Kelley Blue Book’s kbb.com recently reported the top automotive manufacturers with the lowest average Total Cost of Ownership for the initial five-year ownership period. The leading online automotive resource reports that Kia Motors America (KMA) is leading non-luxury brands.
When depreciation, anticipated fuel costs, maintenance, insurance, repair costs, state, fees, etc. were calculated the average total cost of Ownership for Kia over five years is below $40,000. This is the best result of all other non-luxury automakers with a full-model lineup.
KBB uses Kelley Blue Book Residual Values to calculate depreciation costs and attain Total Cost of Ownership. Depreciation has the biggest role in Total Cost of Ownership with fuel expense being the second most expensive during the first five years of ownership according to kbb.com. Total ownership costs are then determined by applying a valuation process with critical financial data obtained from third-party providers.
The goal in providing total cost of ownership for vehicles is to allow consumers to be able to understand the financial implications of owning a vehicle during the initial five years of ownership. Kbb.com’s easy-to-understand graphs and charts make if possible for car buyers to make informed decisions by showing them the usual ownership costs of the vehicle they are considering.
“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 “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,” Michael Sprague, vice president, marketing & communications, KMA.
For more information, visit Kelley Blue Book’s www.kbb.com
Information about Kia Motors America is available at www.kia.com