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KBB.com Announces 2014 5-Year Cost to Own Award Winners

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SOURCE Kelley Blue Book

Mazda, Lexus Earn Second Consecutive Brand and Luxury Brand Wins for Lowest Projected 5-Year Ownership Costs

IRVINE, Calif., Feb. 5, 2014 /PRNewswire/ -- The 2014 model-year vehicles and brands (in both non-luxury and luxury categories) with the lowest projected ownership costs were announced today by Kelley Blue Book www.kbb.com, the leading provider of new and used car information. 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. 

To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/65344-kelley-blue-book-kbb-announces-2014-5-cost-to-own-award-winners

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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 pocketbook. Available on Kelley Blue Book's KBB.com, 5-Year Cost to Own information takes into consideration depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees for new models.  

Kelley Blue Book's 5-Year Cost to Own Awards, like all new- and used-car information provided by KBB.com, exist to help shoppers make more informed new-car buying decisions by breaking down typical ownership cost details and naming the brands and models with the lowest projected five-year total. 


2014 5-YEAR COST TO OWN AWARDS: BY VEHICLE CATEGORY


SUBCOMPACT CAR: Chevrolet Spark

COMPACT SUV/CROSSOVER: Jeep Patriot

COMPACT CAR: Toyota Corolla

MID-SIZE SUV/CROSSOVER: Mitsubishi Outlander

SPORTY COMPACT CAR: Hyundai Veloster Turbo

FULL-SIZE SUV/CROSSOVER: Ford Explorer

MID-SIZE CAR: Honda Accord

LUXURY COMPACT SUV/CROSSOVER: Buick Encore

FULL-SIZE CAR: Chevrolet Impala

LUXURY MID-SIZE SUV/CROSSOVER: Lincoln MKX

ENTRY-LEVEL LUXURY CAR: Buick Verano

LUXURY FULL-SIZE SUV/CROSSOVER: Buick Enclave

LUXURY CAR: Audi A5

MID-SIZE PICKUP TRUCK: Toyota Tacoma Regular Cab

HIGH-END LUXURY CAR: Lexus LS

FULL-SIZE PICKUP TRUCK: GMC Sierra 1500 Regular Cab

SPORTS CAR: Ford Mustang

MINIVAN/VAN: Dodge Grand Caravan Passenger

HIGH-PERFORMANCE CAR: Chevrolet Camaro SS/ZL1

HYBRID SUV/CROSSOVER: Lexus RX

HYBRID/ALTERNATIVE ENERGY CAR: Toyota Prius c


PLUG-IN VEHICLE: Chevrolet Spark EV




 (2014 model-year vehicle's projected ownership costs are based on the average Kelley Blue Book 5-Year Cost to Own data for the initial five-year ownership period).

"­­New-car shoppers naturally want to know how much a car will cost upfront; however, sometimes an even more expensive car can actually save you money during the first five years of ownership," said Dan Ingle, vice president of vehicle valuations for Kelley Blue Book.  "Kelley Blue Book's 5-Year Cost to Own information evaluates the other out-of-pocket expenses drivers will incur, which helps consumers choose the vehicle that fits them and their wallets best, helping save money down the road."

Based on analysis of Kelley Blue Book's 5-Year Cost to Own information for 2014 model-year new vehicles, Mazda and Lexus are the prestigious brand winners for the second consecutive year. In addition to a low average Fair Purchase Price and strong residual values across its full model lineup, Mazda is ranked among the lowest in fuel and insurance costs, making it the 2014 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 Mazda's success include the MAZDA3, MAZDA6 and CX-5. Despite an average Fair Purchase Price higher than several of its competitors, Lexus offers the lowest depreciation cost of any eligible luxury brand, thanks to strong residual values across its full model lineup. Lexus also ranks lowest in repairs and is among the lowest in fuel and insurance costs.  Some of the key models contributing to Lexus' stand-out performance include the ES, IS and RX models. 

Another notable 5-Year Cost to Own Award win includes the 2014 Buick Encore, which is this year's 5-Year Cost to Own: Luxury Compact SUV/Crossover category winner. The Encore beat out the Acura RDX and BMW X3 in all categories except maintenance and repairs. Encore offers depreciation costs 35.7 percent lower than RDX and an impressive 63.7 percent lower than X3. In addition, this year's 5-Year Cost to Own: Plug-In Vehicle category winner, the 2014 Chevrolet Spark EV, bests the Chevrolet Volt and Honda Accord Plug-In Hybrid in nearly all ownership factors. Spark EV not only offers the lowest state fees, but also the lowest insurance, outperforming Volt by 50.5 percent and is 22.6 percent lower than Accord Plug-In Hybrid. 

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. 

For more information about the 2014 5-Year Cost to Own Award winners, please visit http://www.kbb.com/new-cars/5-year-cost-to-own-awards/.

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb, and get updates on Google+ at https://plus.google.com/+kbb/.

About Kelley Blue Book (www.kbb.com)
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 and Suggested Retail Values, and Fair Purchase Price, which reports what others are paying for new 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 Co., Inc. is a subsidiary of AutoTrader Group, which includes AutoTrader.com, vAuto, VinSolutions and HomeNet Automotive.  AutoTrader Group is a majority-owned subsidiary of Cox Enterprises.

 

Visit KBB.com for the new cars that cost you less during the first five years.

 

The 2014 Audi A5 touts lower depreciation, fuel costs and a low Kelley Blue Book® Fair Purchase Price among its competition, making it this year’s 5-Year Cost to Own winner among all luxury cars.

 

In addition to its recent 2014 Best Resale Value Award win, the 2014 Honda Accord earns the No. 1 spot among all mid-size cars in this year’s 5-Year Cost to Own Awards.

 

The 2014 Chevrolet Spark EV offers the lowest five-year ownership costs than its competitors, making it the best 5-Year Cost to Own: Plug-In Vehicle.

To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/65344-kelley-blue-book-kbb-announces-2014-5-cost-to-own-award-winners

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