Kelley Blue Book announced its 2023 5-Year Cost to Own award winners for the United States market on April 27. The awards highlight new vehicles with the lowest projected ownership costs over the initial five-year period of ownership.
“For the third year in a row, Toyota and its luxury sibling Lexus take home the top brand prizes for 5-Year Cost to Own in 2023,” said Janice Yoell, Senior Manager of Valuations for Kelley Blue Book. “Both brands feature several models with high residual values — meaning the vehicle holds its value well over time — leading to low vehicle depreciation, which is a key factor in determining cost of ownership.”
The awards take into account things like depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees. The data is meant to provide consumers with the big picture of what a new vehicle will cost them over time — and in so doing, help them to save money by selecting a vehicle that fits their needs and budget.
The 2023 Kelley Blue Book 5-Year Cost to Own Award Winners are listed below:
BRAND
Toyota
LUXURY BRAND
Lexus
BY VEHICLE CATEGORY
