Subaru’s high residual value is a main reason that the automaker has won the top brand ownership cost category in the 2020 Kelley Blue Book 5-Year Cost-to-Own Awards, Eric Ibara said.
“Subaru claims the top brand position for the second year in a row, right on the heels of winning a Kelley Blue Book award for Best Resale Value Brand of 2020,” said Ibara, who is director of 5-Year Cost to Own for Kelley Blue Book, in the release.
Kelley Blue Book said its 5-Year Cost-to-Own Awards recognize new vehicles with the lowest projected ownership costs over the initial five-year ownership period. Kelley said it puts on the awards “to help in-market shoppers buy smart and save money.”
The awards recognize new vehicles with the lowest projected ownership costs over the initial five-year ownership period.
“Our 5-Year Cost to Own information breaks down typical ownership costs to help shoppers evaluate the impactful out-of-pocket expenses they will incur over time beyond the initial price paid,” Ibara said.
In the luxury brand category, Acura claimed the top prize. In many vehicle ownership cost categories, several of the key models in Acura’s lineup “performed well above the segment average,” Kelley Blue Book said.
The company said its 5-Year Cost to Own information considers depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees.
With the data, according to Kelley, consumers can see the big picture of the cost of a new vehicle over time. That helps shoppers save money by choosing a vehicle that is best for their needs and long-term budget.
Kelley Blue Book, A Cox Automotive brand, developed its 5-Year Cost to Own information using Kelley Blue Book Residual Values to calculate depreciation costs.
To calculate total ownership costs for new vehicles, Kelley Blue Book applies a valuation methodology along with financial data from third-party providers.
Following is a list of the winners:
— 2020 Kelley Blue Book 5-year cost to own award: brand
— 2020 Kelley Blue Book 5-year cost to own award: luxury brand
— 2020 Kelley Blue Book 5-year Cost to Own Awards: by vehicle category
Compact car: Hyundai Elantra
Mid-size SUV – 3-row: Mitsubishi Outlander
Mid-size car: Honda Accord
Full-size SUV: Chevrolet Tahoe
Full-size car: Chevrolet Impala
Luxury subcompact SUV: Lexus UX
Entry-level luxury car: Acura ILX
Luxury compact SUV: Lexus NX
Luxury car: Volvo V90
Luxury mid-size SUV – 2-ROW: Lexus RX
Sports car: Fiat 124 Spider
Luxury mid-size SUV – 3-ROW: Acura MDX
Hybrid/alternative energy car: Toyota Corolla Hybrid
Luxury full-size SUV: Infiniti QX80
Electric vehicle: Nissan LEAF
Off-road SUV: Jeep Wrangler
Subcompact SUV: Hyundai Venue
Mid-size pickup truck: Toyota Tacoma
Compact SUV: Subaru Forester
Full-size pickup truck: Chevrolet Silverado 1500
Mid-size SUV – 2-row: Hyundai Santa Fe
Minivan: Chrysler Voyager
(2020 model-year vehicles’ projected ownership costs are based on the average Kelley Blue Book 5-Year Cost to Own data for the initial five-year ownership period).