The Canadian Automobile Association has released its annual Driving Costs statistics.
The costs are so high, newspaper columnist Richard Starnes said: “It’s almost enough to throw out the car in favour of a bike.”
But he opines that’ll never happen:
“For most of us, it’s the price we are willing to pay for our lifestyles.
“We may opt for a smaller car in future — and the latest sales news suggests that’s what is beginning to happen across North America. We may also become more careful with how far we drive and we may try to carpool more.
“But none of us, I wager, is ready to give up our beloved car.”
CAA president Tim Shearman said:
“We hope that these tools will help Canadians develop safer, more environmentally friendly and potentially less expensive driving habits that will help them to reduce their cost of ownership.”
The Ottawa Citizen delves into the stats:
The vehicle is driven less than 16 kilometres a day to work…For any kilometres over 18,000 per year add $26 per 1,000 km for the Cobalt and $33 for the Grand Caravan.
Gas costs are based on 110.1 cents per litre.
The annual variable operational costs for each kilometre we travel based on 18,000 km a year [are]
If you owned the Cobalt, it would cost you 9.95 cents in fuel, 2.36 cents in maintenance and 1.49 cents in tires for a total of 13.8 cents per kilometre.
If you owned the Caravan the figures would be 12.97 cents, 2.82 cents and 1.91 cents for a total of 17.70 cents.
Now we need to add annual fixed ownership costs…
For Cobalt owners (or the equivalent) the costs are: insurance $1,741, licence and registration $118, depreciation $3,661 and financing $942. That translates into $17.70 a day and $6,462 a year.
For Caravan owners the costs are: insurance $1,644, licence and registration $120, depreciation $5,504 and financing $1331. That translates into $23.56 a day and $8,599 a year.
You can buy a very nice bike for $8,599…and you’d lose the spare tyre in the process.