New research reveals Portugal is the fourth most expensive country for car ownership!
New research from FINN Auto has analysed countries based on the average annual income, average fuel prices, most popular car and their cost, (plus the cost as a percentage of each country’s average annual income), to reveal the most expensive countries to purchase and run a car.
The most expensive countries to buy and run a car…
Mexico is the most expensive country for car ownership, with the North American nation scoring 9.7/10! Mexico takes the top spot, thanks to its high fuel costs at €1.18 per litre. Mexico also has the third highest cost of its most popular car, with citizens needing to spend a whopping €15,057 for a Nissan Versa, which is also 95.58% of the average annual income!
Estonia is the second most expensive country for car ownership, with the baltic nation scoring 8.79/10! Estonia ranks first in the study for the highest car price in proportion to the average annual income. The country’s favourite car, the Toyota RAV4 costs €31,700, which is a whopping 99.61% of Estonia’s average annual income!
Latvia completes our top three most expensive countries for car ownership, scoring 8.64/10. The country ranks in the top three due to it’s favourite vehicle, the Toyota Corolla, costing 89.94% of the average annual income or €27,800. Latvia is also one of the most expensive countries for fuel in the study, costing citizens €1.78 per litre.
Luxembourg is the most affordable country for car ownership, thanks to its citizens only needing to spend 36.69% of their average annual income to purchase the country's favourite vehicle.
Japan is the most affordable country to buy its most popular car, with the Honda N-Box costing only 26% of the average annual income, or €10,032.