Vincentric Announces 2018 U.S. Diesel Analysis: Diesel Vans are Cost Effective; Trucks are Not
BINGHAM FARMS, Mich. (PRWEB) August 08, 2018 -- Vincentric, LLC announced its 2018 U.S. Diesel Analysis results today with 77 of the 419 (18%) diesels evaluated having a lower total cost of ownership compared to their closest all-gasoline powered counterpart.
The 419 available diesel vehicles were categorized into four types: Passenger Cars (23 diesels), SUV/Crossovers (22 diesels), Trucks (324 diesels), and Vans (50 diesels). The results showed that buyers of diesel vans, which are primarily commercial vehicles, have a strong case for buying a diesel as 49 of the 50 (98%) vans analyzed showed the diesel as being cost-effective. In contrast, none of the 324 diesel trucks analyzed had lower cost of ownership than their gasoline powered counterpart.
Much of this difference can be attributed to the fact that the average diesel van has only a $3,700 price premium vs. a similar gasoline powered van, while the price of a diesel truck averages $8,300 more than its gasoline powered counterpart. Another factor that is making diesel trucks not cost effective is the maintenance of diesel trucks is on average $1,700 more than the gasoline counterparts while the average van maintenance is only about $540 more than the similar gas powered van.
The results for passenger cars and SUVS/Crossovers were more balanced, although most diesel passenger cars were cost-effective with 19 of 23 (83%) diesel passenger cars having lower cost of ownership than their gasoline counterparts. Diesel SUV/Crossovers did not have as strong of a case with only 9 of 22 (41%) showing cost-effective results.
“Vehicle pricing, fuel economy, and maintenance costs are just a few ways in which ownership costs of diesels differ from gasoline powered vehicles,” said Vincentric President David Wurster. “However, understanding all eight cost factors that comprise Total Cost of Ownership is key to determining whether or not a particular diesel vehicle is cost effective.”
In preparing the 2018 U.S. Diesel Analysis, Vincentric conducted a statistical analysis of diesel vehicles to provide buyers and the automotive industry with insightful information on the cost of owning and operating a diesel vehicle. Fuel prices used in the analysis were based on a weighted average over the previous five months. The report also assumes the vehicle is owned for five years and driven 15,000 miles annually. Vincentric measured total cost of ownership using eight different cost factors: depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs.
Further information regarding the 2018 Vincentric U.S. Diesel Analysis results for all vehicles analyzed can be requested from marketing(at)vincentric.com or visit the Vincentric.com Diesel Analysis Page to view the top 3 cost effective vehicles in each category.
ABOUT VINCENTRIC
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 including Cars.com, Mercedes-Benz, Toyota, NADA Guides, Business Fleet Magazine, Nissan, and many others 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.
Kortney Saxena, Vincentric, LLC, http://www.vincentric.com, +1 (248) 430-4121 Ext: 114, [email protected]
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