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  • AAA:  The Cost Of Owning A New Vehicle In 2023

    AAA: The Cost Of Owning A New Vehicle In 2023

    Each week, our veteran radio news journalist, Laura Reynolds, brings interviews with top auto industry execs to CarPro. You can hear her latest Auto News shorts right here. In a hurry? Then you'll love these 1-2 minute interview segments.

    Segment Transcript

    Laura Reynolds: "Everything costs more and that includes cars. The price of owning a new car has gone up…a lot. AAA's Your Driving Costs calculator helps you determine how much it’ll cost for you to own and operate a new vehicle. The average cost of owning a new car has risen to $12,182 a year and that’s almost $1500 bucks more than a year ago in 2022. AAA's Greg Brannon told me that manufacturers are still trying to catch up from the global supply chain issues and tightened new car inventory that happened in 2022.  Greg says the conditions are improving but new car prices remain high to counter what happened in 2022.  Not only is the cost of a new vehicle higher the finances are a whopping 4.7% higher than 2022. Even EV owners are paying more per kilowatt to charge their car. Do your homework by using AAA's Your Driving Costs calculator. With today’s Auto News, I’m Laura Reynolds."

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    Photo Credit: Ford.