Staying on the road costs $57.3b across
the East Coast
17 April 2012
The cost of motoring, simply keeping your car running each year, costs the 10.6 million motorists on Australia’s east coast about $57.3 billion.
These are the findings of the Bingle Car Insurance Cost of Motoring Index, launched today.
To keep track of the expenses motorists face every day on the road, Bingle’s Cost of Motoring Index examines the costs of servicing and maintenance, registration and insurance, parking, tolls, fines and petrol.
Bingle spokesperson Melanie Vine said the index had found significant differences across the states.
- Queensland was the most expensive state for motorists because of the cost of petrol, which accounts for 52 percent of the overall cost of motoring.
- Victorian’s pay twice as much in fines as NSW, and $130 million more as a state
- NSW motorists pay the highest for maintenance, insurance and registration but have the lowest overall cost of motoring.
“There is no doubt that when it comes to money, knowledge is power,” said Ms Vine.
“Understanding just what makes up the cost of motoring can help keep costs down for motorists.
“Staying on the road is a necessity for most Australian families, but the increasing cost of living is making this more difficult,” Ms Vine said.
The index found the average cost of keeping a single car on the road is $5,315 a year.
“It’s no surprise that petrol is the largest overall cost, representing 52 percent,” said Ms Vine.
Registration and insurance is the next most significant cost at 23 percent, followed by servicing and maintenance (19%), parking and tolls (3%) and fines (2%).
“By driving in a more measured way to conserve petrol, looking for better-value insurance and obeying the road rules to avoid fines, drivers can make real savings.” Melanie Vine said.
Bingles Annual Cost of Motoring Index – 2012
The index tracks the cost of motoring both as an average for individuals and at an economic level across the states.
Index development note
The Bingle Cost of Motoring Index tracks and measures the ongoing costs faced by drivers annually. It includes a survey of 1,200 owner drivers, conducted in September 2011, covering VIC, NSW and QLD. This data, along with other costs sourced from the Government, underpins this index, which was created by research agency Nature. The sub groups have been cross referenced against the latest census data for drivers with state, region, age and gender figures to represent the results at a population level.
For media enquiries or to arrange an interview please contact:
Bingle Corporate Affairs Advisor
P: 02 8121 0298
M: 0422 483 371
Bingle.com Pty Ltd (ABN 93 121 114 574, AR No. 312546) is an authorised representative of Australian Associated Motor Insurers Limited (ABN 92 004 791 744 AFSL 238173), the issuer of Bingle comprehensive car insurance.