FOR IMMEDIATE RELEASE:
Vincentric Analysis Shows Additional Diesels with Ownership Cost Advantage; Fuel Savings Remain High
BINGHAM FARMS, Michigan – November 20th, 2013 – Vincentric, the automotive research firm specializing in lifecycle cost measurement, announced its 2013 Diesel Cost-of-Ownership Analysis today, with 12 of 26 diesel vehicles measured having lower total cost-of-ownership than their gasoline powered counterparts. This is an increase of four vehicles compared to 8 of 23 vehicles with a cost advantage in the 2012 study, with the percentage of financially cost-effective diesels increasing 11.4%.
The 12 diesel vehicles with lower ownership costs included all four Mercedes-Benz diesel models measured, along with the Audi A3, BMW X5, Ford F-350, GMC Sierra 3500, and four of five Volkswagen diesel models. The average price premium for a diesel was $5,392, with average fuel cost savings of $2,117. When all costs to own and operate a diesel were taken into account, the average cost-of-ownership for diesels was $1,017 more than their all-gasoline powered counterparts, up $266 from the previous year, with results assuming an annual mileage of 15,000 over five years.
“With manufacturers expanding the number of diesel vehicles in the showroom, we're seeing that the price premium buyers typically pay is often low enough to be offset by fuel savings and lower depreciation" stated David Wurster, President of Vincentric. "With almost half of the diesel vehicles we analyzed being cost-effective, it is definitely worthwhile for buyers to review ownership costs for specific models when considering a diesel purchase."
Vincentric measures eight cost elements for over 3,000 vehicle configurations per model year, including depreciation, financing, fees and taxes, fuel, insurance, maintenance, opportunity cost and repairs. Each month Vincentric re-compiles its database to take into account current vehicle prices, resale values, fuel costs, finance rates and other economic and market factors to ensure that users have access to up-to-date and accurate ownership costs.
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 such as Yahoo! Autos, AOL, Cars.com, Chevrolet, Toyota, BMW, Mercedes-Benz, Business Fleet Magazine, NADA Guides, Ford, and Fleet-Central.com as a means of providing automotive insight to their clientele. Vincentric, LLC is a privately held automotive data compilation and analysis firm headquartered in Bingham Farms, Michigan.
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For more information on the 2013 Diesel Analysis, please click here.