2021 - USA - Total Cost of Vehicle Ownership

Detailed analysis of the total cost of ownership (TCO) consisting of all costs related to both purchasing and operating the vehicle. This TCO analysis builds on previous work to provide a comprehensive perspective of all relevant vehicle costs of ownership. In this report, we present what we believe to be the most comprehensive explicit financial analysis of the costs that will be incurred by a vehicle owner. This study considers vehicle cost and depreciation, financing, fuel costs, insurance costs, maintenance and repair costs, taxes and fees, and other operational costs to formulate a holistic total cost of ownership and operation of multiple different vehicles. For each of these cost parameters that together constitute a comprehensive TCO, extensive literature review and data analysis were performed to find representative values in order to build a holistic TCO for vehicles of all size classes. The light- and heavy-duty vehicles selected for analysis in this report are representative of those that are on the road today and expected to be available in the future. Table ES-1 summarizes the main parameters in this study, including the cost components which comprise TCO, the sizes and vocations of vehicles which are analyzed, the powertrains of these vehicles, and the model year for analysis of both current and future vehicles.