Toronto, Ontario — The 2021 Kia Rio, a subcompact hatchback with a European-influenced design, has earned J.D. Power Canada Alg Residual Value Awards for 2021 in the subcompact segment.
ALG’s Residual Value Awards recognizes the vehicles segments that are projected to hold the highest percentage of the manufacturer’s suggested retail price (MSRP) after a four-year period for mainstream vehicles, and after a three-year period for premium vehicles.
“Earning this honour for the Kia Rio is a great distinction for our brand but is especially beneficial for our customers,” said Elias El-Achhab, COO at Kia Canada. “This distinction gives Kia Rio owners confidence and is a testament to our strong design and engineering. This is another proud milestone in addition to many awards wins and record sales successes we’ve seen in Canada in 2020.”
According to ALG, numerous variables affect the actual residual value of a vehicle over a multi-year term. Examples include action values; vehicle content; vehicle pricing; industry data, and macroeconomic factors.
Since these factors contribute to more accurate residual value forecasts, vehicle shoppers are able to better understand the total cost of ownership.
The residual value is a vital consideration for car buyers when assessing the total cost of ownership of a particular vehicle whether the vehicle is financed, leased or purchased with cash.
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