HYUNDAI has been named the overall brand winner in the 2016 Kelley Blue Book’s 5-Year Cost to Own Awards. According to Kelley Blue Book’s 5-Year Cost to Own data for new cars for the initial five-year ownership period, Hyundai Motor ranked number one among mainstream brands for its lowest projected ownership costs.
The report, made available to the media on Wednesday stated that, while depreciation and fuel costs may be the greatest expense incurred in owning a vehicle, there were other factors that can have a significant impact on a consumer’s budget.
It stated that considered depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees as basic parameters.
Vice President of Vehicle Valuations, Industry Solutions and International for Kelley Blue Book Dan Ingle, said: “Kelley Blue Book’s 5-Year Cost to Own information evaluates the other out-of-pocket expenses drivers will incur beyond the initial purchase price, which helps consumers choose the vehicle that best fits their needs and their long-term budget, helping save money down the road.
“In addition to a low Kelley Blue Book’s Fair Purchase Price and low fuel, maintenance and repair costs across its full model lineup, Hyundai Motor also has a mid-range depreciation and insurance cost, making it the best brand in Kelley Blue Book’s 2016 5-Year Cost to Own Awards among all automakers.”
Vice President of Corporate and Product Planning at Hyundai Motor America, Mike O’Brien said: “Being named the overall brand winner in Kelley Blue Book’s 2016 5-Year Cost to Own Awards shows our commitment to create and build better vehicles across our lineup. We believe every owner deserves peace of mind. That’s why our cars come standard with America’s Best Warranty, saving our owners money on what would have been out-of-pocket expenses.”