tco … hybrid vs comparative vehicle - ge capital … hybrid vs comparative vehicle . ... small car...
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Imagination at work.
GE Capital International – Fleet Consultancy Summer 2015
TCO … Hybrid vs Comparative Vehicle
Executive Summary
About Key Solutions: GE Capital’s Key Solutions consultancy forms an integral part of the Fleet Solutions package offered by GE Capital. For over a decade, Key Solutions experts have been at the heart of solving GE Capital customers’ biggest & toughest fleet challenges, by looking at the big picture and assessing the total cost of ownership. The following report on the cost of running hybrid vehicles covers one of many areas that are assessed by Key Solutions experts, and illustrates the depth of insight & expertise provided by the GE Capital’s Key Solutions team.
Why focus on TCO for hybrids: While there has been a lot of discussion around hybrids, many customers are still undecided whether to switch more of their fleets to hybrids as the TCO (total cost of ownership) for them vs. comparable non-hybrid vehicles has been unclear. Manufacturers’ estimates of fuel usage (which are used to demonstrate savings) may not be borne out by actual usage statistics, and the variations in tax regulations across Europe may also impact the overall economics. This report analyses various costs associated with hybrids across a range of vehicle sizes, within nine European countries and for 3-5 different vehicles per country.
Want to know more: The total cost of ownership will vary depending on your circumstances. To understand the cost of running hybrid vehicles, and the total cost of ownership for your fleet – speak to GE Capital’s Key Solutions Consultants at www.gecapital.eu/keysolutions
The information materials and opinions contained in this document are for general information purposes only, are not intended to constitute legal or other professional advice, and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances. Except as required by law, neither GE Capital EMEA Services Limited, nor its affiliated companies or businesses accept any responsibility and shall not be liable for any loss or damage whatsoever, whether in contract, tort (including negligence) or otherwise arising from reliance on the information, materials and opinions contained in this document.
In 95% of the 56 comparisons studied, average European TCO for a hybrid is currently higher
(10-15%) than a comparable non-hybrid across a range of vehicle types
About the research
What is the total cost of running a hybrid vehicle throughout Europe? ~ A GE Capital Fleet Consultancy Study
Methodology: The costs were assessed by GE Capital’s Fleet Consulting Team in April 2015, and cover a range of areas, including: • Initial Investment: Catalogue price, options, accessories, delivery / dealership costs, registration tax, additional offers; PHEVs
include a one-off cost of 2,160€ for charging station.
• Residual value
• Monthly Lease Costs: Financial rate, services (maintenance, repair, tyres, taxes)
• Fuel Costs: Contractual mileage, manufacturer average fuel consumption, local fuel prices, diesel engines, hybrid fuel
consumption. Hybrids & PHEVs include fuel costs only (not electricity)
Key results - insights
Higher TCO for hybrids driven by:
Higher investment amount
Lower residual values
Higher fuel costs
actual fuel consumption often 25% and even more over that estimated by the
manufacturer
In some countries, we see hybrids being lower on TCO for certain makes …
… primarily linked to tax benefits
In 95% of all cases traditional engines are less expensive … and hybrids are between 1% to 45% more expensive
Monthly cost of ownership of hybrid vs. non-hybrid cars. European average by car type
The average European total cost of ownership of a non-hybrid car is less than the hybrid equivalent across a range of vehicle types
Based on 48month term, and 120,000km.
*Based on standard fuel consumption for car style / size, and pricing from Belgium, France, Germany, Italy, Netherlands, Portugal, Spain, Sweden, UK
€ 640
86% 89% 95% 85%
€ 693 € 889 € 698
Key results – vehicle type
€ 582
87% 89% 95% 90%
€ 693 € 889 € 821
€ 734
82% 92%
€ 638
90%
€ 843
85% 83%
€ 862 €738
79%
€ 591
€ 750
€ 551 € 599 € 587 € 758
€ 731 € 613 € 740
Mini / City SUV
Monthly cost of ownership of hybrid vs. non-hybrid cars. European average by fuel usage
The average European cost of running a non-hybrid small car is less than the hybrid
equivalent, across a range of fuel consumptions & driving behaviours
Based on 48month term, and 120,000km. 1 Based on averages from: Belgium, France, Germany, Italy, Netherlands, Portugal, Spain, Sweden, UK. Small car defined as a hatchback style compact car, and is approximately 4,100 mm (161 in) and 4,450 mm (175 in) long 2 estimated fuel cost based on contractual mileage in combination with manufacturer average fuel consumption per 100km & local fuel prices 3 10% higher fuel consumption to represent drivers who’s fuel usage is more than the manufacturers average 4 10% increase on reg fuel to represent the higher fuel usage of diesel engines. In addition, a study used by GE Capital’s Fleet Consulting Team identifies that hybrid cars consume on average 25% more fuel than the manufacturer value, and there is an additional EUR 45 for PHEV chargers – these figure are accommodated in these additional fuel costs.
