From The Hindu Archives, April 12, 1926: America spends £2,900 millions yearly on motors

The American Bureau of Industrial Technology announces that America’s motoring bill exceeded £2,800,000,000 last year. Four million motor-cars are now manufactured in America yearly, a quarter of a million cars are exported and the remainder are bought by Americans at an average price, including accessories, of £200. It costs the average American £140 annually to run his car.

The following table shows America’s total motor-car expenditure in million pounds:—Cost of cars and accessories 750; depreciation 500; upkeep and repairs 400; chauffeurs’ wages 320; petrol 240; garages 180; taxes 125; tyres 123; interest on investment 100; oil 50; insurance 60. The total is 2,853 million pounds, which is twice as much as America’s annual investment in new buildings.—“The Statesman.”