Honda, Ford shine in True Cost to Own awards

(July 27, 2011) SANTA MONICA, Calif. — Honda won five categories in the 2011 Lowest True Cost to Own Awards, given by 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 also had a strong showing in this year's awards, with 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).

Honda Accord tops sedan list

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 "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, 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, 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.

The winners were:
• Sedan Under $20,000: Ford Fiesta
• Sedan $20K-$30K: Honda Accord
• Sedan $30K-$40K: Volkswagen CC
• Sedan Over $40K: Cadillac CTS
• Wagon Under $25,000: Kia Rio
• Wagon $25K-$35K: Subaru Outback
• Wagon Over $35,000: Ford Flex
• Coupe Under $25,000: Toyota Yaris
• Coupe $25K-$35K: Honda Accord
• Coupe $35K-$45K: Audi A5
• Coupe Over $45,000: Cadillac CTS Coupe
• Convertible $35K-$45K: BMW 1 Series
• Convertible Over $45,000: Infiniti G Convertible
• Compact Truck: Ford Ranger
• Large Light Duty Truck: Honda Ridgeline
• Large Heavy Duty Truck: Chevrolet Silverado 2500HD
• SUV Under $25,000: Jeep Patriot
• SUV $25K-$35K: Chevrolet Equinox
• SUV $35K-$45K: Honda Pilot
• SUV Over $45,000: Acura MDX
• Minivan/Van: Ford Transit Connect
• Hybrid: Honda Civic