Navy Federal’s Cost of Car Ownership (COCO) Index Shows Spike in Vehicle Ownership Costs Driven by Gasoline Prices - The Morning Sun

Navy Federal’s Cost of Car Ownership (COCO) Index Shows Spike in Vehicle Ownership Costs Driven by Gasoline Prices - The Morning Sun

Open the article to view the coverage from Morning Sun

Navy Federal Cost of Car Ownership Index Hits Record High as Gasoline Prices Surge

Navy Federal Credit Union said April 13 that its Cost of Car Ownership Index rose 4.7% in March to a record high, driven almost entirely by a 21.2% month-over-month jump in gasoline prices tied to conflict in the Middle East. The index, which tracks 11 major vehicle ownership expenses using Bureau of Labor Statistics data, …

Navy Federal’s Cost of Car Ownership (COCO) Index shows spike in vehicle ownership costs driven by gasoline prices

VIENNA, Va.–(BUSINESS WIRE)–Navy Federal Credit Union today released the latest iteration of its Cost of Car Ownership (COCO) Index, revealing a record-high in the cost of owning a vehicle. The COCO Index rose 4.7% in March, 5.5% in the past year, and 47.6% since January 2020. The latest increase is driven almost exclusively by a sharp increase in gasoline prices. Gasoline prices climbed 21.2% month over month, adding a significant cost to house…