Toyota, Lexus Top Cost-to-Own Awards

By Staff Writer April 30, 2021

Kelley Blue Book has named the 2021 model-year brand and category winners of the annual 5-Year Cost to Own Awards. These awards recognize new vehicles with the lowest projected ownership costs over the initial five-year ownership period.

“Toyota wins the top 5-Year Cost to Own Brand for 2021, hot on the heels of its award for 2021 Best Resale Value Brand,” said Eric Ibara, director of residual values for Kelley Blue Book. “Toyota’s high residual values were the primary contributor toward the brand’s low ownership costs, given that high residual values directly correlate to lower vehicle depreciation. Meanwhile Lexus, Toyota’s luxury sibling, takes home the award for top 5-Year Cost to Own Luxury Brand, as several Lexus models lead the pack in many vehicle ownership cost categories.”

Available for new models 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.

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 valuation methodology along with critical financial data from third-party providers. 

---------------------------

2021 KELLEY BLUE BOOK 5-YEAR COST TO OWN AWARDS: BY VEHICLE CATEGORY

 COMPACT CAR: Hyundai Elantra

 MID-SIZE SUV – 3-ROW:  Subaru Ascent

 MID-SIZE CAR:   Volkswagen Passat

 FULL-SIZE SUV:  Nissan Armada

 FULL-SIZE CAR:  Dodge Charger

 LUXURY SUBCOMPACT SUV:  Lexus UX

 ENTRY-LEVEL LUXURY CAR:  Acura   ILX

 LUXURY COMPACT SUV:  Lexus NX

 LUXURY CAR:  Volvo S90

 LUXURY MID-SIZE SUV – 2-ROW:  Lexus RX

 SPORTS CAR:  Mazda MX-5 Miata

 LUXURY MID-SIZE SUV – 3- ROW:  Volvo XC90

 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:  Ford Ranger

 COMPACT SUV:  Subaru Forester

 FULL-SIZE PICKUP TRUCK:  Ford  F-150

MID-SIZE SUV – 2-ROW:  Subaru Outback

 MINIVAN:  Chrysler Voyager

 *2021 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.

 

Rate this item
(1 Vote)
Last modified on Tuesday, 04 May 2021 12:56