TORRANCE, California, (November 18, 2013) — Kelly Blue Book’s editors awarded Toyota the 2014 Best Brand prize as part of the online publication’s (www.kbb.com) 2014 Best Resale Value Awards. These awards recognize vehicles that show less depreciation during the first 5 years of ownership, and thus can represent wiser financial choices for consumer purchase. Based on Kelly Blue Book’s calculations, on average, a 2014 vehicle will lose 39.7% of its value after five years. The Kelly Blue Book Best Resale Value Awards recognize overall brand value and model-year vehicle category winners. In helping Toyota garner top honors with the 2014 Best Brand award, Toyota’s trucks made a strong showing while helping the brand earn awards in six vehicle-segment categories:
Four models were also named to KBB.com’s list of Top 10 Cars from the 2014 Resale Value Awards. These models were the Toyota FJ Cruiser, Tacoma, Tundra, and 4Runner.
“We are proud that the Toyota brand and six Toyota models were recognized by Kelly Blue Book for their excellent resale value. This key buying criteria is just one of the many reasons consumers return to the Toyota brand”, said Bill Fay, Group Vice President and General Manager of Toyota division.
Kelley Blue Book’s Best Resale Value Awards are in its 12th year and are based on projections from the Kelley Blue Book®Official Residual Value Guide. Kelley Blue Book® Residual Values are established by experienced automotive analysts that review the output from the statistical models built upon millions of transactions. Vehicles that earn the highest five-year residual values, expressed as a percentage of their original Manufacturer’s Suggested Retail Price (MSRP) are selected for these prestigious awards. Low-volume vehicles and vehicles with an MSRP of more than $60,000 are excluded from award consideration, except in the luxury and high-performance categories.
Kelley Blue Book reports projections based on current vehicle data, relevant auction transactions, sales data, market conditions for each vehicle, competition within vehicle segments, expectations of the future economy and the combined experience of Kelley Blue Book’s residual analysts. Residual values reflect projected future auction values for vehicles in average condition with 75,000 miles at the end of a five-year lease or ownership period. Kelley Blue Book’s residual values are used by manufacturers, banks, financial institutions and the automotive leasing industry.
Toyota (NYSE:TM) established operations in the United States in 1957 and currently operates 10 manufacturing plants. There are nearly 1,500 Toyota, Lexus and Scion dealerships in the United States, which sold more than 2 million vehicles in 2012.Toyota directly employs over 31,000 in the United States and its investment here is currently valued at more than $24 billion, including sales and manufacturing operations, research and development, financial services and design. Toyota's annual purchasing of parts, materials, goods and services from U.S. suppliers totals over $26 billion.
Toyota Motor Manufacturing, Kentucky, Inc.