000, Q422285.20968523565.940094  
2001, Q1 23083.048097  
2001, Q2 22961.652871  
2001, Q3 22402.20685525042.58458 
2001, Q4 22853.83589224067.64322 
2002, Q1  23334.685987 
2002, Q2  23279.213033 
2002, Q3  22936.75001825542.43694
2002, Q4  22389.78292324748.188671
2003, Q1   23937.600609
2003, Q2   23189.250747
2003, Q3   22854.619695
2003, Q4   22436.99876
Return to Figure 1

Figure 2 data: JDPower and NOP World Transaction Counts, 2000-2003 Model Year Vehicles
Date1st JDPower Transaction Counts by Model Year2nd JDPower Transaction Counts by Model Year3rd JDPower Transaction Counts by Model Year4th JDPower Transaction Counts by Model Year1st NOP World Transaction Counts2nd NOP World Transaction Counts3rd NOP World Transaction Counts4th NOP World Transaction Counts
1999, Q350978   685   
1999, Q4196911   1641   
2000, Q1276196   2268   
2000, Q2303721   1823   
2000, Q329154061075  3192738  
2000, Q480360243850  16742022  
2001, Q1 356021   3167  
2001, Q2 430427   3113  
2001, Q3 372541110297  2912978 
2001, Q4 110151414487  17022903 
2002, Q1  436488   3307 
2002, Q2  487892   3421 
2002, Q3  46543996103  3095739
2002, Q4  95289330241  14992108
2003, Q1   463069   3048
2003, Q2   523042   3118
2003, Q3   497705   3005
2003, Q4   136035   1500
Return to Figure 2

Figure 3 data: Price and Income Contours, 2000-2003 Model Year Vehicles
Date1st Mean Prices by Model Year2nd Mean Prices by Model Year3rd Mean Prices by Model Year4th Mean Prices by Model Year1st Mean Buyer Incomes1st lower SE bands1st upper SE bands2nd Mean Buyer Incomes2nd lower SE bands2nd upper SE bands3rd Mean Buyer Incomes3rd lower SE bands3rd upper SE bands4th Mean Buyer Incomes4th lower SE bands4th upper SE bands
1999, Q323499.580465   72094.89051168671.71807731275518.062944688         
1999, Q423316.206472   74213.89396771885.76978696876542.018147032         
2000, Q122952.044462   70938.60229369075.536250705272801.6683352948         
2000, Q222207.503876   69264.94788867146.41951452871383.476261472         
2000, Q322218.62454524311.676441  66060.07205564635.039864423667485.104245576476180.55555672850.3807168279510.73039518      
2000, Q422285.20968523565.940094  64097.22222262207.174669000865987.269774999273453.88229571443.68485789275464.079732108      
2001, Q1 23083.048097     73218.34543771581.427580526874855.2632934732      
2001, Q2 22961.652871     70042.16190268528.516384918471555.8074190816      
2001, Q3 22402.20685525042.58458    66706.73076965154.982935708468258.478602291674179.44785371335.47276609677023.422939904   
2001, Q4 22853.83589224067.64322    68316.68625166224.64922870870408.72327329275012.91767173388.02209196676637.813250034   
2002, Q1  23334.685987       74202.4493572669.935399488475734.9633005116   
2002, Q2  23279.213033       73397.03303171852.548033744874941.5180282552   
2002, Q3  22936.75001825542.43694      70529.0791668986.452767240872071.705552759278704.33017675045.25454409682363.405807904
2002, Q4  22389.78292324748.188671      69138.59239566866.01271670871411.17207329277212.99810275188.88950844479237.106695556
2003, Q1   23937.600609         73942.33923972251.907627751275632.7708502488
2003, Q2   23189.250747         73136.22514471511.72849552674760.721792474
2003, Q3   22854.619695         71117.30449369504.040408741672730.5685772584
2003, Q4   22436.99876         69060.83333366832.46909890471289.197567096
Return to Figure 3

Figure 4 data: Cumulative Distribution Functions, Cumulative Purchases Over Model Year, by Selected Income Classes
 Income from $20,000 to $25,000 (10th percentile)Income from $50,000 to $60,000 (50th percentile)Income from $100,000 to $150,000 (90th percentile)
Year prior: Q10.14079549450.24650780610.3043478261
Year prior: Q20.49278423091.04081073681.3152173913
Year prior: Q34.96304118276.82004930167.5543478261
Year prior: Q418.831397395722.623938646624.7500000001
Year of: Q142.837029215746.768008764650.2608695651
Year of: Q264.660330869767.529443987671.1195652171
Year of: Q387.398803238789.468638728690.4239130431
Year of: Q4100.000000000799.999999999699.9999999996
Return to Figure 4

