December 5, 2007
Annual ownership and operating costs for the 2008 models of Cadillac STS, Lexus LS 460, and Audi S4 Quattro are more than twice as much as the Chevrolet Cobalt LT, the Hyundai Accent GLS, and the Toyota Corolla CE, according to the latest analysis by Runzheimer International, a management consulting and vehicle costing firm. Runzheimer’s study of selected 2008 models analyzed the total annual costs of 18 cars and 12 light trucks, vans, and sport utility vehicles.
Both the Cadillac STS and the Lexus LS 460 sedans have a total annual cost of more than $19,000. Other vehicles in the analysis with annual costs exceeding $12,000 include the Ford Taurus LTD, Mercury Grand Marquis GS, and Chrysler 300 C. At the other end of the scale, cars with annual costs less than $10,500 include the Chrysler Sebring LX, Toyota Camry LE and the Ford Focus SE. Of the vehicles examined, the Toyota Corolla CE is the least expensive to operate with a total annual cost of $7,933 (see Table 1).
The Ford E350 topped the price list of specialty vehicles Runzheimer examined with $16,543 in annual costs, followed by the Chevrolet Tahoe at $15,789. Those who wish to spend less should select GMC Sierra 1500 or Ford Ranger at $11,712 and $9,929, respectively (see Table 2).
"When you examine which vehicle to buy, it’s not enough to compare only sticker prices or even best negotiated deal,” notes Lee Czarapata, Director of Client Relations, Business Vehicle Services at Runzheimer International. “To gain a better understanding of how much a vehicle will cost over its life time, all of the major expenses you incur once you drive off the lot–such as finance payments, insurance, fuel, depreciation, fees, taxes and cost of repairs and maintenance–should be part of your equation."
Table 1: PROJECTED OWNERSHIP AND OPERATING COST FOR SELECTED 2008 MODEL CARS*
MAKE & MODEL |
CYLINDER |
(LITRES) DISPLACE |
TOTAL |
Most Expensive Models |
|
|
|
Cadillac STS |
8 |
4.6 |
$19,537 |
Lexus LS 460 |
8 |
4.6 |
$19,372 |
Audi S4 Quattro |
8 |
4.2 |
$18,948 |
Least Expensive Models |
|
|
|
Chevrolet Cobalt LT |
4 |
2.2 |
$8,917 |
Hyundai Accent GLS |
4 |
1.6 |
$8,505 |
Toyota Corolla CE |
4 |
1.8 |
$7,933 |
Table 2: PROJECTED OWNERSHIP AND OPERATING COST FOR SELECTED 2008 MODEL LIGHT TRUCKS, VANS, AND SUVs*
MAKE & MODEL |
CYLINDER |
(LITRES) DISPLACE |
TOTAL |
Most Expensive Models |
|
|
|
Ford E350 XL S.D. |
8 |
5.4 |
$16,543 |
Chevrolet Tahoe LS 4x4 |
8 |
5.3 |
$15,789 |
Ford Explorer XLT 4x4 |
8 |
4.6 |
$14,485 |
Least Expensive Models |
|
|
|
Jeep Liberty Sport 4x2 |
6 |
3.7 |
$11,717 |
GMC Sierra 1500 Work 4x2 8ft |
6 |
4.3 |
$11,712 |
Ford Ranger XL 4x2 6ft |
4 |
2.3 |
$9,929 |
* All U. S. four door vehicles, trucks and sport utilities are equipped, if available, with auto transmission with overdrive, air conditioning, AM/FM radio with cassette or CD, speed control, rear window defogger, tilt steering wheel, and anti-lock brakes.
Note: Costs include operating expenses (fuel, oil, maintenance and tires) and fixed expenses (insurance, depreciation, financing, taxes and licensing) based upon a 36 month/60,000 mile retention cycle.
About Runzheimer International
Founded in 1933, Runzheimer International serves 60 percent of the Fortune 500. Recognized for providing innovative solutions relating to total employee mobility, Runzheimer is the global leader in business vehicle reimbursement programs, travel management consulting, employee relocation and compensation, virtual offices, and corporate aircraft.
* * * * *
For more information, contact Luella Dooley at Runzheimer International, Runzheimer Park, Rochester, Wisconsin 53167, (262)971-2277, ljd@runzheimer.com.
