Wednesday, August 17, 2011
Kia scores high in KBB rating on total ownership cost
Kelley Blue Book's kbb.com recently reported the top automotive manufacturer of non-luxury brands with the lowest average Total Cost of Ownership for the initial five-year ownership period was Kia Motors America. Kelly's rating was made after calculating depreciation, expected fuel costs, insurance, maintenance and repair costs and state fees. Kia's average tco came in below $40,000 over a five-year ownership period, besting all other non-luxury brands with a full-model lineup. "Kia Motors is committed to offering consumers a full array of high-quality cars and CUVs that provide 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," said Michael Sprague, vice president, marketing & communications, KMA.
"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." Total Cost of Ownership is developed using Kelley Blue Book Residual Values to calculate depreciation costs. According to the website, depreciation plays the largest role in the TCO, followed by the cost of fuel during the initial five-year ownership period. The company then calculates total ownership costs for new vehicles by applying a valuation methodology along with critical financial data from third-party providers.
For more information, visit Kelley Blue Book's www.kbb.com. By Joseph Szczesny