Automotive Fleet
MenuMENU
SearchSEARCH

TCO Analysis: 2019 vs. 2012 Pickups

We analyzed total cost of ownership data of Chevrolet, Ram, and Ford pickups in half-ton, three-quarter-ton, and one-ton models from 2012 and 20

Chris Brown
Chris BrownAssociate Publisher
Read Chris's Posts
August 13, 2019
TCO Analysis: 2019 vs. 2012 Pickups

Do pickups improve with each refresh and redesign? Do they gain in fuel economy, payload, and towing capacities, while their lifecycle costs improve as well? 

Photo via Depositphotos.

3 min to read


“They don’t make ‘em like they used to.” Or perhaps, “They’re making them better than ever.” 

Ad Loading...

Do pickups improve with each refresh and redesign? Do they gain in fuel economy, payload, and towing capacities, while their lifecycle costs improve as well? 

Ad Loading...

That’s a tall order. We collaborated with Vincentric, the lifecycle cost experts, to find out.  

We decided to analyze half-ton, three-quarter-ton, and one-ton pickups from the 2019 model year against those from the 2012 model year — not that long ago for many small operators who still have 2012 models in their fleets. 

We chose popular fleet trim levels and options from 2019 and tried to align them as close as possible to the 2012 model year. We chose “work truck” trims: Chevrolet Silverado W/T, Ford XL, and Ram Tradesman (ST in 2012). 

We spec’d single-rear wheel, two-wheel drive trucks and towing with a standard hitch (not gooseneck or fifth wheel). We chose two engine sizes for the half-ton models.  

For the analysis, Vincentric calculated its standard eight cost elements: depreciation, financing, fees and taxes, fuel, insurance, maintenance, opportunity cost, and repairs. This analysis covers a 36-month period and each truck averages 20,000 miles a year. 

Ad Loading...

2012 Model Year Average Estimates, 3 Years 

  • Depreciation: $13,154 

  • Repairs: $961 

  • Maintenance: $3,790 

  • Insurance: $3,835 

  • Fuel: $10,792 

  • Total Cost of Ownership: $39,919 

  • Cost Per Mile: $.67 

Finance, fees & taxes, and opportunity costs calculated but not included. 

Cost Elements 

For each model analyzed, the invoices for the 2019 model year were about $5,000 to $7,000 more than the 2012 model year. Yet out of the 12 model sets, in only two comparisons did the total cost of ownership for the 2019 model come out higher than their 2012 counterparts (one was greater by only $169). 

In aggregate, maintenance costs contributed the biggest negative impact to the 2019 TCO figures. That isn’t surprising, as newer technologies are more costly to maintain.  

However, maintenance costs have a much smaller impact than depreciation and fuel, which account for the top two costs of ownership. The newer trucks hold their values better than they did seven years ago — a testament to build quality and trucks’ greater longevity.  

For an apples-to-apples comparison, fuel was calculated with today’s prices for both model years. In this category, truck manufacturers have engineered significant improvements. This resulted in an aggregate average gain of $1,252 over the 2012 models. 

Both the repairs and insurance categories saw negligible overall increases over 2012.  

Ad Loading...

Spec Improvements 

In each model comparison, payload and towing specifications improved with the later models, making the fuel economy improvements seem even more remarkable.  

2019 Model Year Average Estimates, 3 Years 

  • Depreciation: $15,327 

  • Repairs: $968 

  • Maintenance: $4,278 

  • Insurance: $3,879 

  • Fuel: $9,540 

  • Total Cost of Ownership: $38,298 

  • Cost Per Mile: $.64 

Finance, fees & taxes, and opportunity costs calculated but not included.

In fact, looking at the three-quarter ton models in 2019 compared to the one-ton models from 2012, in each case the smaller 2019 models beat their elders in towing capabilities. This wasn’t the case in when looking at the newer half tons compared to the older three-quarter tons, primarily because we spec’d the half tons with gas engines and the three-quarter tons with diesels.  

For fleets that need to tow, there is enough of an overall improvement in the later models that it makes sense to see if their duty cycles can be met with the newer models. The savings in total cost of ownership by stepping from a one ton down to a three-quarter ton is substantial.  

Payload capacities saw more even gains in each class over the two model years.  

This analysis is frankly theoretical, as many factors change for fleets over seven years.  

