Electric cars may be great for saving money on gas, but a new report from Kelley Blue Book, commissioned by USA Today, shows that EVs might not be a great value option for their first owners. The study found that compared to gas-powered vehicles, EVs tend to lose significantly more of their value in the first five years of ownership, corroborating a study conducted in the UK, which we reported on earlier this month.
When it comes to new cars, more green now means less green later. The UK-based CAP Automotive, which regularly publishes auto-depreciation reports, recently released a study that found that electric vehicles lose their value substantially faster than their gas-powered counterparts. Specifically, EVs in the UK lose about 80 percent of their value within the first three years of ownership, while most cars lose somewhere between 60 and 70 percent. The best value retainers are supercars, SUVs and lu
Toyota and Lexus stormed the 2014 Kelley Blue Book Best Resale Value Awards, winning a combined 18 categories including best brand and best luxury brand. This marks the third year in a row that both automakers have won the Brand and Luxury Brand resale value awards. In all, Toyota won 11 categories and Lexus won seven.
The average resale value of General Motors vehicles climbed to 44 percent last year, matching that of Chrysler and sitting one percent less than Ford, but still 7.5 percent less than Honda. It's a welcome increase from the post-bankruptcy days of 2009 when 36.5 percent was number upon which lease rates were based. According to Bloomberg, even though that puts GM in line with the overall market rate of 46.5 percent, the company figures it can save from $150 million to $200 million if it can incre
Factory fuel economy packages, the special trims or option groups bundled with efficiency improving items such as low-rolling-resistance tires, aerodynamic tweaks and electric power steering, cost the consumer a few hundred dollars (or more) at the time of purchase but don't seem to add any resale value down the road, says a recent report from Cars.com.
Each year, Consumer Reports compiles a list of the vehicles it expects to be the best and worst when it comes to holding their original resale value, and the list of best values for 2012 is, not surprisingly, dominated by Toyota products. Overall, the best value for 2012 is the Toyota Prius, while the worst car for the money is the BMW 750Li, according to the magazine.
Kelley Blue Book announced its annual Best Resale Value Award winners, and we weren't too surprised to see the list dominated by Japanese automakers – mainly Toyota and Honda. KBB hands out the awards based on the projected residual value of mostly all 2013 model year vehicles, and Toyota skated home with a number of awards including 10 of the 22 overall categories and having five of its products in the top 10 for models with best resale value. KBB's Best Resale Value Awards were announced
For car shoppers doing their math on lifecycle ownership costs, hybrid electric vehicles always present the challenge of being more expensive – maybe $5,000 more – than comparable non-hybrid models. High gasoline prices can help tip the scale in favor of gas-electrics, as do great loan and lease deals. Resale value is another factor in the equation, and several hybrid models, including a plug-in hybrid version, have been on the market long enough to show their long-term value.
First came Hyundai's and Kia's corporate admission of guilt about overstating fuel economy numbers, then the recompense, then the lawsuits. Now begins the process of gnawing on every one of the consequences. In case you've only just returned from the International Space Station, Hyundai and Kia have admitted that about a third of the cars they have sold over the past three years have advertised inflated EPA fuel mileage numbers. For instance, the highway mpg number for the 2013 Hyundai Accent is
Honda and Acura have had their fair share of issues over the last few years – from earthquakes, tsunamis and floods to important new models not being all that well received – but that hasn't stopped them from claiming top honors in Edmunds' 2012 Best Retained Value Awards.
ALG has released its annual Resale Value Awards. For 2012, Subaru took home the home the honor of being the top mainstream brand, while Lexus nabbed the top luxury automaker designation. ALG says that once again, Japanese automakers have performed better than their American and European counterparts when it comes to resale. Of the 21 total ALG awards, 11 went to Japanese manufacturers, though Audi bucked that trend by being the single automaker to take home the most awards. Domestic manufacturer
Kelley Blue Book has announced the company's 2012 Best Resale Value Awards. The honors are handed out based on projections crafted by the KBB staff of automotive analysts for cars and trucks expected to retain the largest percentage of their original list price after five years.
Which electric car will have the best resale value? According to Kelley Blue Book, that'd be the Chevy Volt. During an event in Los Angeles last night, KBB announced its best level guesses as to which 2012 models will be most appealing to used car buyers on some dusty lot in the future. Aside from the Volt, other green winners include the 2012 Honda Civic Hybrid (hybrid car category), the Lexus RX 450h (hybrid SUV) and the Honda Fit (subcompact). You can see the full list of winners in the press
According to the experts-of-such-things at Kelley Blue Book, the average vehicle will only retain about 35 percent of its original value after the initial five-year ownership period, often making depreciation the greatest expense incurred by drivers over that time period. That's a hefty chunk of change to be sure, so a vehicle's anticipated resale value should be of prime concern when shopping for your next car or truck.