It is shown that PMVI for passenger cars adds little to the voluntary efforts of vehicle owners and is ineffective in preventing accidents, is extremely costly for any benefits derived, and is a program that can not be mandated in the name of the public interest. PMVI will prevent approximately six tenths of 1% of motor vehicle accidents. Also estimates indicate that there is approximately a nickel's worth of benefit for each dollar spent on PMVI with an accident cost of $167 per vehicle and an inspection cost of $20 per vehicle.
Abstract