Vincentric is a data collection and analysis company launched in 2004 and headquartered in Michigan. The company uses a cost-of-ownership database to measure and analyze the cost of holding and maintaining vehicles after purchase. FinCentric then uses the information to determine how those costs of ownership affect the vehicles’ value to buyers. This helps provide insight into the automotive industry for players such as the Cars website, Toyota, General Motors, Mercedes-Benz USA, etc.
It’s worth noting that data and insights from Vincentric can also prove valuable to car buyers, which is where the annual Best Value Awards come in.
What are the Vincentric Best Value Awards?
Each year, Vincentric issues Best Value Awards, a list of vehicles that the company believes will provide the best value for market segments and categories. As mentioned earlier, Vincentric collects and analyzes data, even considering multiple aspects of vehicle ownership before releasing the listing.
It should also be noted that Vincentric provides listings for both Canada and the United States, focusing on fleet models, certified used vehicles, and consumer market vehicles. The Best Value Awards for the Consumer Market were introduced in the USA in 2005 and later presented to Canada.
How the Company Selects Vehicles for America’s Best Value Awards
To understand how the company selects vehicle options for Best Value Awards, you first need to understand how Vincentric defines value in terms of vehicle ownership. Simply put, Fincentric states that a car with lower costs of ownership despite the similar price to its peers offers better value.
However, since car prices vary even in the same market segment, the company has to find another way to measure the value. It does this by combining cost factors such as depreciation, financing, maintenance, insurance, opportunity cost, repairs, fuel, and finally duties and taxes for approximately 2,000 vehicles.
Then, the vehicles are allocated to different segments, for example, small compact cars, compact cars, mid-size cars, sports cars, compact SUVs, etc. Fincentric then relates the price and costs of ownership for the different vehicles in each segment using a statistical model. Once this information is presented on the graph, the average value of the cars and trucks in each segment can be linearly determined.
Thus, vehicles whose costs of ownership are lower than the minimum are considered to be of better value. Vincentric can then use these data points to calculate the difference between projected and actual costs of ownership. Only vehicles with the most significant relative difference between expected and actual costs of ownership under the line are included in the Best Value Awards.
America’s Best Value 2022 Vincentric Awards Winners
With the winners of the 2022 Vincentric America’s Best Value Awards announced, there are notable blemishes in some of the most iconic car categories. For example, the Toyota Camry was chosen as the best value option in the midsize passenger car segment. According to Vincentric, the Camry’s costs of ownership are lower than expected by 4.4%.
Jeep Wrangler in the compact SUV segment achieved one of the largest profit margins at 12.1% lower than expected. This is the seventh time Wrangler has won the award in nearly two decades.
Next up is the Tesla Model 3 in the Luxury EV segment. This car combines the lowest depreciation, insurance, repair, operation and maintenance costs to help snatch the title for the 2022 model year. However, the margin is lower than expected at 2.4%.
Other notable examples include the Chevrolet Corvette, Lincoln Navigator, and Ford F-250 in luxury sports cars, large luxury SUVs, and full-size pickup trucks. Similar to the Jeep Wrangler, the Corvette’s percentage difference is just over 12%, and having the lowest insurance costs in its class definitely helped it win the prize.
As for the Lincoln Navigator and Ford F-250, margins were 3.9% and 2.6%, respectively.
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