Press Release

The RACT has released the findings of its comprehensive annual survey of car motoring costs. It has found that the cost of owning and operating a car has stabilised in the wake of the Global Financial Crisis, and informed car buyers can still pick up a bargain.

Darren Moody, the RACT's General Manager, Roadside and Technical Services, said the 2010 Vehicle Operating Costs survey of 78 cars found that while costs of owning and operating a car have risen about 5.8% across all categories, many cars' costs are only slightly above where they were two years ago. 

The 2010 survey also found that excellent fuel economy was no guarantee of a car gaining top spot in its category.

Australia's most fuel efficient car, the Ford Fiesta Econetic, was the cheapest in the entire survey to run at 10.47 c/km but its higher purchase price made it more expensive to own (at $156.50 a week) than all other light cars surveyed.

It was, however, significantly cheaper than the Prius ($237.05 a week) and Civic Hybrid ($205.35) in the small car category.

Korean manufacturer Hyundai continues to dominate in the light vehicle category with the Getz S taking out top spot for the fourth year in a row. It was the cheapest to own and run at $121.06 a week, up from $112.31 last year.

The most expensive vehicles were the Toyota Landcruisers with the diesel wagon costing the most at $403.69 a week, or almost $21,000 per year.

Mr Moody said vehicle depreciation was the ticking time bomb with many car buyers failing to recognise it as a major vehicle cost. "End of financial year offers by some dealers provide excellent value at well below recommended retail prices. Money saved at this initial purchase point can significantly reduce the depreciation hit during the life of the car.

"In this survey, depreciation accounts for an average 38% on any given vehicle and while car buyers are not having to pay 38 cents in every dollar of their weekly car bills now, in five years time when they are looking to trade their car that's when the depreciation costs kick in significantly," Mr Moody said.

The RACT survey takes into account everything from purchase price to service costs, the cost of fuel, tyres, insurance, registration, RACT membership, interest, stamp duty, drivers' licence, and spare parts such as windscreens and batteries.

Mr Moody said maintenance costs highlighted some surprises, although the BMW's expensive servicing wasn't one at nearly $7,500 for the five year period. "What was surprising was that the Toyota's Yaris, Prado and Rav4 were all the most expensive to maintain in their categories, even with Toyota Service Advantage limiting scheduled costs," he said.

The survey found unlike LPG vehicles interstate, which were clearly in front of their petrol only siblings, Tasmanians were paying around 25% more for LPG resulting in the dual-fuel Commodore being dearer to own than the petrol only model, and a dedicated LPG Falcon just pipping the petrol only Falcon variant.

The Hybrid version of the Camry was $18 more than the petrol Altise and the Toyota Prius was the most expensive small car in the study.

RACT calculations for the Vehicle Operating Costs survey are based on a five-year ownership period and average operating for private motorists including an average driving distance of 15,000km. The data was collected in the period leading up to early May 2010.

Full results of the 2010 surveys are available for download below.

Cheapest vehicles to own and operate in 2010

For further information:
Darren Moody, GM Roadside and Technical Services 0419 893 900

ENDS  22 Jun 2010