Hyundai Ranks Number One
Hyundai gets high honors: wins best brand in Kelley Blue Book 2016 for lowest ownership costs
Anyone who drives a Rosen Hyundai vehicle can attest to three things: their car’s versatility, its style and its long-lasting quality. That’s why we weren’t surprised at all to hear that Hyundai was named the overall brand winner in the 2016 Kelley Blue Book 5-Year Cost to Own Awards. Hyundai ranked number 1 among mainstream brands for its lowest projected ownership costs.
The prestigious awards are based on Kelley Blue Book’s 5-Year Cost to own data for new cars for the initial five-year ownership period. To come up with their results, Kelley Blue Book takes into consideration depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees. Depreciation (or loss of value) and fuel costs are the two most significant expenses incurred by vehicle owners.
Kelley Blue Book takes all of this information and calculates total ownership costs by applying a sophisticated valuation methodology along with critical financial data from third-party providers.
“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,” Dan Ingle, Vice President of Vehicle Valuations, Industry Solutions and International for Kelley Blue Book, explained.
“In addition to a low Kelley Blue Book Fair Purchase Price and low fuel, maintenance and repair costs across its full model lineup, Hyundai also has a mid-range depreciation and insurance cost, making it the 2016 5-Year Cost to Own Best Brand among automakers,” Ingle continued.
Kelley Blue Book’s Fair Purchase Price is better known as the price shoppers typically pay a dealer for a new car. The number is based on actual new-car transactions and is adjusted regularly as market conditions change.
“Hyundai’s mission is to make things better,” said Mike O’Brien, Vice President of Corporate and Product Planning for Hyundai Motor America, in a press release earlier this year.
“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. It’s why our cars come standard with America’s Best Warranty, saving our owners money on what would have been out-of-pocket expenses.”
Rosen Hyundai currently has several models which drove Hyundai’s success in this category, including the 2016 Accent, Elantra, Sonata, Tucson and Veloster. Not sure which is the right fit for you? One of our knowledgeable sales associates is on hand to help you find the perfect Hyundai today. Rest assured that no matter your choice, you’re guaranteed the most cost-effective, financially responsible vehicle on the market at Rosen Hyundai.
