FOUNTAIN VALLEY, Calif., April 29, 2021 /PRNewswire/ -- 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.
About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area.
HYUNDAI MOTOR AMERICA
At Hyundai Motor America, we believe everyone deserves better. From the way we design and build our cars to the way we treat the people who drive them, making things better is at the heart of everything we do. Hyundai's technology-rich product lineup of cars, SUVs and alternative-powered electric and fuel cell vehicles is backed by Hyundai Assurance—our promise to create a better experience for customers. Hyundai vehicles are sold and serviced through more than 820 dealerships nationwide and nearly half of those sold in the U.S. are built at Hyundai Motor Manufacturing Alabama. Hyundai Motor America is headquartered in Fountain Valley, California, and is a subsidiary of Hyundai Motor Company of Korea.
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SOURCE Hyundai Motor America