Agency study: traffic crashes cost U.S. society $340 billion in 2019

WASHINGTON (Reuters) - U.S. auto safety regulators said Tuesday motor vehicle crashes cost American society $340 billion in 2019 in a comprehensive economic impact study that comes as traffic deaths have soared in recent years.

The National Highway Traffic Safety Administration (NHTSA) report examined the costs of a single year of crashes that killed an estimated 36,500 people, injured 4.5 million, and damaged 23 million vehicles. The report found traffic crashes cost taxpayers $30 billion in 2019 and when quality-of-life valuations are factored in "the total value of societal harm from motor vehicle crashes in 2019 was nearly $1.4 trillion," the agency said.

(Reporting by David Shepardson)