Hyundai wins 5-Year Cost to Own awards from KBB.com

Hyundai is standing tall going into the 2013 Chicago Show as they announced Feb. 5 that Kelley Blue Book's KBB.com had awarded three of their 2013 vehicles a 5-Year Cost to Own Award.
The 2013 Veloster won in the Compact Car Segment, the 2013 Veloster Turbo took first place in the Sporty Compact category, and the 2013 Sonata topped the Mid-Size Car segment.

View slideshow: Hyundai wins three 5-Year Cost to Own awards from KBB.com

Each vehicle was found to have the lowest cost of ownership over the initial 5-year ownership period, compared to any other car in their category.
The awards will be presented to Hyundai at the 2013 Chicago Auto Show on Feb. 7.

2013 Veloster Turbo wins lowest 5-Year Cost to Own Award

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Hyundai

Kelley Blue Book’s 5-Year Cost to Own Award reflects and accounts for nearly all expenses of car ownership, including depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees for new models.
According to KBB.com, the awards 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 lower projected five-year total.
“The 5-Year Cost to Own Awards honor the vehicles and brands, both luxury and non-luxury, with the lowest projected ownership costs,” said Dan Ingle, vice president of vehicle valuations for Kelley Blue Book. “Highly competitive pricing and lower depreciation costs provide Hyundai’s vehicle line-up with a notable advantage. Coupled with impressive fuel economy and affordable insurance rates, it is no surprise that Hyundai is taking this honor in multiple vehicle segments.”
Winning the Compact Segment was the 2013 Hyundai Veloster with a 5-Year Cost to Own of $30,902. The runners up were the 2013 Dodge Dart and the 2013 Toyota Corolla.
The 2013 Veloster Turbo was the winner of the Sporty Compact Car segment with a 5-Year Cost to Own of $35,607. The runners up were the 2013 Ford Focus ST and the 2013 Mazda MAZDASPEED3.
The Mid-Size Segment winner was the 2013 Hyundai Sonata. Its 5-Year Cost to Own is $38,232. Runners up to the Sonata were the 2013 Nissan Altima and the 2013 Honda Accord.
“Low cost of ownership is one area in which Hyundai strives to be industry-leading,” said Scott Margason, director, Product Planning, Hyundai Motor America.
“Receiving these awards from KBB.com showcases our ability to cater to the varying dynamics of our customers. Regardless of which vehicle our customers choose - a trendy and ergonomic Veloster, a sport-focused Veloster Turbo, or a family-oriented and user-friendly Sonata - value for money and low cost to own are truly characteristic of the Hyundai ownership experience", Margason added.
The 5-Year Cost to Own awards are presented annually in conjunction with the Chicago Auto Show.
The 2013 KBB.com 5-Year Cost to Own Awards will honor individual winners in 22 different market segments, plus two overall brand winners.
The comprehensive evaluation criteria used to determine the most deserving cars, trucks, SUVs and minivans include their Kelley Blue Book Fair Purchase Price, projected depreciation, financing costs, insurance costs and state fees as well as the anticipated total cost of fuel, scheduled maintenance and repairs.
The KBB.com 5-Year Cost to Own projections are calculated at a granular vehicle level (e.g. 2013 Toyota Camry LE Sedan w/ V-6). To obtain make-model level 5-Year Cost to Own projections, Kelley Blue Book averages the vehicle level ownership cost projections to the model level, using actual new-car sales figures.
The vehicles, across all segments, with the lowest 5-Year Cost to Own values were:

1. 2013 Scion IQ - $27,006
2. 2013 Hyundai Veloster - $30,902
3. 2013 Honda Insight - $33,014
4. 2013 Jeep Patriot - $35,161
5. 2013 Hyundai Veloster Turbo - $35,607

The 2013 Hyundai Sonata was number seven at $38,232.

Source: Examiner