South Korean automaker Kia said Tuesday it took home five titles on Thursday in US market research firm J.D. Power's ALG Residual Value Awards, winning the most number of awards among its rivals.
J.D. Power’s residual value assesses commercial value, quality, brand awareness and sales strategy to recognize vehicle models that are projected to hold the highest percentage of retail price when resold after three years. The awards are the industry’s standard in recognizing vehicle models with high value retention, and it is growing in importance as resale value becomes one of the most considered factors in vehicle purchase, according to the market research firm.
Out of 17 brand award segments, Kia’s Telluride, Sportage, K5, Soul and Rio were recognized in the five areas of Midsize SUVs with three-row seating, compact SUVs, Midsize Cars, Micro SUVs, and Small Cars, respectively. Kia was also recognized as the “most improved mass market brand year over year.”
“This year’s achievement by Kia speaks volumes about how far the brand has come,” said Eric Lyman, vice president of J.D. Power’s residual value projection division ALG. “The marketplace is acknowledging that Kia has a very strong product lineup in terms of design, quality and residual values.”
Meanwhile, Kia also ranked first for quality among 32 carmakers in J.D. Power’s 2022 Vehicle Dependability Study, published in February.