- ALG, the industry benchmark of automotive residual value projections and a division of J.D. Power, awards the Kia Rio winner of the J.D. Power Canada ALG Residual Value award in the subcompact segment
- Model lines were evaluated through careful analysis by the ALG team of industry experts and ALG’s proprietary Canadian forecasting model
- Kia has been ranked six time #1 mass-market automotive brand in J.D. Power U.S. Initial Quality Study in 2020
TORONTO, Feb. 11, 2021 (GLOBE NEWSWIRE) -- The 2021 Kia Rio, a subcompact hatchback with European-influenced design, has earned J.D. Power Canada ALG Residual Value Awards for 2021 in the subcompact segment. ALG’s Residual Value Awards recognize 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 honor for the Kia Rio is a great distinction for our brand but is especially beneficial for our customers,” said Elias El-Achhab, Chief Operating Officer 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 award 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 lease term. Examples include auction values; vehicle content; vehicle pricing; industry data; and macroeconomic factors. Since these factors contribute to a more accurate residual value forecast, 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 for a particular vehicle whether the vehicle is financed, leased or purchased with cash.
For more information visit kia.ca/vehicles/rio5door2021
About Kia Canada
Kia Canada Inc. (KCI), founded in 1999 and is a subsidiary of the Kia Motors Corporation (KMC) based in Seoul, South Korea. The full line of award-winning Kia vehicles offers world-class quality and customer satisfaction through a network of 195 dealers across the country. The company employs 170 people at its headquarters in Mississauga, Ontario, as well as in locations across Canada and at its regional office in Montréal, Québec. Kia’s slogan "The Power to Surprise," symbolizes the company’s worldwide commitment to exceed customer expectations through sustained automotive innovation.
Whether it is a compact, crossover, or electric model which is among the best in the industry, each Kia vehicle offers a superior combination of precision engineering, exceptional performance, innovative features and advanced safety systems. Kia has sold over a million vehicles in Canada, including popular models in Canada like the Soul, Forte, Sportage, Sorento, Stinger and has recently added the Seltos and K5 to its lineup. To learn more, visit kia.ca or Facebook, LinkedIn, Twitter and Instagram.
Amanda Chouinard
Strategic Objectives
achouinard@strategicobjectives.com
T 416 500 0351
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/635b024f-6832-4721-80e7-a047eedd6f99