Key results - fuel
VW Golf
1.4 TSI DSG
GTE 5P
€ 645.75
VW Golf
1.6 TDI 110 BVM6 Confort
Business Bluemo 5P
€ 357.49
55%
Peugeot 508
2.0 HDI 85g ETG6
Business Pack 4P
€ 558.17
Peugeot 508
1.6 BlueHDi 120 Business
Pack 4P
€ 402.28
72%
Peugeot 3008 Peugeot 3008
2.0 HDI 163
ETG6 85G 5P 2.0 HDI 150
FAP Allure 5P
€ 589.20 € 462.37
78% 84%
Mercedes C-Class
C 300 BlueTEC Hyb. Business
BVA7 4P
€ 718.74
Mercedes C-Class
C 200 BlueTEC Business Exec
Auto 4P
€ 607.29
Lexus NX Peugeot 3008
Adv. (Range Extender)
(170pk)
1-Reeks (F20)
2.0 163PK 5D 120d
€ 729.86 € 575.42
79%
SUV Premium
87%
Volvo V60
2.4 215PK
5D D6
€ 1,001.34
Volvo V60
2.4 215PK
5D D5
€ 871.44
VW Golf
VII 1.4
150PK 5D
€ 673.51
VW Golf
VII 2.0
150PK 5D
€ 567.90
84%
Audi A3
A3 SB 1.4 150PK 5D
TFSi e-tron
€ 722.45
Audi A3
A3 SB 2.0
150PK 5D TDI
€ 561.78
78%
€ 626.91 € 481.55
77%
VW Golf VW Golf
1.4 GTE Plug-In Hybrid DSG
2.0 TDI BlueMotion DSG
Comfortline
Volvo V60
V60 2.4 215PK 5D D6 Plug-In
Hybrid
€ 904.36
Volvo V60
V60 2.4 215PK 5D D5
€ 906.90
100%
€ 645.63
Audi A3
A3 1.4 TFSI Sportback e-tron
Attraction
Audi A3
A3 2.0 TDI Sportback diesel
S-tronic Attraction
€ 507.41
79%
€ 656.99
Toyota Prius
Plug-In Hybrid Comfort
€ 605.80
Toyota Avensis
2.2 D-4D Automatik Edition
(2014)
92%
Volvo V60
2.4 215PK 5D D5
€ 871.44
87% 86%
Mercedes C-Class
C 250 BlueTEC 7G-TRONIC
€ 686.60
Mercedes C-Class
C 300 BlueTEC Hyb. 7G-TRONIC
€ 798.42
€ 820.24
BMW i3
I3 Range Extender
€ 529.11
BMW 120d
120d Aut.
65%
City / Mini
€ 809.05
Peugeot 3008
Hybrid 4.85g 2.0
HDi 5P
€ 699.22
Peugeot 3008
Allure 2.0 BlueHDi
15cv FAP 5P
86% 87%
€ 1,108.01
Mercedes C-Class
C300 BlueTEC
Hyb. Exec Auto 4P
€ 969.13
Mercedes C-Class
C250 BlueTEC
Exec Auto 4P
Volvo V60
V60 2.4 215PK 5D D6 Plug-In
Hybrid
€ 904.36
Volvo V60
V60 2.4 215PK 5D D5
€ 906.90
100%
€ 811.58
Lexus CT
CT 200h Executive 5P
Mercedes A-Class
220 CDI Automatic Executive 5P
€ 781.39
96%
€ 647.05
Toyota Auris
Auris Hybrid Lounge 5P
€ 647.11
Toyota Auris
Auris 2.0 D-4D Lounge 5P Diesel
100%
City / Mini
€ 760.68
Toyota Prius
1.8 H ECVT Active 5P
€ 604.30
Opel Astra
1.6 CDTI Cosmo 136cv E6 S/S 5P
79%
€ 577.23
VW Golf
VII 1.4 150PK 5D TSI PHEV
VW Golf
VII 2.0 150PK 5D TDI
€ 625.76
108%
Volvo V60
V60 2.4 215PK
5D D6 Plug-In Hybrid
€ 904.36
Volvo V60
V60 2.4 215PK 5D D5
€ 906.90
100%
Toyota Auris Toyota Auris
1.8HSD TS Comfort
5P 100CH
1.4 D-4D TS
Comfort 5P 90CH
€ 503.18 € 458.13
91% 94%
Mercedes E-Class Mercedes E-Class
300BlueTEC Hyb Ad
107g 4P 204CH
250BlueTEC Ad
Auto 4P 204CH
€ 750.58 € 708.81
Volvo V60
2.4 215PK 5D D5
€ 871.44
87%
€ 673.42
Audi A3
A3 Sportback 1.4 150PK 5D TFSI
Audi A3
A3 Sportback 2.0 150PK 5D TDI
€ 623.54
93%
Volvo V60
V60 2.4 215PK 5D D6 Plug-In
Hybrid
€ 904.36
Volvo V60
V60 2.4 215PK 5D D5
€ 906.90
100%
€ 667.79
Peugeot 508
2.0 Hdi Hyb.4 2-
Tronic 5P 163CH
€ 629.50
Peugeot 508
2.0 BlueHDi RXH
EAT6 5P 180CH
94%
Toyota Prius
Advance 5P
€ 601.80
VW Golf
Advance 2.0 TDI 150cv BMT 5P
€ 525.99
87%
Lexus IS
300h ECO 4P
€ 815.79
BMW 3 Series
320d 4P
€ 676.06
83%
Toyota Prius +
Eco 5P
€ 693.01
Peugeot 3008
Allure 2.0 BlueHDI 150
FAP 5P
€ 642.05
93%
SEK 6,717
VW Golf
GTE 1.4 Plug-in
Hybrid 5P
VW Golf
GTD DSG 5d 5P
SEK 5,722
85%
Volvo V60
V60 2.4 215PK 5D D6 Plug-In
Hybrid
€ 904.36
Volvo V60
V60 2.4 215PK 5D D5
€ 906.90
100%
Volvo V60
2.4 215PK 5D D5
€ 871.44
87%
SEK 6,870
Audi A3
1.4 TFSI e-tron S-tronic Sport Sportback 5P
Audi A3
2.0 TDI S-tronic Sport Styled
