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.

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