Young drivers’ survey finds average cost of car is now $9000 First car costs skyrocket

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Nick Dalton

YOUNG drivers are spending on average $9000 for their first car.

That’s the average price young drivers spent on their first car in 2022, according to RACQ’s annual Young Drivers Survey.

The survey quizzed motorists aged 16 - 24 and found the price tag of first cars rose significantly last year, compared to $7129 in 2021 and just over $6000 in 2018.

RACQ spokeswoman Lauren Cooney said the research also revealed, while young drivers were having to fork out more for their first car, they’re also forced to choose older models.

“In 2022, the average age of a first car was 13.7 years old, compared to 11.2 years in 2021 and 10 years old in 2020,” she said.

“With cars getting more expensive, our research also showed the number of young people buying a first car themselves went down last year, from 66 per cent in 2021 to 60 per cent in 2022. “Not only are more parents helping their kids buy a car, but they’re also lending their cars to their children for extended periods of time.

“The number of P1 and P2 drivers primarily driving their parent’s car went up last year to almost 50 per cent.

“If you are looking at purchasing your first car, make sure you do your research.

“We highly recommend only buying second-hand cars from a licensed dealer – it’s a much safer option than purchasing on the private market.”

The Young Drivers Survey also found the most popular car types for P1 and P2 drivers were small and medium cars, with Toyota, Mazda, Hyundai, Ford and Holden the most sought-after brands.

Young drivers are also becoming savvy when it comes to filling up the tank.

“Almost half of the

BMW’s electric benefits

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BMW Australia and New Zealand have added a host of benefits to the purchase of new BMW iX3 and iX xDrive40 models to elevate the ownership experience of new-generation electric vehicles.

The headline offering across both markets is the Power Pack offer, which integrates an array of features.

For Australian customers, the Power Pack – offered for the BMW iX3 and iX xDrive40 –includes a complimentary thirdgeneration BMW Wallbox, six-year complimentary BMW Service Inclusive package and $5000 trade-in bonus.

respondents told us they use a fuel comparison app before stopping at a petrol station,” Ms Cooney said.

“Last year we saw record high fuel prices right across the state so it’s great to see young drivers are shopping around, it will save them a significant amount of money in the long run.” Last year only 38 per cent of people opted for a manual car as their first ride.

The survey also found an alarming number of young drivers admitted to speeding, with more than 10 per cent saying they exceed the speed limit regularly.

These elements are in addition to those offered for all BMW fully electric vehicles on offer in Australia, including a five-year charging subscription to the country’s largest charging network, Chargefox, as well as a five-year new car warranty and three years of roadside assistance.

The initiatives come as BMW continues to grow its electrified vehicle footprint in Australia and New Zealand, both in the breadth of its line-ups and sales volume.

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