Driving Costs Edged Up In 3rd Quarter, AAA Says
15 October 1997
Driving Costs Edged Up In 3rd Quarter, AAA SaysORLANDO, Fla., Oct. 15 -- The cost of owning and operating a new vehicle was up slightly in the third quarter, rising .3 cent to 45.1 cents per mile, according to AAA. Motorists now spend an average of $6,795 per year in driving-related expenses, based on 15,000 miles of driving. Driving costs during the second quarter were unchanged from AAA's initial 1997 driving cost figure of 44.8 cents per mile. AAA's study of driving costs is updated quarterly from computations made by Runzheimer International of Rochester, Wisc. The management consulting firm specializes in transportation, travel and living costs. The average per-mile cost is determined by combining operating and fixed costs. During the third quarter of this year, motorists spent an average of 10.8 cents per mile on operating costs such as gasoline, oil, tires and maintenance, up .1 cent from July. Fixed costs, including insurance, depreciation, registration, taxes and financing, averaged $14.11 per day, up 6 cents. AAA's cost estimates are based on a composite national average of three domestically built cars: a compact Chevrolet Cavalier, a mid-size Ford Taurus and a full-size Mercury Grand Marquis. New England was the most expensive region in which to own and operate a car in the third quarter, with total costs of 46.8 cents per mile. Southeast motorists had the lowest costs, paying 43.8 cents per mile. Other regional costs were: Mid-Atlantic, 45.6 cents; West, 45.9 cents; Southwest, 45.1 cents; Great Lakes, 44.9 cents; and Midwest, 43.9 cents. These costs are significantly different from typical reimbursement payments for business-related use of a personal vehicle. Such payments usually cover operating costs for actual mileage and only the portion of the fixed ownership costs related to the business use of the vehicle. AAA is a not-for-profit federation of 97 clubs with more than 1,000 offices providing 40 million members in the United States and Canada with travel, insurance, financial and auto-related services. AAA's "YOUR DRIVING COSTS" -- QUARTERLY UPDATE 1997 1997 REGION 2nd quarter 3rd quarter Change cost per mile cost per mile NEW ENGLAND CT,ME,MA 46.3 cents 46.8 cents +.5 cent NH,RI,VT MID ATLANTIC DE,MD,NJ,NY, 45.4 cents 45.6cents +.2 cent PA,VA,WV GREAT LAKES IL,IN,MI, 44.1 cents 44.9 cents +.8 cent OH,WI MIDWEST IA,KS,MN,MO, 43.8 cents 43.9 cents +.1 cent NE,ND,SD SOUTHEAST AL,AR,FL,GA, 44.0 cents 43.8 cents - .2 cent KY,LA,MS,NC, SC,TN WEST AK,CA,CO,HI, 45.8 cents 45.9 cents +.1 cent ID,MT,NV,OR, UT,WA,WY SOUTHWEST AZ,NM,OK,TX 45.1 cents 45.1 cents unchanged NATIONAL AVERAGE 44.8 cents 45.1 cents +.3 cent Note: Calculations are based on 15,000 miles of driving. Note: AAA news releases can be downloaded from the following sites: AOL -- Keyword: AAA; Click on "News and Events," "News Releases;" or INTERNET -- http://www.aaa.com/news/news.html SOURCE American Automobile Association