Sportback 5P
SEK 5,463
80%
Ford Mondeo
2.0 HY 187 Titanium HEV
CT 4P
SEK 5,872
Ford Mondeo
2.0 TDCI 180 hk
Titanium MPS 5P
SEK 5,993
102%
Volvo V60
D5 AWD Laddhybrid Momentum BE Auto 5P
SEK 7,864 SEK 5,448
69%
2.0 D4e 190
Momentum BE Auto 5P
Volvo V60 Mercedes E-Class
Mercedes E-Class
E300T BlueTec
Hybrid Fleet Edition 5P
SEK 8,062
E220 BlueTec
BE T Fleet Edition Auto5P
SEK 6,836
85%
Mitsubishi Outlander
Mitsubishi Outlander
2.0 PHEV
4WD Komfort Plus Nav 5P
2.2D 4WD
Komfort Auto 5P
SEK 7,711 SEK 6,372
83%
Lexus NX Peugeot 3008
300h Business AWD 5P
xDrive20d
Bus. Comfort Ed. AUT 5P
SEK 7,676 SEK 6,919
90%
SUV SUV Premium
98%
Mercedes C-Class Mercedes C-Class
Saloon C350e Sport 4dr Auto
Diesel Saloon C220
BlueTEC Sport 4dr Auto
£ 636.89 £ 625.97 £ 536.79
Toyota Prius
Hatchback 1.8
VVTi Plug-In 5dr CVT Auto
£ 487.97
Toyota Avensis
Diesel Saloon 2.0 D-4D Icon 4dr
91%
Volvo V60
V60 2.4 215PK 5D D6 Plug-In
Hybrid
€ 904.36
Volvo V60
V60 2.4 215PK 5D D5
€ 906.90
100%
£ 625.91
Audi A3
SPORTBACK 1.4 TFSI e-tron 5dr
S-Tronic
Audi A3
DIESEL SPORTBACK 2.0 TDI SE 5dr
£ 493.04
79%
£ 576.10
BMW i3
I3 HATCHBACK Range Extender
5dr Auto
£ 552.40
BMW 1 Series
1 SERIES DIESEL HATCHBACK 120d
Sport 5dr
96%
City / Mini
€ 760.68
Toyota Prius
1.8 H ECVT Active 5P
€ 604.30
Opel Astra
1.6 CDTI Cosmo 136cv E6 S/S 5P
79%
VW Golf VW Golf
Hatchback 1.4 TSI GTE 5dr DSG
Diesel Hatchback 2.0 Tci GTD 5dr
£ 517.56 £ 536.74
104%
Analysis undertaken by GE Capital’s Fleet Consulting Team in April 2015
Calculations based on the following variables:
Total Mileage:
• 120,000 over a 48 month term
Initial Investment:
• Catalogue price, options, accessories, delivery / dealership costs, registration tax, additional offers; PHEVs
include a one-off cost of 2,160€ for charging station.
Residual value
Monthly Lease Costs:
• Financial rate, services (maintenance, repair, tyres, taxes)
Fuel Costs:
• Contractual mileage in combination with manufacturer average fuel consumption per 100km & local fuel
prices
• 10% increase to represent the higher fuel usage of diesel engines
• A study by GE Capitals Fleet Consulting Team identifies that hybrid carts consume 25% more fuel than the
manufacturer value – this figure is incorporated into the fuel costs.
• Hybrids & PHEVs include fuel costs only (not electricity)
About the Research
Want to know more: The total cost of ownership will vary depending on your circumstances. To understand the cost of running hybrid vehicles, and the total cost of ownership for your fleet – speak to GE Capital’s Key Solutions Consultants at www.gecapital.eu/keysolutions
The information materials and opinions contained in this document are for general information purposes only, are not intended to constitute legal or other professional advice, and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances. Except as required by law, neither GE Capital EMEA Services Limited, nor its affiliated companies or businesses accept any responsibility and shall not be liable for any loss or damage whatsoever, whether in contract, tort (including negligence) or otherwise arising from reliance on the information, materials and opinions contained in this document.
© 2015 General Electric Company. All rights reserved.
Neither this publication nor any part of it may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of General Electric Company.
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