Kelley Blue Book has revealed the winners of its 10th annual 5-Year Cost to Own Awards, which recognizes new vehicles with the lowest estimated ownership costs over the initial five-year ownership period.
The brand category winners for the 2021 awards are Toyota and Lexus.
“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.”
As for Toyota’s luxury sibling Lexus, Ibara said the brand received the top 5-Year Cost to Own Luxury Brand award, since several of the models lead the pack in many vehicle ownership cost categories.
The awards consider information around depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs, and state fees. The data is meant to provide new-car shoppers with the “big picture” of what a new vehicle will cost them over time.
The full list of vehicle category winners can be found below: