FOUNTAIN VALLEY, Calif. – #Hyundai has received two Cost to Own awards by Kelley Blue Book (KBB) for its Venue subcompact #SUV and all-new Elantra for a second year in a row. The tenth annual KBB 5-Year Cost to Own Awards recognize new vehicles with the lowest projected ownership costs over the initial five-year ownership period. Purchase price being only one of the many costs associated with vehicle ownership. Once shoppers consider the ongoing costs of fuel, insurance, maintenance and more, the overall financial picture can change significantly from model to model.
“Listening to customer data has allowed us to deliver products that meet consumer needs while also providing superior financial benefit. The #elantra and Venue’s being awarded by KBB to their annual 5-Year Cost to Own, reinforces our commitment in successfully addressing the full cost of vehicle ownership experience,” said Ricky Lao, director, Product Planning, #Hyundai Motor North America.
“In a very hotly contested segment where the winning margin was less than $100, the #elantra earned Kelley Blue Book’s 5-Year Cost to Own Award through its superior fuel economy and significantly lower repair costs,” said Eric Ibara, director of residual values for Kelley Blue Book. “In only its second year, the #Venue wins in the Subcompact SUV/Crossover category for having low costs in every category, but especially for its expected low repair costs.”
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 2020 5-Year Cost to Own Award winners, please visit https://www.kbb.com/articles/best-cars/lowest-5-year-cost-to-own-cars-trucks-SUVs.