Toyota, Lexus and Ram took home the top awards for value Thursday in a competition that measures total cost-of-ownership in Canada.
The fourth annual Vincentric Best Value in Canada awards identified not only the best brands, but also the best models when considering cost-of-ownership in Canada using eight different cost factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs.
Using a statistical model, the company identified the winners by measuring which vehicles had lower than expected ownership costs given their market segment and price. Each vehicle was evaluated in all 10 provinces plus the Northwest Territories using a range of annual kilometer intervals and insurance profiles.
Vehicles were selected across all categories, identifying winning models from the passenger car options, crossovers SUVs and CUVs as well as trucks. Toyota took home the most awards, but Volkswagen earned seven awards. Fiat Chrysler Automobiles, Honda, Ford, Kia and Mazda also earned multiple awards.
“Manufacturers are increasingly monitoring and managing total cost of ownership to better compete with their rivals while offering significant choices and value for consumers,” said David Wurster, president of Vincentric.
For the full list of winners, visit Vincentric.com
