MATTHEW GUY
Vincentric, a data and insight company focused on the auto industry, has named what it thinks are the vehicles that for 2020 provide the best CPO values in Canada.
Ford stands atop the podium with six awards, mostly in the truck category, while several other German and Japanese brands also took home multiple trophies.
CPO, in case you’ve forgotten, stands for certified pre-owned, and is a program facilitated by many manufacturers that applies stringent inspection and refurbishment standards to used vehicles before permitting them to pop up on the lots of a franchised dealer. If your neighbour is bragging about the low-mile two-year-old A4 he picked up at the Audi store, chances are pretty good the car is a CPO unit.
“Certified pre-owned vehicles are a great option for consumers who are looking for quality vehicles at a reduced cost,” said David Wurster, Vincentric president. “In these uncertain economic times, it’s more important than ever for shoppers to get the most value out of their vehicle purchases.”
In broad terms, Mitsubishi won the passenger-car category while Audi took the W in luxury. Crossovers and SUVs are ranked separately, with Mazda and Acura winning for their performance in the standard and luxury categories, respectively. Ford walked all over everyone in terms of trucks.
These categories were then further broken down into smaller segments for each vehicle type, with the mentioned brands obviously winning several segments or else they wouldn’t have won the overall category.
How were the winners chosen? Vincentric performed a cost-of-ownership analysis across roughly 13,000 vehicle configurations using eight different factors including depreciation, financing, fuel, and repairs. A statistical model identifies winners by measuring which vehicles had lower than expected ownership costs given their market segment and price.
Each rig was evaluated in all ten provinces plus the Northwest Territories using a range of insurance profiles and an annual driving distance of 20,000 kilometers. For the purposes of their awards, the vehicle’s expected cost of ownership is based on projections that correlate the price of a car with cost of its ownership within each of those eight segments.
– Copyright Postmedia Network Inc., 2020
