Automotive vehicle valuation company, Kelley Blue Book (KBB) in America has handed three Hyundai models their “5-year Cost to Own Award” having found them to be the lowest cost of ownership over their initial 5-year period when compared to any other cars in their category. The three models consists of the 2013 Veloster, 2013 Veloster Turbo and the 2013 Sonata.
The 2013 Hyundai Veloster came out tops in the Compact Car Segment, while its forced-induced sibling, the Veloster Turbo, clinched first place in the Sporty Compact Category. However, Hyundai’s 2013 Sonata was able to surge ahead of its competition to become the best in the Mid-Size Car Segment against the likes of Honda’s Accord and Toyota’s Camry.
Though mostly applicable in the US, the criteria for KBB’s 5-Year Cost to Own Award takes into account the expenses incurred for owning a particular vehicle; making reference to depreciation levels, expected fuel costs, finance and insurance fees, maintenance and repair costs and state fees for new models – all of which help those shopping for a new car to make a more informed decisions before purchasing their new ride.
According to Scott Margason, Director of Product Planning at Hyundai Motor America: “Low cost of ownership is one area in which Hyundai strives to be industry-leading, and receiving these awards from KBB showcases our ability to cater to the varying dynamics of our customers. Regardless of which vehicle our customers choose.”
While America deems the new Veloster a cost-effective vehicle to own over a 5-year period, it only makes us wonder how cost-effective it really is in our neck of the woods. Do leave your comments as to how your Sonata or Veloster is treating you thus far, even though the Veloster just made its debut here in December 2012.