April 2, 2002
Canadian motorists paid less to drive in 2001 – CAA
Ottawa, Ontario – Canadian consumers paid less to drive their vehicles in 2001 than they did the year before, according to the CAA’s Driving Costs study released on Friday. The average Canadian motorist paid $8,468.40, or 47 cents per kilometre to own and operate a vehicle. This amount is down from 2000 by $435.67 or approximately 4.1%, largely due to lower loan financing costs.
The following are some of the highlights from CAA’s 2002 Driving Costs study:
- The average annual ownership costs including “fixed costs” such as insurance, licence and registration fees, taxes, finance costs, and depreciation totalled $6,262.43. This cost reduction is primarily due to the 1% decrease in finance rates experienced in 2001. Ownership costs may differ from vehicle to vehicle and place to place, but change very little with the amount and type of driving.
- Operating costs, including “variable costs” such as fuel and oil, maintenance and tires, totalled $2,205.00, down slightly by $54 from 2000. Operating costs are variable and may fluctuate depending on where you live, what type of vehicle you drive, your driving habits and what you spend on services and repairs.
- Fuel and oil represent the largest component affecting operating costs at 7.75 cents per kilometre out of the total 12.25 cents. This works out to approximately 63% of the total average cost per kilometre.
The figures provided in CAA’s Driving Costs represent national averages based on figures available s of January 2002. The national estimate is based on travelling a distance of 18,000 kilometres per year and was calculated by using a 2002 Chevrolet Cavalier LS four-door sedan.
For more information on CAA’s 2002 Driving Costs study, visit www.caa.ca.