Determinants of US Transit Bus Prices
Using data from the American Public Transportation Association's 2024 Public Transportation Vehicle Database, this paper estimates statistical models to explain the real prices of single-deck, rigid US transit buses in terms of their attributes. Non-electric bus prices have risen by 0.7% per ye...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Findings Press
2025-05-01
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| Series: | Findings |
| Online Access: | https://doi.org/10.32866/001c.133936 |
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| Summary: | Using data from the American Public Transportation Association's 2024 Public Transportation Vehicle Database, this paper estimates statistical models to explain the real prices of single-deck, rigid US transit buses in terms of their attributes. Non-electric bus prices have risen by 0.7% per year faster than inflation since 2010, while electric bus' real prices have fallen by about 3% annually. The elasticity of price with respect to length is only 0.36, such that a 30 ft. (9.1 m) bus is only 10% cheaper than a 40 ft. (12.2 m) bus. High-floor buses are 3.4\% cheaper than standard low-floor models. CNG, diesel-electric hybrid and battery electric buses cost, respectively, about 11%, 44% and 66% more than diesel buses. BYD buses are substantially cheaper than those of other manufacturers. The sample of buses is fairly homogeneous except for power type. |
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| ISSN: | 2652-8800 |