KIA MOTORS AMERICA NAMED BEST TOTAL COST OF OWNERSHIP BRAND BY KELLEY BLUE BOOK’S KBB.COM
New Report from Leading Online Resource Highlights Kia in Non-Luxury Segment
IRVINE, Calif., August 17, 2011 – Leading online automotive resource 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, with Kia Motors America (KMA) landing in the top position for non-luxury brands. Calculating depreciation, expected fuel costs, insurance, maintenance and repair costs, state fees and more, Kia’s average Total Cost of Ownership 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 Total Cost of Ownership, 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.
Kelley Blue Book’s goal for providing the Total Cost of Ownership for vehicles is so consumers can better understand the overall financial implications associated with vehicle ownership through the initial five-year ownership period. Kelley Blue Book’s Total Cost of Ownership features easy-to-understand charts and graphs on kbb.com to help car shoppers make informed purchase decisions by breaking down the typical ownership costs for a particular vehicle. For more information, visit Kelley Blue Book’s www.kbb.com.
Design-Led Transformation and Product Line
Kia Motors has undergone a dramatic, design-led transformation, which has been delivering dynamically styled vehicles in several important segments at exactly the right time, contributing to the brand’s continued gains in U.S. market share. Kia is poised to continue its momentum and brand growth through design innovation, quality, value, safety features and new technology. Kia’s commitment to the U.S. market is represented by its U.S.-based manufacturing facilities in West Point, Georgia KMMG which will add the critically-acclaimed Optima midsize sedan to its production line in the near future. Kia’s model year 2012 vehicle line includes the Sorento CUV, Sportage compact CUV, Optima midsize sedan, Optima Hybrid, Soul urban passenger vehicle, Forte compact sedan, Forte 5-door compact hatchback, Forte Koup two-door coupe, all-new Rio and Rio 5-door sub-compacts and Sedona minivan
About Kia Motors America
Kia Motors America (KMA) is the marketing and distribution arm of Kia Motors Corporation based in Seoul, South Korea. KMA offers a complete line of vehicles through more than 740 dealers throughout the United States and serves as the “Official Automotive Partner of the NBA.” In 2010, KMA recorded its best-ever U.S. sales and 16th consecutive year of increased U.S. market share. Kia is poised to continue its momentum and will continue to build the brand through design innovation, quality, value, safety features and new technologies.