The Other Side of Sticker Shock.(Column)

Byline: Rich Ceppos

I learned to drive in a 1967 Pontiac GTO. But this isn't about the rubber I burned or the street racing I did or the tickets I got. It's about the cost. The window sticker.

That GTO belonged to my mother, but even so it was a great car. It had a thumping 6.6-liter V8 of 335 hp (I'm guessing about 275 of today's SAE net ponies), a three-speed automatic with Hurst ratchet shifter and a limited-slip differential. It boomed and burbled through dual exhausts. It thrilled a teenage, car-crazed kid and his hormonally challenged friends. It also surprised quite a few muscle cars in stoplight drag races. It cost about $3,200.

Today there's a new GTO. Drive one and tell me it's not a great car, too. It has a little more power-350 hp-than my first GTO, but it's got a lot more of everything else. The only thing is, it costs 10 times what my old Goat did.

Ten times! Shouldn't we be up in arms? Inflation from 1967 to today, according to the Department of Labor, has revved up by about 460 percent. In today's dollars, that GTO of my fond memories would cost about $18,000.

So how come a new GTO costs 32 grand? Okay, it's packed with all kinds of safety and emissions gear, delivers far better ride and handling, superior fuel economy and more speed. It has standard features galore and build quality unheard of back in the day. Still, does that justify such a large increase?

Remember sticker shock? That term from a few years ago when everyone was sure car prices were soaring out of sight? Guess what? It never happened. And it's not happening now, despite this GTO example. Fact: Automobiles are in a delirious deflationary spiral.