[Janelle Ward]

RACV’s annual Car Running Costs Survey has revealed the cheapest car to own and operate. And when it comes to transport and fuel costs, it pays to take advantage of every element of saving.

RACV has been running the survey for more than 50 years and takes an in-depth look at the newest and best-selling models via purchase price, loan repayments, insurance, fuel or electric vehicle charging costs, tyres, servicing and repairs – all averaged out over five years.

Calculations are based on private vehicle ownership and an average distance travelled of 15,000 kilometres per year.

The ‘winner’ is the MG3 Core light Hatch. It took out the top spot for a third straight year with monthly costs of $746.01.

The MG3 Core was closely followed by Kia Picanto S at $765.87 per month and Kia Rio S at $868.21.

RACV general manager-motoring products Jeff Ames said people should be pleased to know that the cost of owning and operating a car dropped across seven categories in 2023 including small and medium cars, medium and large SUVs, people-movers and light commercial vehicles.

He added: “The biggest difference is in the medium SUV car category with the Honda CRV Vi 2.0 CVT FWD Wagon taking out the top spot with an average monthly running cost of $1161.36, which is $83.72 or almost seven per cent less per month in comparison with the car that took out the top spot in the same category in 2022 which cost an average of $1245.08 per month.”

Private vehicle average running costs in Victoria for 2023

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