Comprehensive Total Cost of Ownership Quantification for Vehicles with Different Size Classes and Powertrains
4/1/2021
In order to accurately compare the costs of two vehicles, the total cost of ownership (TCO) should consist 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. 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 light- and heavy-duty vehicles. For each of the cost parameters, researchers performed extensive literature review and data analysis to find representative values to build a holistic TCO for vehicles of all size classes.
Authors: Burnham, A.; Gohlke, D.; Rush, L.; Stephens, T.; Zhou, Y.; Delucchi, M.; Birky, A.; Hunter, C.; Lin, Z.; Ou, S.; Xie, F.; Proctor, C,; Wiryadinata, S.; Liu, N.; Boloor, M.