As Ford Authority reported back in December, Vincentric bestowed one of its Best CPO (certified pre-owned) Value Awards on the Ford Escape PHEV, which ranked atop the EV/PHEV SUV category thanks to the fact that the plug-in hybrid offers ownership costs that are 5.9 percent below expected levels, which was good enough to outperform a total of nine of its competitors. Now, that same organization is once again heaping praise on the Ford Escape PHEV, which has also earned a 2023 Best Value in America Award as well.
The Ford Escape PHEV topped the compact SUV segment for a variety of reasons, but chiefly because it represents a tremendous value in a highly competitive and crowded space. According to Vincentric, the electrified Escape came in at 25.1 percent below its expected ownership costs and has the lowest total cost of ownership in its class, outperforming a whopping 29 competitors in the process.
To determine the winners of its Best Value in America Awards, Vincentric measures the cost of ownership for approximately 2,000 vehicle configurations by combining the costs associated with depreciation, insurance, repairs, maintenance, finance, fuel, taxes, state fees, and opportunity costs. The company then determines a vehicle’s expected cost of ownership based on a statistical model that correlates the price and cost of ownership of the vehicles within that specific segment. Finally, it calculates the difference between a vehicle’s “expected” cost of ownership and its “measured” cost of ownership. The vehicle that is the greatest percentage below the “expected” cost of ownership is determined to be the best value in its segment.
“The Vincentric Best Value in America Awards aim to help guide consumers in making informed vehicle purchase decisions,” said Vincentric President, David Wurster. “This year’s awards saw numerous electric vehicles winning in their segments, showing that EVs can still be the best value choice in spite of their frequently higher purchase price, usually due to fuel and maintenance cost savings.”