Ad Loading...

Pickup truck buyers today have options that can send the capitalized cost of a pickup soaring into the $70,000 range, easily. In looking at this analysis, fleet operators with an eye to the bottom line should be happy to know that certain work truck models will provide an increasingly favorable total cost of ownership — while delivering capabilities greater than they were able to provide in the past. 

Originally posted on Work Truck Online

Subscribe to Our Newsletter

More Vehicle Research

Automotive Fleet and Work Truck graphic reading “2027 Fleet Awards,” “Your Fleet. Your Vote.” and “Three ballots. One deadline.” Categories include cars, trucks, SUVs, commercial vans, and upfit packages.
Vehicle Research•by Lauren Fletcher•November 6, 2026

Your Fleet Experience Deserves a Vote in the 2027 Fleet Awards

Cars, trucks, vans, SUVs, and upfits. Help choose the 2027 fleet award winners and unlock early-access resources for voters. Ballots close December 31.

Read More →
commercial fleet sales January thru October year over year
Vehicle Research•by Chris Brown•November 5, 2026

Commercial Fleet Sales Rebound 16.9% Through October

October's stronger results lifted commercial fleet sales growth to 6.7% through the first 10 months of 2026.

Read More →
Black-and-gold graphic reading “Vote Now” above Automotive Fleet’s 2027 Fleet Car, Truck, and SUV of the Year award logos. Voting closes December 31.
Vehicle Research•by Lauren Fletcher•November 2, 2026

Which Vehicles Earn Your Fleet’s Vote? Voting Opens for 2027 Fleet Vehicle of the Year

Which vehicles earn your fleet’s vote? Cast your ballot to unlock early access to our analysis of ownership costs across 55 vehicle nameplates.

Read More →
Ad Loading...
An AF news recap
Vehicle Research•by Faith Howell•October 30, 2026

Crash Tests, Catalytic Converter Theft & Fleet Safety | AF News Recap

A stolen catalytic converter can cost a fleet far more than the replacement part. This week, we're exploring how to reduce theft-related risk, what fleet managers learned from live IIHS crash testing, the 2027 Jeep Compass's new safety features, and why supporting original industry reporting matters.

Read More →
A red 2027 jeep compass drives on the road surrounded by foliage
Vehicle Research•by News/Media Release•October 29, 2026

2027 Jeep Compass Adds Standard Driver-Assistance Features, Starts at $31,985

The 2027 Jeep Compass adds standard adaptive cruise control across the lineup, along with additional technology and equipment options on select trims.

Read More →
A green 2027 subaru outback drives in the mountains
Vehicle Research•by News/Media Release•October 28, 2026

2027 Subaru Outback Adds Base Trim, Lowers Pricing Across Lineup

The 2027 Outback starts at $32,995, with price reductions on several trims and expanded availability of hands-free driver-assistance technology.

Read More →
Ad Loading...
A blue Toyota Camry drives on a road
Vehicle Research•by News/Media Release•October 16, 2026

2027 Toyota Camry Offers Hybrid Powertrain Across Five Grades

The 2027 Toyota Camry is a carryover with new pricing.

Read More →
new Chevy Trax and Trailblazer
Vehicle Research•by News/Media Release•October 16, 2026

Chevrolet Updates 2027 Trax and Trailblazer with More Standard Safety Features

Chevrolet is updating two of its smallest SUVs with added driver-assistance technology, redesigned interiors, and revised trim options. The changes could add more safety equipment as standard for commercial fleets, while a new Trailblazer configuration adds another all-wheel-drive option.

Read More →
Automotive Fleet Hall of Fame graphic honoring John Dmochowsky, retired senior global fleet manager for Mondelēz International.
Vehicle Research•by Faith Howell•October 2, 2026

Hall of Fame Inductee: John Dmochowsky

The longtime Mondelēz International fleet executive joins the Automotive Fleet Hall of Fame.

Read More →
Ad Loading...
Automotive Fleet Hall of Fame graphic honoring Lee Miller, retired director of fleet services for Boehringer Ingelheim.
Vehicle Research•by Faith Howell•October 2, 2026

Hall of Fame Inductee: Lee Miller

After more than four decades at Boehringer Ingelheim, Lee Miller leaves a legacy built on fleet expertise.

Read More →