The leading online automotive resource Kelley Blue Book's kbb.com reported on February 8, 2012, the top automotive manufacturers with the lowest average total cost of ownership for a five year ownership period, with Kia Motors America (KMA) earning the award in the non-luxury brand category and the 2012 Soul urban passenger vehicle taking top honors in the non-luxury compact car category. Kia's average Total Cost of Ownership over a five-year ownership period came in below $40,000 and the 2012 Soul was under $32,000. The Total Cost of Ownership is determined by calculating depreciation, expected fuel costs, insurance, maintenance and repair costs, state fees and more.
Michael Sprague, vice president of marketing and communications for KMA, says, "Kia has evolved dramatically as a company in the past three years and developed one of the youngest and most acclaimed vehicle lineups in the industry, offering unmatched levels of style, performance and technology. The award from Kelley Blue Book is further validation of the maturation of the Kia brand and our unique ability to exceed consumer expectations while maintaining our reputation for tremendous value."
Kelley Blue Book's goal for providing the Total Cost of Ownership for vehicles is so consumers can better understand the overall financial implications associated with vehicle ownership through the initial five year ownership period.