The average American household spent $9,826 on transportation in 2020, which accounted for 16% of all annual household expenditures. Transportation expenditures include vehicle purchases, gasoline and motor oil, other vehicle expenses (maintenance, insurance, etc.), and public transportation costs. For households with incomes between $50,000 and $59,999, transportation accounted for 18% of total expenditures — the highest share of any income group. While those in the highest income group spent more on transportation overall, it made up only 13.3% of their household expenditures, the lowest share of any income group.
Featured graph source: U.S. Department of Labor, Bureau of Labor Statistics, Consumer Expenditure Survey Tables, Table 1203 Income Before Taxes. Fact #1248 Dataset
Return to 2022 Fact of the Week
Related stories on lower total cost of ownership of electric cars:
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
This post has been syndicated from a third-party source. View the original article here.