Programs from Lexus, Kia Shine Brightest Among CPO Offerings this Year

ATLANTA, June 3, 2021 – For car shoppers seeking the peace of mind that comes with buying a new car but pricing that aligns closer with buying used, a Certified Pre-Owned (CPO) vehicle is a great solution. CPO vehicles are used models that have been certified by the automaker after undergoing a rigorous inspection, carrying safeguards like additional factory-backed warranties and other advantages. With nearly every auto manufacturer offering a CPO program, it can be difficult for consumers to know which brands offer the most benefits. Because not all CPO programs are created equal, the experts at Autotrader recently evaluated all the CPO programs on the market and determined the automakers currently offering the Best CPO Programs in 2021 are Lexus (among luxury brands) and Kia (among non-luxury brands).

Different carmakers have different standards for their CPO programs, but most certified vehicles have lower mileage and are newer model years. Beyond extra factory-backed warranty coverage, CPO vehicles can offer various value-adds like special financing, 24-hour roadside assistance, free scheduled maintenance visits, free loaner cars during repairs, trip-interruption reimbursement and more. Although the details of warranties and other perks vary from brand to brand, the idea behind every automaker’s CPO program remains the same: provide some additional protection and peace of mind. While buying CPO costs a little more, for many used-car buyers it is money well-spent.

“With used-car prices on the rise and new-car inventory scarce, right now it makes a lot of sense to consider a certified pre-owned car or truck,” said Brian Moody, executive editor for Autotrader. “Autotrader expects the prices of used cars to remain higher than usual for the remainder of 2021, so the gap between a typical used-vehicle price and a CPO price is narrowing. Shoppers can view these current market conditions as an advantage, as buying CPO includes several benefits above and beyond purchasing a non-certified used car.”

After evaluating each available CPO program currently on the market, Lexus and Kia emerged as the best among luxury and non-luxury brands, respectively.

Autotrader’s Best Certified Pre-Owned Luxury Program of 2021: Lexus L/Certified

Hitting all the high notes, Lexus L/Certified leads the way among luxury CPO programs due to the absence of a mileage cap for its added CPO warranty, in addition to the program’s other robust features. To qualify for Lexus L/Certified, a vehicle must be no more than six years old, have no more than 70,000 miles on the odometer, pass a factory-supervised 161-point inspection, and have a clean vehicle-history report.

L/Certified stands out for its CPO warranty adding two years with unlimited mileage coverage to whatever remains of its original four-year/50,000-mile new-car warranty. That’s a total of six years/unlimited-mile limited bumper-to-bumper and powertrain coverage from the new-car purchase date. Other highlights of the Lexus L/Certified program include: 24-hour roadside assistance, loaner car covered during repairs, and trip-interruption allowance providing reimbursement for meals, a rental car ($50 per day for up to five days), and lodging (up to $200 per night for up to three nights). Rounding out the perks are four scheduled-maintenance visits.

Autotrader’s Best Certified Pre-Owned Non-Luxury Program of 2021: Kia Certified Pre-Owned

After weighing all aspects of Kia’s CPO program, it rose to the top among non-luxury automakers in a very competitive marketplace. Kia’s stellar powertrain warranty and the fact that the CPO coverage is transferable gave the brand its leg-up on the competition to win this year’s honor. Kia’s CPO coverage can be transferred to another private owner for a $40 fee. For a used car or SUV to qualify for Kia’s CPO program, it must be no more than five years old, have no more than 60,000 miles on the odometer, pass a 173-point inspection, and have a clean vehicle-history report.

Kia’s CPO program stands out due to its industry-leading 10-year/100,000-mile powertrain warranty. When a Kia model passes from its original owner, its powertrain warranty is reduced to five years/60,000 miles from the original new-car purchase date. However, Kia reinstates the original 10-year/100,000-mile powertrain warranty for its CPO cars and SUVs. In addition, Kia provides its CPO vehicles with a one-year/12,000-mile limited bumper-to-bumper warranty beginning on the CPO sale date (requiring a $50 deductible for each covered repair). Along with the extra warranty coverage, Kia’s additional CPO program perks include: 24-hour roadside assistance, up to 10 days car-rental allowance of $35 per day for covered repairs, limited trip-interruption reimbursement of up to $500 for five days, and a three-month satellite radio subscription.

Autotrader identified the 2021 Best Luxury and Best Non-Luxury CPO Programs based on a series of factors, including powertrain warranty length, available inventory, bumper-to-bumper warranty coverage, special financing terms, highest volume and broadest possible spectrum of CPO vehicle types and price ranges currently listed for sale, and ease of understanding warranty overall.

For more information about buying CPO, including details about manufacturer CPO programs, up-to-date CPO vehicle listings for sale in your area and more, visit https://www.autotrader.com/car-shopping/best-certified-pre-owned-programs.

For more information and news from Autotrader, visit press.autotrader.com, follow us on Twitter at https://twitter.com/Autotrader_com (or @Autotrader_com), Instagram at https://www.instagram.com/autotrader_com/ (or @autotrader_com), like our page on Facebook at https://www.facebook.com/autotrader/, and LinkedIn at https://www.linkedin.com/company/autotrader-com.

