The True Cost of Urban Mobility Using a Gas-Powered Car
This article provides a detailed breakdown of the true cost of using a gas-powered car for urban mobility.
The True Cost of Urban Mobility Using a Gas-Powered Car
The car is deeply ingrained in American daily life as a symbol of freedom. Due to insufficient public transformation, a car is indispensable to most, especially in urban mobility.
However, the dominance of the conventional automobile in American culture might be coming to an end. The advent of electric vehicles (EVs) sparked a paradigm shift in commuting.
Alongside EVs also came electric micromobility and shared mobility, spearheaded by electric scooters. But today, we will focus on why so many commuters want to move away from the classic car.
It requires a significant initial investment to own a car. As of December 2023, the average price of a new four-seater car was $48,247. Meanwhile, used cars had an average price tag of $26,213.
In addition, the annual cost of car ownership was estimated at $10,728 in 2022, 10.99% higher than $9,666 in 2021.
Here is a breakdown of the average cost of owning a standard passenger car in the US:
- Gas Prices — American consumers paid an average of $3.52 per gallon for regular-grade gasoline in 2023. Hence, consuming a 12-gallon tank of gas once a week will cost you $181.03 per month and $2,172.36 per year.
- Auto Insurance — full coverage in the US costs an average of $2,150 annually. However, the price may vary significantly from state to state, factoring in several factors such as age, driving record, and vehicle type.
- Maintenance — car maintenance costs, including oil changes, tire rotations, and inspections, average $66 per month or $792 per year. Factoring repairs, the amount grows to $1,474.50 per year.
- Depreciation — the standard passenger car sheds 20% of its value in the first year and 15% in the second to the fifth year. This translates to $9,649.40 in the first year, $5,789.64 in the second year, $4,921.19 in the third year, and so on.
- Fees and Taxes — on average, a new car owner pays a 6% sales tax or roughly $2,894.82. Moreover, annual licensing, registration, and taxes can add up to $762.
- Financing — financing costs on a new care average $729 per month or $8,748 per year.
A commuter can avoid most of the hefty costs above by opting for an electric scooter. The Flash Motors Infinity X premium hyperscooter is the world’s most advanced e-scooter, with a top speed of 75 mph and a max range of 70 miles.
