SANTA MONICA, Calif. — Honda Motor Co. took top honors in five categories in Edmunds.com’s 2011 Lowest True Cost to Own Awards. 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 the Coupes $25-$35K category and Sedans $20K-$30K category. The automaker’s other award winners were the Honda Civic Hybrid (Hybrids), the Honda Ridgeline (Large Light Duty Truck) and the Honda Pilot (SUV $35K-$45K).
Ford Motor Co. also took home multiple awards, with Edmunds.com 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).
Additionally, Chevrolet and Cadillac both won at least two awards each.
“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 Edmunds.com. “The 2011 Volkswagen CC, for example, edged past its closest competitors in the Sedan $30K-$40K category because it offers free maintenance for three years or 36,000 miles.”
To calculate the Lowest True Cost to Own winners, Edmunds.com reported that it uses an algorithm that takes into account depreciation, interest on financing, taxes and fees, insurance premiums, fuel, maintenance, repairs and any federal tax credit available. Only vehicles launched from July 29, 2010 to April 14, 2011 were considered for this year’s awards.
To see the full list, visit www.edmunds.com.