About Autotrader
Autotrader is the most recognized third-party car listings brand, with the most engaged audience of in-market car shoppers. As the foremost authority on automotive consumer insights and expert in online and mobile marketing, Autotrader makes the car shopping experience easy and fun for today's empowered car shopper looking to find or sell the perfect new, used or Certified Pre-Owned car. Using technology, shopper insights and local market guidance, Autotrader's comprehensive marketing and retailing solutions allow consumers to build their deal online, and guide dealers to personalized digital marketing strategies that grow brand, drive traffic and connect the online and in-store shopping experience. Autotrader is a Cox Automotive™ brand. Cox Automotive is a subsidiary of Cox Enterprises. For more information, please visit http://press.autotrader.com. 

About Cox Automotive

Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company’s more than 27,000 team members and family of brands, including Autotrader®, Dealer.com®, Dealertrack®, Dickinson Fleet Services, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com

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Media Contact:
Nichole Mrasek               
404-568-6352    

nichole.mrasek@coxautoinc.com

Experts Recommend New Two-Row, Three-Row, Full-Size SUVs, Minivans to Suit Any Family

IRVINE, Calif., May 3, 2021 – Buying a new family car is a task brimming with important considerations, from lifestyle needs and budget concerns to passenger safety and comfort. With an increasing number of new SUV models and options hitting the marketplace every year, in addition to the perennial family-car favorite the minivan, the choices available can be overwhelming to parents in any stage of life. To help narrow down the consideration set, the experts at Kelley Blue Book named the Best Family Cars of 2021 to aid parents in deciding which new vehicle best suits their family.

“When it comes to buying a car for a new or growing family, parents understandably want assurance that their vehicle has outstanding safety and technology features to help protect their precious cargo,” said Matt DeLorenzo, senior managing editor for Kelley Blue Book. “We also know budget factors are top-of-mind for families, so we place a heavy emphasis on overall value including purchase and ownership costs through Kelley Blue Book’s Fair Purchase Price and 5-Year Cost to Own information.”

The Best Family Cars of 2021 include two- and three-row crossover SUVs offering the passenger and cargo-carrying capacity that make them go-to choices, and full-size SUVs/minivans that hold appeal for their roominess and flexibility. This annual list features top recommendations based on in-depth testing with a focus on safety, overall value, connectivity, technology and driver-assist features. Kelley Blue Book’s editorial staff constantly reviews the newest cars on the market, evaluating options through many lenses to provide the most comprehensive information possible for new-car shoppers. The team also uses data from the National Highway Traffic Safety Administration (NHTSA) and Insurance Institute for Highway Safety (IIHS) to ensure recommended vehicles have top safety ratings.

Kelley Blue Book’s Best Family Cars of 2021

Kelley Blue Book’s Best Family Cars of 2021 provides valued service for families to narrow down their search for a new vehicle, and its Dealer Home Services makes it easier to shop for a car right from home – from a virtual walk around or test drive, to delivering a car right to your driveway with touchless delivery.

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on LinkedIn at https://www.linkedin.com/company/kelley-blue-book/, Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb  and follow us on Instagram at https://www.instagram.com/kbb_com/ (or @kbb_com).

About Kelley Blue Book (www.kbb.com) 
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book is a Cox Automotive brand. 

About Cox Automotive 
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues nearly $20 billion. www.coxautoinc.com

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Media Contact:

Brenna Buehler 

949-473-6595 

brenna.buehler@coxautoinc.com

Amid Rapid Segment Growth, Tax Season and Earth Day, Experts Break Down EV Tax Credit Details and More

IRVINE, Calif., April 22, 2021 – Electric cars undoubtedly are the wave of the future, and growth in the segment is on quite an upward trajectory. According to data from Cox Automotive, electrified vehicles accounted for 7.8% of the total Q1 2021 sales, up from 4.8% in the same period last year. By the end of 2024, experts expect to see more than 100 electric models available to car shoppers. With an ever-growing list of new electric vehicles (EVs) hitting the marketplace, many shoppers are intrigued by the option to switch from gasoline to electric. Yet as they seek to understand the environmental and financial benefits an electric car provides, shoppers may be confused trying to navigate the details of available tax credits for EV owners. Accordingly, here amid tax season and just in time for Earth Day 2021, the experts at Kelley Blue Book created How Do Electric Car Tax Credits Work? to help break down the facts.

“The electric car market is quickly growing, and data shows that car shoppers are getting more on board with the idea of driving an EV,” said Matt DeLorenzo, senior managing editor for Kelley Blue Book. “While it’s easy to understand the environmental benefits of driving an EV, sometimes the nuances of the financial benefits aren’t quite as clear. Available incentives can vary greatly on the state and local level, but the well-publicized federal tax credit is something that certainly piques the interest of many shoppers considering going electric. We want to help them understand these details so they can go into the car-buying process feeling confident and knowledgeable.”

Understanding the $7,500 Federal Tax Credit

Most shoppers considering an EV likely have heard of the most significant government incentive, a federal tax credit worth $7,500 for certain alternative-energy cars. While that can help drive down the overall cost of a more expensive EV, shoppers should understand the details and that it doesn’t necessarily apply in all circumstances.

