FOR IMMEDIATE RELEASE:
Vincentric Releases US Diesel Analysis; Most Luxury Diesels Are Cost Effective
BINGHAM FARMS, Michigan – December 16th, 2014 – Vincentric, the leading compiler of cost-of-ownership data for the automotive industry, released its most recent Diesel Analysis today, in which 11 of 35 diesel vehicles measured (31%) were identified as having a lower total cost-of-ownership than their closest all-gasoline powered counterparts. This is down from the previous study performed in November, 2013 in which 46% of the diesel vehicles were cost-effective.
Of the 11 diesel vehicles with lower ownership costs than their all-gasoline counterparts, 10 were luxury models, including 4 vehicles from Mercedes-Benz and 3 vehicles each from BMW and Audi. With 12 luxury diesel vehicles included in the study, 83% were cost-effective. Chrysler’s Ram ProMaster Diesel was the only non-luxury vehicle to have lower ownership costs than its all-gas counterpart. The average price premium for a diesel vehicle was $5,390 with average diesel fuel cost savings of $855. When the costs to own and operate all 35 diesel vehicles were taken into account, the average cost-of-ownership was $2,754 more for a diesel vehicle compared to its all-gas counterpart, up $1,737 from the previous study.
“We’ve observed gasoline prices falling more rapidly than diesel prices over the past several months, reducing the fuel economy advantages inherent in many diesel vehicles,” stated Vincentric President David Wurster. “In spite of this, nearly a third of the diesels analyzed showed cost-of-ownership savings, signaling to consumers that cost savings are specific to certain models."
To conduct the Diesel Analysis, Vincentric measured total cost-of-ownership using eight different cost factors: depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. The analysis assumed vehicle ownership of five years and 15,000 annual miles of driving. Further information regarding this analysis and a chart showing results for all vehicles analyzed is available at www.vincentric.com.
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 AOL, Cars.com, Chevrolet, Toyota, BMW, Mercedes-Benz, Honda, Nissan, Business Fleet Magazine, NADA Guides, 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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CONTACT: Doug Roth
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For more information on the Diesel Analysis, please click here.