Cost of car ownership rising

April 30, 2012 5:12:12 AM PDT
The annual average cost of owning and operating a sedan in the U.S. is up nearly 2 percent over last year.

Factors include the cost of gasoline and tires, but AAA says cars also retained much more of their value because Americans are holding onto their vehicles longer. which increases the value of used cars.

This year sedan owners who drive an average of 5,000 miles will spend just over $9,000 to operate their cars.

SUV owners will spend about $11,000.