• You Don’t Get the Tax Credit Right Away – While manufacturers may advertise it as a discount on the car’s price, it isn’t. It is a government policy that allows you to claim up to $7,500 in credit against federal income taxes you owe in the year in which you buy the car. In other words, it reduces your tax liability. If you’re eligible for a refund, you’ll get whatever credit you’re entitled to on top of that. Buyers still must pay the full price they negotiate for the car, and then they can claim the credit the next time they file their taxes.
• It Applies Only to New-Car Sales, and It Doesn’t Apply to Leased Vehicles – If you’re leasing a new EV, the tax credit will go to the manufacturer offering you the lease. However, they may choose to apply that credit to help lower your monthly payments, which is a good point for you to bring up in negotiations.
• It Applies to EV, Plug-in Hybrid, and Fuel Cell Vehicles – The law states that the credit applies to road-going vehicles that are charged from an external source and have battery packs with 4 kilowatt-hours or greater. The U.S. Department of Energy maintains a list of vehicles that qualify for the tax credit and the amount buyers could deduct for them.
• Some Electric Cars are No Longer Eligible – The full credit is available on the first 200,000 vehicles a manufacturer builds; beyond that, the credit begins to sunset. Currently, two manufacturers have completely exhausted their available credit: Tesla and General Motors.
• It May Change This Year – The federal government’s EV tax credit program may change dramatically in 2021, and currently there are a few different proposals working their way through Congress. If you’re able to wait and don’t need to buy an EV soon, it could be worth letting these bills get settled before you buy. With more EVs coming to market and manufacturers lobbying for assistance to ensure their EV bets pay off, chances are that something may happen to make EV tax incentives dramatically better for new-car buyers this year.

State and Local Incentives Could Be Available; Your Electric Utility Company May Help

While the federal government’s effort toward EV discounts is largest, some states and local governments have incentive programs to help new-car buyers afford a more efficient vehicle. These can be things like tax credits, rebates, reduced vehicle taxes, single-occupant carpool-lane access stickers, and exemptions from registration or inspection fees. The U.S. Department of Energy maintains an interactive list of state-level incentives. In addition, some local electric utilities have incentive programs to help buyers get into electric vehicles, like rebates or discounted electric rates for charging an EV outside peak hours. It’s worth checking with your electric utility to see what incentives they may offer if you’re considering buying an EV.

Additional EV Information and Consumer Advice

The editors at Kelley Blue Book also have created several articles with consumer advice and information about EVs to help shoppers navigate the evolving electric car landscape:

• How Much Does It Cost to Charge an Electric Car?
• How Long Does It Take to Charge an Electric Car?   
• 5 Fastest-Charging Electric Cars
• An EV Charger Buying Guide: See All Your Options
• Electric Car Range – Everything You Need to Know
• 10 Longest-Range Electric Cars
• Does it Cost More for Electric Car Insurance?
• Evaluating EV Facts over EV Hype
• 10 Things to Know Before Buying a Used Electric Car

For more information from Kelley Blue Book about electric cars, EV tax credits and more, visit https://www.kbb.com/car-advice/how-do-electric-car-tax-credits-work/.

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on LinkedIn at https://www.linkedin.com/company/kelley-blue-book/, Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb  and follow us on Instagram at https://www.instagram.com/kbb_com/ (or @kbb_com).

About Kelley Blue Book (www.kbb.com) 
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book is a Cox Automotive brand. 

About Cox Automotive 
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues nearly $20 billion. www.coxautoinc.com

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Media Contact:
Brenna Buehler                                                                               
949-473-6595                                                    

brenna.buehler@coxautoinc.com

During Earth Month 2021, the search for a new battery-powered vehicle just got easier

ATLANTA, April 15, 2021 -- The electric vehicle (EV) boom is about to go into overdrive as auto manufacturers increasingly prioritize the electrification of their vehicle fleets and shoppers express their openness to making the switch. In fact, as many as 30% of consumers indicate they are more likely to consider purchasing an EV in 20211. Faced with an ever-growing number of EV choices, there are several factors for first-time electric car buyers to consider in their journey of going green, including costs, incentives, battery life and driving range. With this in mind, the experts at Autotrader recently named the 10 Best Electric Cars for 2021.

"Shopping for an EV in 2021 is an exciting prospect, from the variety of new vehicle options to the range of features offered across multiple price points," said Brian Moody, executive editor for Autotrader. "While EVs historically are more expensive than traditional gas-powered vehicles, the rapid advances in battery technology and increased manufacturer efforts to roll out new models are making EVs more accessible to purchase—and more fun to drive—than ever before."

Autotrader editors selected the 10 Best Electric Cars based on a range of criteria that included the following: vehicles must be priced under $75,000; the car must have a plug or a way to run on electricity only for fifteen miles or more; and the car must be available for sale to the public within the next six months. Check out the latest selections for 2021, unranked and listed below in alphabetical order:

Autotrader's 10 Best Electric Cars for 2021

2022 Chevrolet Bolt EUV
The redesign of the Chevrolet Bolt brought with it a compelling compact crossover variant. It's mechanically the same as the updated Bolt EV electric car but it has a more rugged, SUV-like appearance and more back seat space, making it a little more family-friendly. The Bolt EUV is the first Chevrolet model available with the excellent Super Cruise semi-autonomous hands-free driving tech.

2021 Ford Mustang Mach-E
Ford's first all-electric crossover SUV is a winner. With an impressive range of up to 300 miles, the latest tech features, and the style and performance to back up its iconic name, the Ford Mustang Mach-E does just about everything well. It also helps that it's functional as a practical, everyday driver with plenty of space for people and cargo. 

2021 Hyundai Kona Electric
The Hyundai Kona is an awesome subcompact crossover no matter what is powering the wheels. The EV variant has a nice range of up to 258 miles, plus 250-kWh of free charging from Electrify America. Unfortunately, it's not available nationwide, but if you live in a state that sells the Kona EV, it's a great choice in affordable electric SUVs.

