Bus

APTA: PT saves $9,515 annually

Posted on November 9, 2010

The American Public Transportation Association (APTA) released the November 2010 Transit Savings Report noting that riding public transportation on average saves individuals $9,515 annually, and up to $793 per month based on the November 8, 2010 average national gas price ($2.85  per gallon-reported by AAA) and the national unreserved monthly parking rate. This monthly savings is up 3.5 percent compared to last year. 

 

APTA releases this monthly “Transit Savings Report” to examine how an individual in a two-person household can save money by taking public transportation and living with one less car.  

 

The national average for a monthly unreserved parking space in a downtown business district is $161.56, according to the 2010 Colliers International Parking Rate Study. Over the course of a year, parking costs for a vehicle can amount to an average of $1,939.

 

APTA calculates the average cost of taking public transit by determining the average monthly transit pass of local public transit agencies across the country. This information is based on the annual APTA fare collection survey and is weighted based on ridership (unlinked passenger trips). The assumption is that a person making a switch to public transportation would likely purchase an unlimited pass on the local transit agency, typically available on a monthly basis.

 

APTA then compares the average monthly transit fare to the average cost of driving. The cost of driving is calculated using the 2010 AAA average cost of driving formula. AAA cost of driving formula is based on variable costs and fixed costs. The variable costs include the cost of gas, maintenance and tires. The fixed costs include insurance, license registration, depreciation and finance charges. The comparison also uses the average mileage of a mid-size auto at 23.4 miles per gallon and the price for self-serve regular unleaded gasoline as recorded by AAA on November 8, 2010 at $2.85 per gallon. 

 

The analysis also assumes that a person will drive an average of 15,000 miles per year.  The savings assume a person in two-person household lives with one less car.

View comments or post a comment on this story. (0 Comments)

More News

BYD zero-emission buses used to transport 2015 World Games athletes

Both the cities of Los Angeles and Long Beach have opted to purchase 100% battery-electric transit buses from BYD Motors in each of their latest procurements.

BusCon 2015 to offer perspective on the bus industry’s fastest growing customer base

This event offers one location where anyone involved with buses, including public transit and private companies, can meet to build business connections, learn from successful leaders in the field and discover new solutions to the everyday challenges they face.

CHK America completes first tier of GRTC bus stop signage improvements

Tier One modernizes 300 stops along two of GRTC’s busiest routes with each stop receiving upgrades that include new flags with clearly visible route and bus stop numbers as well as eye-level, easy-to-use printed schedule and map information.

Transit management expert to inspire at BusCon 2015 keynote address

The keynote address, “Driving Excellence” will be delivered on Tuesday, Sept. 29, at 11 a.m. by Mark Aesch, CEO of TransPro, a management consultancy that guides transit systems.

Port Authority to realign gates at NYC bus terminal

The changes are aimed at improving bus operations and reducing congestion in the terminal that can stretch back out into the inbound Lincoln Tunnel and beyond.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The resource for managers of class 1-7 truck Fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close