Ipsos TCO survey found that the costs of Mondeo in 5 years were even higher than a new car, 80,000 more than Accord.
Recently, Ipsos, the world’s leading market research company, released its TCO survey data. TCO, or total costs of ownership, refers to the total expenditure of a vehicle besides the purchase. TCO-5 is TCO in five years, including costs for maintenance, insurance, fuel, second-hand car depreciation, etc. The data shows besides new car concessions or fuel consumption, the total costs of ownership is far beyond our imagination.
Overall, despite its largest proportion in TCO, the residual value losses remained the most invisible to car owners
The survey involved the comparison of 7 Class-B models in 5 major expenditures, in which residual value losses made up about 40%, followed by fuel and then the insurance, though the insurance was subject to the actual transaction price. Maintenance came out the 4th, and the annual inspection could be ignored. The maintenance costs car owners concerned most about were way low as compared with others.
- Of all the sstudied models, Accord came at the bottom in TCO, and Mondeo, the highest
- Characteristics of American cars and Japanese cars were also reflected in TCO. As is known to all, the latter has led the world in economy, be it in terms of fuel or maintenance costs, while the former remains high in fuel consumption, an established fact despite certain improvement.
- Japanese cars have been the best-selling cars for years around the globe, which again proves the economy of a car is a top consideration for consumers.
One can see the traits of different cars in the comparison of TCO. It is known to all that Japanese cars has led the world in economy, be it in terms of fuel or maintenance costs. It is easy to buy a car, but hard to keep it, for instance, Mercedes-Benz C200 and Volkswagen Passat are similar in purchase price, but the hidden costs vary in every day followed. A fake luxury car bought at a joint venture price? You will surely be proud of your choice in the entire car cycle.
[EVENT] ESOMAR Big Data World
On November 28, join Ipsos’ Narith Panh who will be speaking at this year’s conference examining the world of big data with a multi-dimensional approach: from business to marketing strategy, from technology to innovation, from machine learning to artificial intelligence.