2021 Hyundai Ioniq Electric
Another compelling electric car in the Hyundai lineup is the all-electric version of the Ioniq. The electric Ioniq has a stellar 133 combined MPGe rating, which makes it more efficient than the Nissan Leaf and Chevy Bolt. That translates to an estimated annual fuel cost of only $500, according to the EPA. However, its range is a bit limited at 170 miles.

2021 Lincoln Aviator Grand Touring
The Lincoln Aviator Grand Touring is a plug-in hybrid midsize luxury SUV. This stylish and upscale three-row crossover has plenty of room to transport the family in a quiet and comfortable sanctuary. It also can be a blast for the driver thanks to its PHEV powertrain, making 494 horsepower and 630 lb-ft of torque. The trade-off is that it sacrifices efficiency for performance, but it does manage an all-electric range of up to 21 miles.

2021 Nissan Leaf
The Nissan Leaf was the original mass-market electric car. Now in its second generation, it's still a strong contender on the more affordable side of EVs. The styling is sleek, the interior is roomy, and the base price is within reach of a wide range of shoppers. The base model has a 150-mile range, but if you upgrade to the Leaf Plus, it achieves up to 226 miles of range.

2021 Toyota RAV4 Prime
Toyota has long been the king of hybrids, and now the Japanese brand has finally come out with a plug-in hybrid version of its most popular SUV. It's well-equipped with standard features including AWD, and it has a good all-electric range of 42 miles.

2021 Volvo XC40 Recharge
Volvo is getting serious about electric cars. Part of this move is the XC40 Recharge, which is an all-electric version of the excellent XC40 subcompact SUV. This Volvo has the safety ratings and features you'd expect from the brand, plus high-quality interior materials and head-turning style. The electric range of 200 miles makes it a practical commuter for many drivers.

2021 Volvo XC60 Recharge
The Volvo XC60 Recharge is the plug-in hybrid variant of the Swedish brand's compact SUV. It benefits from a 57 combined MPGe rating, up to 19 miles of all-electric range, and electric all-wheel drive adding to the SUV's practicality. It also delivers pretty muscular performance, making this crossover both fun and efficient in one stylish and safe package.

2021 Volkswagen ID.4
The Volkswagen ID.4 not only is the brand's first electric SUV, but it's also a showcase of what to expect from future electric cars from the brand. A new design language is on display inside and out, and we like the simplicity of the high-tech interior. We also like the 250-mile range, the generous standard safety tech features, and three years of free charging with Electrify America.

To learn more about the 2021 Best Electric Vehicles list from Autotrader, including photos, detailed vehicle information and available inventory, visit https://www.autotrader.com/best-cars/best-electric-cars.

For more information and news from Autotrader, visit press.autotrader.com, follow us on Twitter at https://twitter.com/Autotrader_com (or @Autotrader_com), Instagram at https://www.instagram.com/autotrader_com/ (or @autotrader_com), like our page on Facebook at https://www.facebook.com/autotrader/, and LinkedIn at https://www.linkedin.com/company/autotrader-com.

About Autotrader
Autotrader is the most recognized third-party car listings brand, with the most engaged audience of in-market car shoppers. As the foremost authority on automotive consumer insights and expert in online and mobile marketing, Autotrader makes the car shopping experience easy and fun for today's empowered car shopper looking to find or sell the perfect new, used or Certified Pre-Owned car. Using technology, shopper insights and local market guidance, Autotrader's comprehensive marketing and retailing solutions allow consumers to build their deal online, and guide dealers to personalized digital marketing strategies that grow brand, drive traffic and connect the online and in-store shopping experience. Autotrader is a Cox Automotive™ brand. Cox Automotive is a subsidiary of Cox Enterprises. For more information, please visit http://press.autotrader.com. 

About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com

1 Cox Automotive 2021 Predictive Study

SOURCE Autotrader

For further information: Nichole Mrasek, 404-568-6352, nichole.mrasek@coxautoinc.com

Solution delivers in-app immersive digital experience to differentiate online inventories directly to where consumers shop for vehicles

OAKBROOK TERRACE, Ill., April 15, 2021 – vAuto announces the incorporation of SnapLot 360, a visually captivating 360-degree spin image capturing application that equips dealerships to take photos and videos of a vehicle’s interior and exterior, creating dynamic listing content for online car buyers. With this dynamic merchandising tool located within vAuto Conquest™ and Provision®, dealerships are driving online engagement and potential sales by delivering a more immersive shopping experience for customers as they increasingly rely on new online shopping tools and services to research and compare vehicles.

According to Cox Automotive’s 2021 Car Buyer Journey Study, 74% of franchise dealers say their customers have used digital retailing tools more since COVID-19—indicating that advanced digital merchandising tools and enhanced visualization will be must-haves for dealerships in the year ahead. To increase consumer satisfaction and help drive profit, dealerships can use SnapLot 360 in vAuto Conquest and Provision, providing a new, easier way to merchandise inventory without any additional inventory management platform. Retailers simply need a smartphone and the SnapLot 360 app and they can capture exterior shots in seconds with a single walkaround, creating a 360-degree shopper-controlled and self-guided tour of the vehicle – all in order to increase the visibility of their inventories by leaps and bounds.

In a 2019 study, 73% of car shoppers who bought or leased a vehicle rated 360 displays as extremely helpful in the shopping process, underscoring the importance of this offering for all dealerships. (Source: HomeNet 360 Consumer Study 2019) SnapLot 360 is the perfect integrated application to provide potential customers with a highly visual and virtual experience that closely mimics the real-life experiences when purchasing a car, including visual aspects and live insights at the click of a button.

