According to AAA’s annual "Your Driving Costs" study, the yearly cost to own and operate a sedan in the U.S. has risen 3.4%, with increases in gas prices, tire and depreciation costs largely to blame. The average costs rose 1.9 cents per mile to 58.5 cents per mile, or $8,776 per year, based upon 15,000 miles of annual driving.
"Despite seeing reduced costs for maintenance and insurance this year, there is an overall increase in the costs to own and operate a vehicle in the U.S.," said John Nielsen, AAA national director of auto repair, buying and consumer programs.
Broken down by vehicle type, the overall findings of the 2011 Your Driving Costs study include (based on driving 15,000 miles annually):
Small sedan: 45.1 cents per mile, $6,758 per year
Medium sedan: 57.3 cents per mile, $8,588 per year
Large sedan: 73.2 cents per mile, $10,982 per year
Sedan average: 58.5 cents per mile, $8,776 per year
SUV: 74.9 cents per mile, $11,239 per year
4WD/minivan: 63.3 cents per mile, $9,489 per year
In-depth findings of the, including a breakdown of specific costs for each category of vehicle and costs at different annual mileages, can be downloaded by clicking here.
Tire Costs Up 15.7%
The cost of tires had the largest percentage increase, rising 15.7% to 0.96 cents per mile on average for sedan owners. The rising costs of raw materials, as well as a trend by automakers to equip their sedans with premium grade tires as original equipment, is responsible for the sharp increase.
Improved Fuel Economy vs. Gas Prices
While several vehicles included in the study had increases in fuel economy, it was not enough to offset the rise in gas prices, which caused fuel costs to increase 8.6% to 12.34 cents per mile on average for sedans.
The 2011 Your Driving Costs study began in December 2010 and calculated fuel costs when the national average price for regular unleaded gasoline was $2.88 per gallon at that time.
Depreciation Still Highest Annual Cost
Depreciation continues to be the largest cost for vehicle owners, and yet it is frequently the most overlooked by consumers determining the cost of owning and operating a vehicle, according to AAA. The 2011 study found a 4.9% increase in depreciation costs, averaging $3,728 yearly for sedans driving 15,000 miles annually.
Maintenance, Insurance Costs Fall
Both maintenance and insurance costs are lower in the 2011 study. Maintenance costs dropped 2.2% to 4.44 cents per mile on average for sedans, reflecting a trend by automakers to include some portion of scheduled maintenance in the purchase price and extending recommended maintenance intervals. All categories had lower costs for maintenance, but the minivan category had the largest drop with a 7.4% decline to 4.5 cents per mile.
Average insurance costs for sedans fell 6.1% (or $63) to $968 yearly. Insurance rates vary widely with driver, driving habits, issuing company and geographical region. AAA insurance cost estimates are based on a low-risk driver with excellent records, and for 2011, this group was rewarded with premium decreases that offset increases that took place in 2010, according to the company.
AAA has published Your Driving Costs since 1950, when driving a car 10,000 miles per year cost 9 cents per mile, and gasoline sold for 27 cents per gallon.