Figure 5 data: Income Contours with Standard Errors, 2000-2003 Model Year Vehicles
Date1st Mean Buyer Incomes by Model Year2nd Mean Buyer Incomes by Model Year3rd Mean Buyer Incomes by Model Year4th Mean Buyer Incomes by Model YearMean Buyer Income (over all model years)
1999, Q372094.890511   67190.836299
1999, Q474213.893967   70727.597145
2000, Q170938.602293   70932.974989
2000, Q269264.947888   69231.820667
2000, Q366060.07205576180.555556  67960.559796
2000, Q464097.22222273453.882295  69216.044372
2001, Q1 73218.345437  73354.114713
2001, Q2 70042.161902  70870.481005
2001, Q3 66706.73076974179.447853 68585.475578
2001, Q4 68316.68625175012.917671 72538.002172
2002, Q1  74202.44935 74409.124629
2002, Q2  73397.033031 73755.554013
2002, Q3  70529.0791678704.33017672104.85133
2002, Q4  69138.59239577212.99810273857.429997
2003, Q1   73942.33923974237.171159
2003, Q2   73136.22514473956.605223
2003, Q3   71117.30449373396.423752
2003, Q4   69060.83333374135.561343
Return to Figure 5

Figure 6 data: De-Meaned Price and Income Contours, with Standard Errors for Income, 2000-2003 Model Year Vehicles
Date1st Normalized Price Means2nd Normalized Price Means3rd Normalized Price Means4th Normalized Price Means1st Normalized Mean Buyer Income1st lower SE band1st upper SE band2nd Normalized Mean Buyer Income2nd lower SE band2nd upper SE band3rd Normalized Mean Buyer Income3rd lower SE band3rd upper SE band4th Normalized Mean Buyer Income4th lower SE band4th upper SE band
1999, Q3407.83813388   2221.5920514-904.7119066085347.896009408         
1999, Q4250.47363881   3718.54456381552.782104665884.30702294         
2000, Q1202.46681089   1699.0711324-29.88361193920013428.0258767392         
2000, Q2136.21464221   1127.1866707-813.35783555283067.7311769528         
2000, Q3-229.9771925599.98974684  -2141.308847-3464.8560479536-817.76164604642313.9355627-739.466774885367.33790028      
2000, Q4-430.9559582383.38942421  -4085.945782-5876.1530235556-2295.73854044442381.3222476509.259676694253.38481851      
2001, Q1 90.145070069     2431.3907911905.15325607643957.6283261236      
2001, Q2 -61.45801177     -601.3315276-1985.5500961972782.8870409972      
2001, Q3 -398.6921621618.2433978    -3364.338878-4808.6126464928-1920.0651095072-241.7236946-2924.1093015922440.661912392   
2001, Q4 -82.5737676642.97845383    -1386.826296-3346.2609690644572.60837706441762.1523753242.80587089843281.4988797016   
2002, Q1  -41.88898927       1237.7352767-205.54688714242681.0174405424   
2002, Q2  -272.1233544       -121.9077293-1566.05157686041322.2361182604   
2002, Q3  -173.80099151108.9366114      -1913.322139-3354.1674915452-472.47678645481799.2865606-1675.736189765274.30931096
2002, Q4  -680.8713467689.48868858      -2607.011222-4773.843749216-440.1786947842376.6690277472.14210598164281.1959494184
2003, Q1   177.52395216         -106.9703984-1689.01673787081475.0759410708
2003, Q2   -56.02433426         462.0776224-1078.81711186842002.9723566684
2003, Q3   -495.9369903         -1417.226939-2919.606581744485.1527037444
2003, Q4   -926.0028173         -2724.741125-4832.4958181-616.9864319
Return to Figure 6

♣ This version is optimized for use by screen readers. Descriptions for all mathematical expressions are provided in LaTex format. A printable pdf version is available. Return to Text
Home | Economic Research and Data | Accessibility | Contact us
Last update: February 17, 2009