“SnapLot 360 gives dealerships a digital edge within vAuto, allowing them to use one system for inventory management and merchandising,” said Nathan Fox, Senior Director of Business Development for vAuto leading all merchandising initiatives. “The dynamic, interactive images of a vehicle’s interior and exterior create the transparency demanded by shoppers as they complete more of the car buying process digitally.”

SnapLot 360 incorporates several innovative features that support a dealership’s goal to create a more immersive shopping experience for customers, including:

• Exterior 360 Capture:  With a quick walk around the vehicle, capture high-resolution, exterior 360 spin images in seconds, using your Android or iOS device.
• Interior 360 Capture: Create compelling interior panoramic views that bring the customer inside the cabin.
• Hot Spot Tagging: Uses stencils that guide dealerships to specific features in the photos and automatically tags them as hot spots providing a more visual and informative vehicle detail page.
• 360 Syndication: Dealerships can take images and syndicate those photos to top car shopping sites and website providers in the industry, including Autotrader and Dealer.com.
• Automatic Photo Extraction and Upload: After capturing the 360 spin images, automatically extract photos and upload them to vAuto Provision or Conquest via wireless, reducing the manual work required by dealers in order to save time and increase efficiency.

“Since using SnapLot 360, we’ve been able to differentiate ourselves from the competitors and engage more customers. It’s simple to use and creates a unique, standout experience for shoppers,” said Robert Velez, Internet Manager, Liberty Auto City. “We’ve seen measurable results with great engagement without adding more work to our plate with SnapLot 360.”

“Matching supply to demand is going to be a big challenge for our industry in 2021. Connecting advanced marketing and merchandising capabilities, like Snaplot 360, directly to the marketplaces where consumers instinctively go to look for vehicles establishes a new level of value for dealerships,” added Paul Whitworth, Senior Vice President Inventory Solutions at Cox Automotive. “This is just one of the many ways we are reimagining the vast array of solutions across Cox Automotive to solve business problems for our clients.”

For more information on vAuto SnapLot 360, visit vAuto.com/snaplot360 For information on all of Cox Automotive's 2021 new offerings, visit www.coxautoinc.com/experience. 

About vAuto  
vAuto® provides innovative technology, tools and business intelligence to thousands of dealerships across the United States and Canada, helping them compete more effectively and increase new/used vehicle sales volumes and profits. Founded in 2005, vAuto revolutionized dealers' used vehicle operations with the groundbreaking Provision® suite of tools. Leveraging The Velocity Method of Management®, pioneered by vAuto founder, Dale Pollak, Provision helped dealers adopt a more transparent- and turn-focused approach to used vehicle acquisition, appraising, pricing and merchandising based on real-time, local market supply-and-demand data. vAuto's solutions also include Conquest, a new vehicle inventory management and pricing system, and Stockwave, which enables dealers to efficiently find and purchase vehicles from leading wholesale sources via a single platform. In 2018, vAuto released the Provision ProfitTime metric and methodology to help dealers maximize inventory turn and gross profit based on the investment value or profit potential of each vehicle. In 2020, the company debuted an all new iRecon solution, integrated with Provision, to help dealers recondition vehicles and get them retail ready faster.  

Headquartered near Chicago, Illinois, vAuto is a Cox Automotive™ brand. 

About Cox Automotive 
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com

Greta Crowley, vice president of marketing for Autotrader

The automotive consumer journey – from browsing options to purchasing a vehicle – has changed drastically. Given this evolution of where and how consumers are shopping, it will be imperative for dealerships to closely evaluate how they are marketing their inventories online. With the right approach, retailers will be in a position to capitalize on these trends in car shopping well into the future, all while garnering a stronger return on their marketing spends.

In order to better understand this shifting landscape, consider a few key insights that Cox Automotive has observed in recent months. According to Cox’s Digitization of End-to-End Retail report, 76% of shoppers are open to the idea of buying completely online. Further, buyer satisfaction has reached a higher level than it has been since 2016 – over 70% of consumers reported being highly satisfied with their overall shopping experience in 2020. Shedding even more light on the past year’s seismic shift on consumer habits, the Cox Automotive Car Buyer Journey Study: Pandemic Edition noted that car buyers are more decisive than they have ever been. The amount of time spent researching and shopping online dropped by more than two hours from 2019 – and the average number of automotive websites that consumers visited also fell during this time.

So, what does this mean for car dealers? It underscores the fact that they have less time to capture the attention of car shoppers – and need to tailor their digital marketing strategies accordingly. Auto dealers’ media buys should therefore align with the desired journey of today’s car buyer.

For retailers, an efficient marketing spend starts with the right platforms. Traditional big data partners may be a main fit for the general marketing community, but dealerships need a more targeted approach to generate quality leads. In fact, the Car Buyer Journey study found that third party sites were the most popular first and last destinations for buyers over OEM sites, Google search, and other locations – indicating they are a must for dealerships to consider when advertising.

Before a dealer’s customers decide where and what they are buying, they’re being influenced by other dealerships. Successful dealers realize that while their CRM is indicative of their strategy’s overall success, it doesn’t provide crucial insight into the consumer’s entire buying journey and purchase process. These dealers know customers are cross-shopping prior to buying. This knowledge allows them to make informed decisions about their marketing presence and prioritize areas where they reach the most customers – the most often.

