Four 2014 Chevrolet models have won Kelley Blue Book’s 5-Year Cost to Own Award after they proved to be less expensive to own and operate than comparable models from the competition.
“We want to make sure the customer has a great experience from shopping for their new Chevrolet to selling it,” Russ Clark, Chevrolet director of marketing, said in a statement. “Keeping the cost of ownership low is an integral part of that, and it hits closest to home with our customers.”
The awards give credibility to the cost savings and value in Chevrolet’s EV lineup. The Spark EV is one of the most affordable EV’s on the market, selling for $19, 900 after full federal incentives, while many Volt owners can travel up to 900 miles between fuel stops, saving them $ 1, 300 annually on fuel costs.
KBB uses a sophisticated valuation method along with financial data form third-party providers to compile a 5-year Cost to Own for all models. Criteria for the valuation includes depreciation, fuel costs, finance and insurance, maintenance and repair, and state fees.