Thursday, April 4, 2013

Cost of Driving

http://www.economist.com/blogs/graphicdetail/2013/04/daily-chart-2

I shared this article because i feel it is interesting. This article talks about the cost of purchasing cars compared to cost of running them in major cities around the world like Delhi, Shanghai, Sao Paulo, London, Paris, New York, etc and talks about cost of cars as a measure of real prices across the world. Certain surprising facts pointed out are that the cost of driving is way less in New York and London compared to cities like Delhi, Shanghai, Rome, etc.

2 comments:

  1. Gas prices are just going to continue to increase. The question is at what point will we decide that it has become too expensive to operate these cars on only gasoline, and switch to completely to hybrids?

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  2. The graph in this article is interesting. I feel that Singapore should be included as it is much more expensive than Shanghai in terms of cost for buying and running a car. Also, another factor to consider are parking prices, which are much lower than they are in the West. Singapore is known to have one of the highest tax levels for cars in the world.
    Other than that, PPP is calculated using a wide basket of goods, but if we're just looking at cars it isn't justified because that is only one good. Perhaps using the exchange rate would be more accurate comparison of taxes and fees associated with cars.

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