Autotrader allows dealers to influence the customer’s buying journey at every stage of the buying process – starting at the beginning. Autotrader and KBB.com are the top two third-party sites shoppers visit when they begin their search and are essential for lead generation. In fact, Autotrader led the industry with over 17k total vehicle sales in January 2021 as well as nearly 10% growth in its close rate. Importantly, Autotrader’s average gross profit per lead is $117 – 69% higher per lead than competitors – underscoring the value of generating quality leads and really selling the experience of a dealership.

Additionally, proactive outreach to buyers will better capture their attention during a shortened window of opportunity. Features ecosystem like Personalization and Relevant Search, target in-market shoppers with interactive content and displays that simplifies and advances the whole process. Cox Automotive solutions such as Audience Explorer are in place for dealers to identify shoppers that are interested in their inventory based on their online activity, offering yet another data-driven means of optimizing their marketing efforts.

Ultimately, the fact that satisfaction with dealership experiences was higher during the pandemic than ever before shows that there’s immense potential amid this online shopping environment. Digital retailing has driven higher loyalty and trust over the last year – and that connection can be initiated by retailers through a sound marketing strategy that reflects an intimate understanding of today’s car buying journey.

Subaru Leads Non-Luxury Brand Categories, Tesla Dominates Luxury Brands

IRVINE, Calif., March 30, 2021 - Automotive brands are among the most recognized worldwide, capturing attention as car shoppers consider one of life's biggest purchase decisions. Brands that impress consumers generate greater interest and increased positive perceptions, which ultimately can pave the way for increased sales. Recognizing automakers' outstanding achievements in shaping and maintaining brand attributes that earn the attention and enthusiasm of new-car buyers, Kelley Blue Book today announces the 2021 Brand Image Award winners, based on annual new-car buyer perception data. Award categories are calculated among luxury, non-luxury and truck shoppers.

"Brand perception and purchase consideration are incredibly important factors for automakers to consider as they develop their new products and related marketing communications," said Isabelle Helms, vice president of research and market intelligence for Cox Automotive. "The well-recognized phrase 'perception is reality' frequently rings true in the automotive marketplace. Brands that impress and leave a lasting impression often are the ones to ultimately achieve increased market share. Winners of Kelley Blue Book's Brand Image Awards demonstrate that they are succeeding in capturing the attention of new-car shoppers."

2021 Brand Image Award Winners: Non-Luxury Brands

2021 Brand Image Award Winner: Truck Brand

2021 Brand Image Award Winners:  Luxury Brands

For the second year in a row and the fourth time in the past six years, Subaru wins Best Overall Brand for 2021 among non-luxury automakers. Subaru achieved the highest average score across all ratings of non-luxury models to win the Best Overall Brand. In addition, Subaru takes home specific awards once again this year for Most Trusted Brand and Best Performance Brand. Subaru impressively has captured the minds of car shoppers as the Most Trusted Brand every year since 2015, and this is the second year running that shoppers named Subaru Best Performance Brand. Subaru's wins are based on the automaker's reputation for delivering safe, spacious, capable, and exceptional quality vehicles that satisfy the needs of both everyday consumers as well as those seeking rugged performance at an affordable price point.

After making a notable Brand Image Awards debut last year, Tesla once again dominates among luxury automakers for 2021. Tesla wins Best Overall Luxury Brand for the second year running, achieving the highest average score across all ratings of luxury models to win the award. In addition, Tesla takes home specific awards this year for Best Value Luxury Brand, Most Refined Luxury Brand and Best Performance Luxury Brand. The unique, sleek design of Tesla's all-electric vehicles combined with its innovative technological advancements and alluring interiors contribute to the brand's success in capturing consumer attention, along with its reputation for value in the luxury segment due to the hugely popular Model 3.

Toyota wins Best Overall Truck Brand in 2021 for the third year in a row. Toyota achieved the highest average score across all ratings of truck models and 12 weighted factors of importance. The brand's Tacoma and Tundra trucks were among the Top 10 vehicles overall this year, and their combined average score pushed Toyota to the top over other truck manufacturers. Tacoma has been the best-selling pickup in its segment for the last 16 years and continues to be at the forefront of consideration growth.

Beyond the top overall brands, other automakers gained notable repeat Brand Image Award wins for 2021. Honda wins Best Value Brand among non-luxury automakers for the seventh consecutive year, and Lexus wins Most Trusted Luxury Brand for the sixth consecutive year. Dodge wins Best Car Styling Brand for the third consecutive year, and GMC wins Most Refined Brand for the second consecutive year among non-luxury automakers. In addition, Porsche returns to the Brand Image Awards winner's circle this year for Best Car Styling Luxury Brand, an award it previously won in 2019.

The 2021 Brand Image Awards are based on consumer automotive perception data from Kelley Blue Book's Brand Watch study. Kelley Blue Book's Brand Watch is an online brand and model perception tracking study, which taps into more than 12,000 in-market new-vehicle shoppers annually on KBB.com. The highly comprehensive study offers insights into how shoppers perceive important factors driving their purchase decisions and captures brand/model familiarity and consideration among new-car shoppers. For more information about the 2021 Kelley Blue Book Brand Image Awards, visit https://www.kbb.com/awards/brand-image-awards-best-overall-brand/.

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on LinkedIn at https://www.linkedin.com/company/kelley-blue-book/, Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb  and follow us on Instagram at https://www.instagram.com/kbb_com/ (or @kbb_com).

About Kelley Blue Book (www.kbb.com) 
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book is a Cox Automotive brand. 

