Last week, Kia took home the highest number of model awards – five – in the J.D. Power 2023 U.S. ALG Residual Value Awards. The segment wins by Telluride (Midsize SUVs with 3-row seating), Sportage (Compact SUVs), K5 (Midsize Cars), Soul (Micro SUVs), and Rio (Small Cars), led Kia to the best year-over-year improvement of any mass market brand in the annual evaluation.
“Kia is a brand on the move, with more models predicted to hold their value within their respective segments than any mass market brand,” said Steven Center, COO and EVP, Kia America. “Resale value is one of the most important purchase considerations, and from rugged and capable SUVs to sporty sedans, the latest J.D. Power U.S. ALG Residual Value Awards are the latest demonstration of the strength and breadth of Kia’s lineup.”
The U.S. J.D. Power ALG Residual Value Awards are the automotive industry standard in recognizing vehicle models projected to hold the highest percentage of their manufacturer’s suggested retail price following a three-year period of ownership. This value retention is a key variable in the lease cost of a vehicle, underscoring an automaker’s success in the areas of long-term quality and design, as well as the overall desirability of automotive brands and their models.
“This year’s achievement by Kia speaks volumes about how far the brand has come,” said Eric Lyman, vice president of ALG, the division of J.D. Power recognized as the industry benchmark of automotive residual value projections. “The marketplace is acknowledging that Kia has a very strong product lineup in terms of design, quality and residual values. Kia has become a force to be reckoned with.”