Navy Federal's COCO Index Hits Record High as Gas Prices Surge
Event summary
- Navy Federal's Cost of Car Ownership (COCO) Index rose 4.7% in March 2026, marking a record high.
- Gasoline prices surged 21.2% month-over-month, driving the overall increase.
- COCO Index has climbed 47.6% since January 2020, outpacing wage growth of 31.5%.
- Auto repair costs also increased by 1% in March 2026.
The big picture
The record-high COCO Index underscores the financial strain on American households from transportation costs, even as other inflation pressures ease. With vehicle ownership costs rising nearly 48% since 2020—outpacing wage growth—consumers face affordability challenges that could reshape commuting and travel behaviors. Navy Federal's data highlights the broader economic impact of energy price volatility on household budgets.
What we're watching
- Geopolitical Risks
- How the war in Iran and Strait of Hormuz tensions will affect gasoline prices and COCO Index trends.
- Consumer Behavior
- Whether rising car ownership costs will shift demand toward used vehicles or alternative transportation.
- Financial Innovation
- The pace at which lenders introduce flexible solutions to help consumers manage higher vehicle ownership costs.
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