This past February, Kelley Blue Book
’s kbb.com released its list of the top automotive manufacturers with the lowest average total cost of ownership for the first five years after purchase. In first place is Kia Motors America; the automaker earned the 2012 “Total Cost of Ownership” award in the non-luxury brand category, and the 2012 Soul urban passenger car came in at number one in the non-luxury compact car category.
To determine which vehicles had the lowest total cost of ownership, kbb.com calculated depreciation, expected fuel costs, insurance, maintenance and repair costs, state fees and more. Kia's average total cost of ownership over the initial five-year ownership period was less than $40,000, and the 2012 Soul was less than $32,000.
Kelley Blue Book uses depreciation as the largest factor in Total Cost of Ownership, followed by fuel cost during the initial five-year ownership period. Their team of automotive experts also calculates total ownership costs for new vehicles by utilizing a valuation methodology along with critical financial data from third-party providers.
"As the non-luxury brand winner, Kia tops all manufacturers for low average total ownership costs," said Juan Flores, director of vehicle valuation for Kelley Blue Book. "With a number of successful redesigns, greatly improved quality, superior fuel economy and competitively priced models, Kia sets itself apart. Some of the key models contributing to Kia's success are the Soul, Optima and Sportage."
Kelley Blue Book releases Total Cost of Ownership rankings so consumers can better understand the overall financial commitments associated with vehicle ownership – especially in the first five years after vehicle purchase. Total Cost of Ownership research includes easy-to-understand charts and graphs on kbb.com.
"Kia has evolved dramatically as a company in the past three years and developed one of the youngest and most acclaimed vehicle lineups in the industry, offering unmatched levels of style, performance and technology,” said Michael Sprague, vice president of marketing and communications for Kia Motors America. “The award from Kelley Blue Book is further validation of the maturation of the Kia brand and our unique ability to exceed consumer expectations while maintaining our reputation for tremendous value."
Value is an important factor on the minds of car shoppers today, and thanks to Kia’s strong lineup of fuel-efficient and skillfully engineered vehicles, there are plenty of low-risk, high-reward options on the road.