Vincentric, a provider of vehicle cost-of-ownership data based in the U.S., has now brought its services to Canada.
The company announced that it has launched a Canadian database that will provide the country’s auto industry — including dealers and automakers — with ownership data for close to 5,000 model-year 2011 and 2012 vehicles.
“With the continued globalization of the automotive industry, we felt it was critical to expand the geographic scope of our cost-of-ownership measurements,” explained Vincentric president David Wurster.
“We are excited to be the first to introduce such a comprehensive and detailed automotive cost-of-ownership database for Canada, and look forward to helping current and future clients use this information effectively,” he added.
Total cost of ownership is determined using four different lifecycle terms and five yearly driving mileages, which range from 15,000 kilometers to 50,000 kilometers. Vincentric offers numbers for both the consumer and fleet side of the auto market.
Officials noted that there are eight cost elements measured for each vehicle. These include: depreciation, financing, fees and taxes, fuel, insurance, maintenance, opportunity cost and repairs.
Vincentric does a monthly update to account for current vehicle prices, residual values and fuel prices, as well as other economic and market conditions that could impact cost of ownership.
To license the Vincentric data, users have a few options. They can employ Vincentric’s Web Service technology, on-going monthly data deliveries, or tap into VinBase Online, Vincentric’s online cost of ownership tool for Canada.
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