AAA analysts say bigger price tags and higher interest rates have conspired to raise American new-car buyers’ average annual total cost of ownership to $9,282, an all-time high and a 24% year-over-year increase.
IHS Markit analysts say electric vehicles will account for 7.6% of all new vehicles sold in the United States in 2026, predicting ‘explosive’ growth in a segment driven by rapidly proliferating makes and models.
Despite a proliferation of new models, a survey of U.S. consumers finds only 40% believe most vehicles will be electric 10 years from now, a result AAA analysts say reveals a ‘lack of knowledge’ in how EVs perform in day-to-day driving conditions.
The organization's newest survey backs the need for F&I protections, finding that 64 million U.S. drivers can't afford an unexpected vehicle repair. AAA also found that one-third of drivers skip or delay recommended services or repairs.
The methods used to de-ice roadways cost 22 million American vehicle owners an estimated $15.4 billion in rust repairs over the last five years, according to a new AAA survey. The average cost to repair rust-related issues is $500.
Spurred by a nearly 25% drop in fuel price, the annual cost to own and operate a vehicle in the United States has fallen to a six-year low of $8,558, according to AAA’s 2016 Your Driving Costs study. The drop more than offset the increase in every other cost associated with vehicle ownership.
Decreases in gas prices and finance charges related to auto loans fueled the decline, but rises in maintenance and tire replacement costs make F&I protections an important consideration for vehicle owners.
The editor delves into two studies that paint a bleak future for dealership service departments and a third that says vehicle owners are there for the taking.
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