Home Economy Owning a car in 2024 costs €4,300: here’s why

Owning a car in 2024 costs €4,300: here’s why

From purchase to maintenance, car ownership costs keep rising. A study by Federcarrozzieri explains the details.

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Car maintenance costs in 2024

According to Federcarrozzieri, owning a car in Italy cost an average of €4,300 in 2024. This figure includes expenses for fuel, insurance, maintenance, and repairs. The analysis highlights a steady rise, with generalized increases across several categories.

New car purchases: rising prices

The average price of a new car rose from €28,800 in 2023 to €29,300 in 2024, marking a 1.7% increase in just one year. However, compared to 2019, the surge reaches nearly 40%, driven by stricter emissions regulations that push for more advanced, and consequently, more expensive models.

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Insurance and maintenance: a burden for drivers

Car insurance is another significant expense, averaging €415 in 2024, a 7.7% rise compared to the previous year. Similarly, maintenance and repair costs saw a 3.3% annual increase, reflecting the impact of higher material costs and increasingly complex interventions.

Future outlook

The findings from Federcarrozzieri reveal growing economic pressure on car owners, who face ever-rising costs to own and maintain their vehicles. The shift towards greener vehicles presents a necessary but financially challenging transition for many Italian families.

What’s your take on these rising costs? Share your experience using the comment form below!

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