The Benz Patent-Motorwagen ("patent motorcar"), built in 1885 by Carl Benz, is widely regarded as the world's first production automobile; that is, a self-propelled vehicle for carrying people. The original cost of the vehicle in 1885 was 600 imperial German marks, approximately 150 US dollars (equivalent to $4,321 in 2020).The vehicle was awarded the German patent number 37435, for which Karl Benz applied on 29 January 1886. Following official procedures, the date of the application became the patent date for the invention once the patent was granted, which occurred in November of that year.