About Cox Automotive 
Cox Automotive Inc. makes buying, selling, owning and using cars easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of $21 billion. www.coxautoinc.com

Helping car buyers look beyond a car's outward appearance and focus more on the beauty within

ATLANTA, March 11, 2021 – New-car shoppers don’t have to spend top dollar to buy a car with an impressive interior. Today there are vehicles at nearly every price point that stand out among the crowd due to high-quality interior design and technology offerings. To help everyday consumers who emphasize importance of a vehicle’s interior when shopping for a new car, the experts at Autotrader recently named the 10 Best Car Interiors Under $50,000 for 2021.

“A lot of car shoppers may think you can’t expect a remarkable interior unless you’re buying an expensive luxury vehicle, but that isn’t necessarily the case,” said Tara Trompeter, managing editor for Autotrader. “Many automakers have upped their game when it comes to car interiors across their lineups, whether you’re talking about their entry-level model or their flagship vehicle. While people often talk about a vehicle’s exterior design, the truth is that car buyers spend most of their time inside the vehicle and not just admiring it from the outside, so interior design and function is high priority for most car shoppers.”

Autotrader editors capped the base-model price tag at $50,000 when compiling this list, and several of the vehicles featured come in well below that figure. Shoppers who do a little research will discover you don’t need to spend an arm and a leg to buy a vehicle with a notable interior.

All vehicles on this year’s 10 Best Car Interiors Under $50,000 list are poised to deliver an enjoyable inside-the-car experience for drivers and passengers alike. Check out the latest selections for 2021 (unranked and listed below in alphabetical order):

Autotrader’s 10 Best Car Interiors Under $50,000 for 2021

2021 Buick Envision

A redesign for 2021 has repositioned the Envision to compete with class leaders while undercutting them on price. Step inside the new Envision and you might think you’ve entered a more expensive European luxury crossover. Just a few interior options include perforated leather seating, a dual-pane sunroof and a color head-up display. 

2021 Genesis G80

Not only does the Genesis G80 have a striking exterior, but its interior is spacious, well-crafted and well-appointed. Everything the driver touches has a premium feel to it, and passengers will be comfortable in the roomy seats. One of the G80’s many strong suits is value; you won’t find another midsize sedan starting under $50k from a competing luxury brand with an interior this nice.

2021 Honda Civic

The Honda Civic quite simply is one of the most well-rounded cars money can buy. On top of that, it has a great interior for its price tag, and the upper trims boast impressive interior features while keeping the price affordable. It has plenty of room for both passengers and cargo, and it uses a thoughtful interior design with good ergonomics and nice material quality. 

2021 Hyundai Elantra

Hyundai has been stepping up its game in just about every category including interior quality, with a prime example being the cabin of the Hyundai Elantra compact sedan. The inside of the Elantra is so nice that it puts this Hyundai on more competitive ground. The redesigned 2021 Elantra has more interior space than its predecessor and features an attractive design.

2021 Kia K5

The Kia K5 is an all-new midsize sedan, replacing the outgoing Optima with a price far below $50,000. The inside of the K5 is fantastic, especially in the sporty GT trim. On top of a performance upgrade, the GT model includes unique interior style accents you won’t find in the rest of the lineup like synthetic leather sport seats. The K5 has an interior design that is premium and driver-centric, reminding us of a German sport sedan.

2021 Lincoln Corsair

The interior of the Lincoln Corsair is a quiet, serene sanctuary that is comfortable for everyone inside. It also has sliding and reclining back seats, an uncommon luxury for this segment. This feature not only improves passenger comfort, but it also allows you to customize your interior to optimize passenger space, cargo space or some combination of both.

2021 Mazda3

The Mazda3 impresses in a lot of ways, including its interior. Available as a sedan or a hatchback, the compact Mazda3 has a premium look and feel without a premium price tag. Cabin materials are upscale, especially in the higher trims, and the infotainment system is one of the most intuitive in its class.

2021 Mercedes-Benz GLA 250

The Mercedes-Benz GLA-Class may have lost some of its quirkiness with its 2021 redesign, but the interior got much nicer than its predecessor. The Mercedes-Benz brand has been on a roll with top-notch interior quality in its most recently redesigned models, and we’re happy that streak is continuing with its most affordable crossover.

2021 Nissan Kicks

The smallest SUV in the Nissan lineup got a refresh for the 2021 model year. The Kicks’ new interior is a nice improvement packed with standard features, even on the most affordable base trim, and the cargo space is above average for a subcompact crossover. New standard features include Android Auto and Apple CarPlay, and available tech features include an 8-inch infotainment system, a digital instrument cluster, a Wi-Fi hotspot and more. 

2021 Volkswagen ID.4

The Volkswagen ID.4 is an all-new, all-electric compact crossover that we’ve been patiently waiting for, and now that it has finally arrived, we’re impressed with its smooth and peppy electric drivetrain and its high-tech interior. It’s very tech-focused, centered on a responsive infotainment system that is truly smartphone-like. Most of the controls are touch-sensitive in lieu of traditional buttons and knobs, which is risky, but it works well in this Volkswagen. 

In addition to providing a resource for shoppers to help narrow down their search for the perfect vehicle, the trust and speed of Autotrader’s digital shopping experience makes the process a breeze. Buying a car is now easier and safer than ever with the addition of Autotrader’s Dealer Home Services, which helps shoppers buy and service a car without ever leaving the safety and comfort of their homes.  

