The 2013 model-year vehicles and brands (in both luxury and non-luxury categories) with the lowest projected ownership costs were announced today by Kelley Blue Book, 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.
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.
2013 5-YEAR COST TO OWN AWARD: BRAND
2013 5-YEAR COST TO OWN AWARD: LUXURY BRAND
|SUBCOMPACT CAR: |
|COMPACT CAR: |
|MID-SIZE SUV/CROSSOVER: Mitsubishi Outlander |
|SPORTY COMPACT CAR: Hyundai Veloster Turbo ||FULL-SIZE SUV/CROSSOVER: |
|MID-SIZE CAR: |
|LUXURY COMPACT SUV/CROSSOVER: |
|FULL-SIZE CAR: |
|LUXURY MID-SIZE SUV/CROSSOVER: Lincoln MKX |
|ENTRY-LEVEL LUXURY CAR: |
|LUXURY FULL-SIZE SUV/CROSSOVER: |
|LUXURY CAR: |
|MID-SIZE PICKUP TRUCK: |
Toyota Tacoma Double Cab
|HIGH-END LUXURY CAR: Porsche Panamera ||FULL-SIZE PICKUP TRUCK: Chevrolet Silverado 1500 Regular Cab |
|SPORTS CAR: |
|HIGH-PERFORMANCE CAR: |
Ford Mustang GT
|HYBRID SUV/CROSSOVER: |
Toyota Highlander Hybrid
|HYBRID/ALTERNATIVE ENERGY CAR: |
|ELECTRIC VEHICLE: Chevrolet Volt || |
(2013 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 often are most concerned with the upfront cost of a vehicle; however, consumers would be wise to consider their purchase from a more holistic standpoint by examining the total cost to own a vehicle over the initial five-year ownership period,” said Dan Ingle, vice president of vehicle valuations for Kelley Blue Book. “Kelley Blue Book’s 5-Year Cost to Own information allows consumers to evaluate which brands and models make the most sense for their pocketbooks as they prepare for a major purchase decision in buying a new car. This year’s winners provide the top options in multiple categories and at the brand level.”
Based on analysis of Kelley Blue Book’s 5-Year Cost to Own information for 2013 model-year new vehicles, Mazda and Lexus are this year’s prestigious brand winners. Mazda is the top brand among all manufacturers, surging past last year’s winner Kia with regard to its lowest projected ownership costs. Despite an average Fair Purchase Price higher than several of its competitors, Mazda offers the lowest 5-Year Cost to Own because of its low depreciation, fuel costs, and maintenance and repair costs across its full model lineup. Kelley Blue Book® Fair Purchase Price is the price people 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, MAZDA2 and all-new CX-5. Lexus is this year’s luxury brand winner, exemplifying some of the lowest costs for depreciation, fuel, and maintenance and repairs of any luxury brand. Some of the key models contributing to Lexus’ stand-out performance include the CT 200h, ES and IS models.
Another notable 5-Year Cost to Own Award win is the 2013 Hyundai Sonata, a repeat winner in the mid-size car category. The three primary competitors in this segment each are separated by a mere $200 in projected total ownership costs. The 2013 Hyundai Sonata outperformed the Honda Accord and Nissan Altima by offering superior savings in insurance costs and a lower Kelley Blue Book Fair Purchase Price.
In addition, the redesigned 2013 Lexus GS is a top contender among the luxury car segment, beating Audi’s A5 and A6 models. The vehicle’s low depreciation and maintenance and repair costs make it this year’s 5-Year Cost to Own Award: Luxury Car winner. The depreciation costs for the Lexus GS came in 6.4 percent below the Audi A5 and 21.7 percent below the Audi A6.
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 sophisticated valuation methodology along with critical financial data from third-party providers.
For more information about the 2013 5-Year Cost to Own Award winners, please visit http://www.kbb.com/car-reviews-and-news/top-10/5-year-cost-to-own-awards-2013/.