Kelley Blue Book’s KBB.com names Kia Motors America “BEST TOTAL COST OF OWNERSHIP BRAND”!
The price a consumer pays for a new car is only a small piece in the big picture when it comes to the costs involved in owning and operating a vehicle. Other factors that come into play in the overall cost are fuel prices, financing, car insurance, maintenance repairs and Kelley Blue Book -KBB residual values.
With that in mind, KBB introduced a new 5-year cost tool last July; the tool was designed to inform car buyers which brands had represented the best overall vale during the first 5 years of ownership.
When the latest results were announced on August 17th, it was great news for Kia Motors America with Kia and Hyundai placing 1st and 2nd respectively in the Total Cost Of Ownership (TCO) in the non-luxury car under $40,000 segment. The major factors which swung the results in their favor where the fuel economy, which the KMA brand has become synonymous with, and depreciation value; where the average vehicle come in at 30% of MSRP after 5 years, Kia and Hyundai are now hovering in the 45% range.
Amanda Frayer, an analyst for KBB vehicle valuations, says the increase in resale value has helped put both Kia brand and Hyundai on the radar. “Undoubtedly, the raise in residual value has helped both brand secure their leadership places in the TCO comparison,” said Amanda.
This, as well as a host of other awards and plaudits received in the past couple of months is a sure sign that Kia Motors America are now reaping the rewards of the brand re-design they have instituted, with the onus on safety, value and fuel economy.
“Kia Motors is committed to offering consumers a full array of high-quality cars and crossover vehicles that offer a combination of world-class styling, cutting-edge technology and an abundance of standard convenience and safety features, and being recognized as a cost of ownership leader by kbb.com is further proof of the brand’s compelling value equation. Consumers are looking to make smart purchases and stretch their dollars, and every Kia vehicle allows them to do just that with low starting prices and outstanding fuel economy, without sacrificing fun-to-drive performance or the modern amenities new car shoppers now expect,” said Michael Sprague, vice president, marketing & communications, KMA.
KBB has long been the place to go for car buyer’s looking for more detailed information on pricing and re-sale value, and their 5-year cost tool is a shining example of passing on information that is invaluable to a car buyer looking to make an informed decision. [Source: Kia]