Vincentric Study Shows Over One Third of Diesels Provide Cost of Ownership Savings in Canada
BINGHAM FARMS, Michigan – January 26, 2017 – Vincentric LLC announced its most recent Canadian Diesel Analysis today, in which 111 of the total 280 diesel vehicles analyzed, or just over 39%, were identified as having a lower total cost-of-ownership than their closes all-gasoline powered counterparts.
The 280 available diesel vehicles were categorized into three types: Passenger Cars (4 diesels), Pickup Trucks (220 diesels), and SUVs, Crossovers & Vans (56 diesels). All four Passenger Car diesels showed lower total cost-of-ownership compared to their closest all-gasoline powered versions, while pickup truck diesels showed 1/3 of the 220 vehicles to be cost-effective. Of these 72 cost-effective pickup trucks, 52 were manufactured by Ford, and the remaining 20 by Ram. Finally, the SUVs, Crossovers & Vans category showed 35 diesels, or 62%, having lower total-cost-of-ownership than their closest all-gasoline-powered alternatives.
“Due to higher purchase prices diesel vehicles generally have more expensive cost-of-ownership compared to their all-gas versions,” said Vincentric President David Wurster. “However, with better fuel economy, nearly 40% of diesel vehicles are showing cost savings."
The analysis showed that the diesel vehicle with the highest savings was in the SUV segment where the Range Rover Diesel was forecasted to save buyers more than $22,000 over 5 years of ownership. On the other hand, buyers of the GMC Sierra 2500 SLT would be better off choosing the gasoline powered engine which would help them save over $8,000 vs. the similarly equipped diesel.
To conduct the 2016 Canadian Diesel Analysis, Vincentric measured total-cost-of-ownership of vehicles using eight different cost factors: depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost and repairs. The analysis assumed vehicle ownership for five years and 25,000 kilometers driven annually.
Vincentric, LLC is a privately held automotive data compilation and analysis firm headquartered in Bingham Farms, Michigan. Vincentric provides data, knowledge and insight to the automotive industry by identifying and applying the many aspects of automotive value. Vincentric data is used by organizations in Canada such as FCA, Ford, Mercedes-Benz and Hyundai, as well as a variety of provincial government administrations and other organizations in a variety of geographic markets to provide automotive insight to their clientele.
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For more information on the Canadian Diesel Analysis, please click here.