Honda and Ford Vehicles Win "True Cost to Own" Award - Compare "Total Ownership Costs"(TOC)-Here On The Auto Channel

Total Ownership Costs (TOC)

SANTA MONICA, Calif.July 25, 2011; Honda Motor Co. won five categories in the 2011 Lowest True Cost to Own^® Awards, given by website Edmunds.com.

The awards name the 2011 model year cars and trucks in 23 categories that offer the lowest True Cost to Own^® (TCO^®), which is the projected ownership cost over a five-year period.

The 2011 Honda Accord earned victories in two categories: Coupes $25-$35K and Sedans $20K-$30K. Honda's other award winners are the Honda Civic Hybrid (Hybrids), the Honda Ridgeline (Large Light Duty Truck) and the Honda Pilot (SUV $35K-$45K).

Ford Motor Co. also had a strong showing in this year's awards, with Edmunds.com recognizing the Ford Ranger (Compact Truck), the Ford Flex (Wagon Over $35K), the Ford Fiesta (Sedan Under $20K) and the Ford Transit Connect (Van/Minivan).

The other automotive brands receiving at least two awards were Chevrolet and Cadillac.

"One of the key factors that pushed many of this year's award winners over the top was their free maintenance plans, which can save car owners hundreds or even thousands of dollars over a five-year period," said Danny Zhou, senior director of data products and operations at Edmunds.com. "The 2011 Volkswagen CC, for example, edged past its closest competitors in the Sedan $30K-$40K category in large part because it offers free maintenance for three years or 36,000 miles."

To calculate the Lowest True Cost to Own^® winners, (Compare " Total Ownership Cost" (TOC) By Vincentric.) Edmunds.com uses an algorithm that takes into account depreciation, interest on financing, taxes and fees, insurance premiums, fuel, maintenance, repairs and any federal tax credit that may be available. In order to estimate certain mileage-dependent costs, Edmunds.com assumes that vehicles will be driven 15,000 miles per year. Only vehicles launched during the period from July 29, 2010 to April 14, 2011 were considered for the 2011 awards.

To see the full list of all 23 winners this year, please visit the award page at http://www.edmunds.com/car-reviews/2011-lowest-cost-to-own.html.