Honda, Lexus, and GMC Earn Top Honors with Vincentric Best Certified Pre-Owned Value in America Awards
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BINGHAM FARMS, Michigan July 10th, 2013; The inaugural Vincentric Best CPO Value in America awards were announced earlier today, with Honda and Lexus earning awards for best value passenger car brand and luxury brand, respectively. GMC captured the best truck brand award, edging out sister brand Chevrolet. At the manufacturer level, General Motors and Toyota topped the list, with their brands earning a total of eight Vincentric CPO awards for each manufacturer.
The Vincentric Best CPO Value in America awards are vehicle specific honors that determine the best value certified pre-owned model in each segment. Using a statistical analysis, the company identified the Vincentric Best CPO Value in America winners by measuring which vehicles had lower than expected ownership costs given their market segment and price.
"The Vincentric Best CPO Value in America awards recognizes the efforts manufacturers have put into quality improvements. These improvements, supported by strong CPO warranties, provide value to buyers of certified pre-owned vehicles," stated David Wurster, President of Vincentric. "When a great vehicle is combined with a great CPO program, more and more consumers will consider a certified pre-owned vehicle. These results demonstrate that the increasing awareness and management of total cost of ownership by manufacturers is paying dividends in this expanding market," he added.
Vincentric measures cost-of-ownership using eight different cost factors: depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. Each CPO vehicle was evaluated in all 50 states plus DC assuming each has been driven 15,000 miles per year, with the expectation that they will be driven an additional 15,000 miles per year over the coming five years.
What Exactly Is A CPO?
From Wikipedia A certified pre-owned or CPO vehicle is a type of used car. Virtually always they are late-model, they differ from other used cars by having been inspected, refurbished, and certified by a manufacturer or other certifying authority.They also typically include an extended warranty, special financing, and additional benefits. Luxury marques Lexus and Mercedes-Benz were among the first to create CPO programs in the 1990s. There are variations as to what is termed certified pre-owned, so the distinctions are important. Manufacturer (or "factory") CPO vehicles are only sold at authorized dealers specializing in that particular franchise.
Factory CPO cars are generally five years old or newer and have less than 80,000 miles. They often cost more than vehicles certified by independent authorities, and are higher priced than a non-certified used vehicle. Independent programs can represent good value and an alternative to an OEM program. Independents may hold a vehicle to a higher standard than an OEM, or may be less stringent in their inspections.
Independents include brands such as the National Vehicle Certification Program (or "NVCP"), Carmark, and others. Dealer-certified programs represent a third category, as they are often promoted as Certified Pre-Owned. These vehicles generally have not been inspected by anyone outside the dealership, but do typically carry a warranty or extended service contract to provide some protection to the consumer.
With any certified pre-owned program, who does the actual inspection and reconditioning repairs may be significant. Both OEM and dealer-certified program vehicles are typically inspected by employees of the selling dealer- not by the manufacturer as may be assumed. Independents may employ a disinterested third-party inspector to ensure objectivity, or may allow the dealer to inspect their own vehicles.
Because warranties, vehicle inspection points, and other program components will vary, prospective buyers would be wise to decide what defines CPO for themselves, by comparing the programs to determine what best represents their needs and expectations.
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 such as Yahoo! Autos, AOL, Cars.com, General Motors, Toyota, Kiplinger.com, Mercedes-Benz, Business Fleet Magazine, Volvo, NADA Guides, BMW 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.
2013 VINCENTRIC BEST CPO VALUE IN AMERICA AWARDS
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2013 AWARD WINNERS | |||
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BRAND AWARDS and |
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Passenger Car Brand
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Honda |
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Luxury Brand
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Lexus |
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Truck Brand
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GMC |
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2013 AWARD WINNERS |
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Subcompact Hatchback |
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Honda Insight |
| Subcompact Sedan |  |
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Compact Coupe
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Kia Forte Koup |
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Premium Compact Coupe
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BMW 3-Series |
| Compact Hatchback |  |
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| Compact Sedan |  |
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| Premium Compact Sedan |  |
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| Mid-Size Coupe |  |
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Honda Accord |
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Premium Mid-Size Coupe
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Infiniti G37 |
| Mid-Size Sedan |  |
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Toyota Camry |
| Mid-Size Sedan, Hybrid |  |
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Licoln MKZ Hybrid |
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Premium Mid-Size Sedan
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Buick Regal
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| Large Sedan |  |
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| Premium Large Sedan |  |
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Convertible
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Premium Convertible |
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| Sport |
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Wagon
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Volkswagen Jetta |
| Premium Wagon |  |
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Volvo V50 |
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SPORT UTILITIES, CROSSOVERS and VANS |
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Compact Crossover
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Premium Compact Crossover |
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Mid-Size Crossover |
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Premium Mid Size Crossover |
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| Large Crossover |  |
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| Premium Large Crossover |  |
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| Compact SUV |  |
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| Mid-Size SUV |  |
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| Premium Mid-Size SUV |  |
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| Large SUV |  |
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| Premium Large SUV |  |
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Minivan
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Volkswagen Routan |
| Full Size Passenger Van |  |
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| PICKUP TRUCKS | |||
| Compact Pickup |  |
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Toyota Tacoma |
| Full Size 1/2 Ton Pickup |
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| Full Size 3/4 Ton Heavy Duty Pickup |  |
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Chevrolet Silverado 2500 |
| Full Size 1 Ton Heavy Duty Pickup |  |
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