CHICAGO, Feb. 12, 2016 /PRNewswire/ -- Hyundai was named the overall brand winner in the 2016 Kelley Blue Book 5-Year Cost to Own Awards. Hyundai ranked No. 1 among mainstream brands for its lowest projected ownership costs. These awards are based on Kelley Blue Book's 5-Year Cost to Own data for new cars for the initial five-year ownership period.
While depreciation (or loss of value) and fuel costs may be the greatest expense incurred in owning a vehicle, there are other factors that can have a significant impact on a consumer's budget. Kelley Blue Book 5-Year Cost to Own information takes into consideration depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees.
"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," said Dan Ingle, vice president of vehicle valuations, industry solutions and international for Kelley Blue Book. "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 all automakers."
Kelley Blue Book Fair Purchase Price is the price shoppers typically pay a dealer for a new car, based on actual new-car transactions and adjusted regularly as market conditions change. Some of the models driving Hyundai's success include the 2016 Accent, Elantra, Sonata, Tucson and Veloster.
"Hyundai's mission is to make things better," said Mike O'Brien, vice president, corporate and product planning, Hyundai Motor America. "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."
Kelley Blue Book 5-Year Cost to Own information is developed using Kelley Blue Book® Residual Values to calculate depreciation costs. Kelley Blue Book calculates total ownership costs for new vehicles by applying a sophisticated valuation methodology along with critical financial data from third-party providers.
KELLEY BLUE BOOK
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Fair Purchase Price, which reports what others are paying for new and used cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book's KBB.com ranked highest in its category for brand equity by the 2015 Harris Poll EquiTrend® study and has been named Online Auto Shopping Brand of the Year for four consecutive years. Kelley Blue Book Co., Inc. is a Cox Automotive company.
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through more than 830 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program, which includes the 5-year/60,000-mile fully transferable new vehicle limited warranty, Hyundai's 10-year/100,000-mile powertrain limited warranty and five years of complimentary Roadside Assistance. Hyundai Blue Link Connected Care provides owners of Hyundai models equipped with the Blue Link telematics system with proactive safety and car care services complimentary for one year with enrollment. These services include Automatic Collision Notification, Enhanced Roadside Assistance, Vehicle Diagnostic Alert, Monthly Vehicle Health Report and In-Vehicle Service Scheduling.
For more details on Hyundai Assurance, please visit www.HyundaiAssurance.com.
SOURCE Hyundai Motor America