It found that the expense of running a petrol-powered car increased by 6 per cent while diesel car costs rose by 5.3 per cent. The report highlighted rising fuel prices and high depreciation triggered by falling new-car prices as the main culprits behind the increases.
Bert Morris, AA trust director, said that the best way to economise on motoring was to choose a model with high mpg and low CO2 emissions
“There are, of course, many factors to consider when choosing a car but if keeping costs down is your priority, it's a no-brainer: go for a greener, more economical car,” he said.
According to Morris, by choosing the most economical vehicle in a given price range, motorists could save up to £600 a year on cars up to £10,000 and nearly £1,800 on cars between £20,000 and £30,000.
“While buying an economical car is a good first step, you will reap even greater cash benefits if you drive economically too,” he added.
The report showed that cars costing up to £10,000 saw owners forking out £1,913 per annum in standing charges while a vehicle in the £30,000 bracket incurred standing costs of £8,034.
In the same vein, a survey carried out by RAC Financial Services has found that running cost hikes have driven motorists to economise.
The survey revealed almost two-thirds of consumers intended buying a secondhand car. Just 24 per cent said they would opt for a new car and only one in four said they would pay over £10,000 for a car.
An RAC financial services spokesman said: “In real terms, cars are cheaper to buy and better equipped than ever, but daily bills are creeping up.
“The average car costs £5,300 a year to run, including £1,000 in fuel and these costs don't reduce significantly with the age of a car.”
He added that most people were also still ignoring potential savings, such as opting for smaller cars, negotiating a purchase price and getting a number of quotes for finance options and insurance.