Kia has been recognized in the United States for its high residual value, proving its product competitiveness based on excellent quality and marketability.
Kia models have made the headlines by achieving awards in five categories in the ‘2023 Residual Value Awards’ announced by U.S. market research firm J.D. Power, becoming the brand with the most winning models.
One of the key indicators that U.S. consumers consider most important when purchasing a vehicle, the J.D. Power residual value takes into account various factors such as marketability, quality, brand recognition, and sales strategies to estimate the expected used car price three years later compared to the new car price.
Kia’s Telluride was crowned as the top residual value model in the midsize SUV segment among 17 mainstream brands, while the Sportage won in the compact SUV category, the Soul in the subcompact SUV category, the K5 in the midsize sedan category, and the Pride (known locally as the Rio) in the subcompact sedan category. This achievement allowed Kia to surpass traditional heavyweights like Honda and Toyota and gain recognition in the most award categories.
This award reflects high market expectations for the residual value of Kia models, which is becoming crucial as concerns regarding used car prices rise in a volatile used car market. It is expected to play a significant role in influencing new car purchasing decisions.
J.D. Power’s Eric Lyman stated, “Kia’s report card reflects how much they have grown over the years. With a strong lineup in design, quality, and residual value, Kia has become a formidable contender that cannot be underestimated.”
A Kia representative highlighted that being named the brand with the most models recognized for residual value is a testament to Kia’s excellent quality and marketability in the U.S. market, and they aim to continuously enhance brand value with products customers can trust and choose.
Kia has previously ranked first overall in the ‘2022 Vehicle Dependability Study (VDS)’ conducted by J.D. Power, receiving the highest marks out of a total of 32 brands, including luxury brands.
Lee Sang-jin daedusj@autodiary.kr