The DSRC standard gives the provision to process messages in XML format instead of the default binary encoding scheme. Although, use of XML encoding provides flexibility, it also introduces bandwidth communication overhead since the message size will increase and end to end communication delay since processing time will also increase. There are many proposed XML compression algorithms to decrease message size but few have been tested for processing and communication delays for inter vehicle communication. In this paper, performance measurements for various compression algorithms on DSRC messages are presented.