Fleet News

Cost of motoring increases by 19%

 

It costs on average 19% more to keep a car on the road now than this time last year.

Much of the increase in the costs is down to two factors - the 17% rise in fuel prices and a 35% rise in depreciation.

According to the RAC’s annual Cost of Motoring Index the annual running costs for an average family car have increased to £2,435 - a year-on-year increase of £277.

This equates to £47 per week, or 20.3p per mile.

The index found that the cost of depreciation, which is causing major problems for rental companies and outright owned fleets, is now on average £826 more a year.

This means depreciation is now costing fleets on average £3,183 a year for each car they are running.

The cost of motoring also looks set to rise further with volatile fuel prices and the uncertain economic climate, warned the RAC.
 

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