To learn more about the 2021 Best Car Interiors Under $50,000 list from Autotrader, including photos, detailed vehicle information and available inventory, visit https://www.autotrader.com/best-cars/best-interiors-under-50000.

For more information and news from Autotrader, visit press.autotrader.com, follow us on Twitter at https://twitter.com/Autotrader_com (or @Autotrader_com), Instagram at https://www.instagram.com/autotrader_com/ (or @autotrader_com), like our page on Facebook at https://www.facebook.com/autotrader/, and LinkedIn at https://www.linkedin.com/company/autotrader-com.

About Autotrader
Autotrader is the most recognized third-party car listings brand, with the most engaged audience of in-market car shoppers. As the foremost authority on automotive consumer insights and expert in online and mobile marketing, Autotrader makes the car shopping experience easy and fun for today's empowered car shopper looking to find or sell the perfect new, used or Certified Pre-Owned car. Using technology, shopper insights and local market guidance, Autotrader's comprehensive marketing and retailing solutions allow consumers to build their deal online, and guide dealers to personalized digital marketing strategies that grow brand, drive traffic and connect the online and in-store shopping experience. Autotrader is a Cox Automotive™ brand. Cox Automotive is a subsidiary of Cox Enterprises. For more information, please visit http://press.autotrader.com. 

About Cox Automotive

Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company’s more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com

###

Media Contact:
Nichole Mrasek               
404-568-6352    

nichole.mrasek@coxautoinc.com

An average 2021 model-year vehicle will only retain about 40% of its original value after a five-year ownership period

IRVINE, Calif., March 2, 2021 – Most new-vehicle shoppers have probably heard the phrase, “a car loses value the moment you drive it off the dealership lot.” Yet the everyday car buyer may not be aware to what extent and how much this amount can vary from model to model. Understanding a car’s resale value - what a vehicle will be worth down the line when going to sell or trade it in - can make the difference of hundreds, if not thousands, of dollars in the long run. To help new-car buyers shop smart, Kelley Blue Book today announces the 2021 model-year brand, category and top 10 winners of the annual Best Resale Value Awards, recognizing vehicles for their projected retained value through the initial five-year ownership period.

“Shoppers who choose to buy a 2021 model from one of our Best Resale Value Brand winners can be very confident that their vehicle will retain its value well over time,” said Eric Ibara, director of residual values for Kelley Blue Book. “For 2021, Toyota and Porsche, respectively, are the best vehicle brand and luxury brand in terms of the highest average projected resale value across their full lineups. Continuing a longstanding trend among the top 10 vehicles, trucks and SUVs dominate once again amidst high demand and relatively low gas prices. And interestingly, with the unprecedented events of the last year, we are seeing a slight increase in the overall average residual value for new vehicles, explained by the significantly reduced car supply as well as the market continuing to shift to SUVs, which tend to have higher resale values.”

This year marks the fifth Best Resale Value: Brand win for Toyota, which previously won the same honors in 2014, 2017, 2018 and 2019. For 2021, Porsche celebrates its fifth consecutive win as Best Resale Value: Luxury Brand.

(Residual values used for award calculations are based on the 2021 model-year vehicles that appear in the January-February 2021 Publication of the Kelley Blue Bookâ Residual Value Guide. Top 10 models appear in alphabetical order.)

Many new-car buyers do not realize that depreciation often is the greatest expense incurred by drivers during the first five years of vehicle ownership. An average 2021 model-year vehicle will only retain about 40% of its original value after a five-year ownership period, meaning that a $35,000 new car today will only be worth somewhere close to $14,000 after five years. In comparison, all vehicles in Kelley Blue Book’s Top 10 for Best Resale Value are projected to retain around 50% or more of their MSRP. This year’s top model, the 2021 Toyota Tundra, is expected to be worth 59% of its MSRP after five years.

Resale value for new vehicles can vary greatly. Vehicles end up with average or below-average resale values because they were produced in greater volumes than the marketplace could support. Vehicles that are projected to retain their value best hold that position because they've managed to generate consumer demand that, for a variety of reasons, is greater than the volume that was produced. A sure sign that a vehicle will likely have strong residual values is that they are typically discounted the least when new and tend to generate high levels of consumer interest. 

Now in its 19th year, Kelley Blue Book’s Best Resale Value Awards 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 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 are excluded from award consideration, except in the electric, luxury and sports car categories.

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. For more information about Kelley Blue Book’s Best Resale Value Awards, visit https://www.kbb.com/best-cars/best-resale-value-cars-trucks-suvs/.

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on LinkedIn at https://www.linkedin.com/company/kelley-blue-book/, Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb  and follow us on Instagram at https://www.instagram.com/kbb_com/ (or @kbb_com).

About Kelley Blue Book (www.kbb.com) 
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book is a Cox Automotive brand. 

About Cox Automotive 
Cox Automotive Inc. makes buying, selling, owning and using cars easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of $21 billion. www.coxautoinc.com

An average 2021 model-year vehicle will only retain about 40% of its original value after a five-year ownership period

IRVINE, Calif., March 2, 2021 – Most new-vehicle shoppers have probably heard the phrase, “a car loses value the moment you drive it off the dealership lot.” Yet the everyday car buyer may not be aware to what extent and how much this amount can vary from model to model. Understanding a car’s resale value - what a vehicle will be worth down the line when going to sell or trade it in - can make the difference of hundreds, if not thousands, of dollars in the long run. To help new-car buyers shop smart, Kelley Blue Book today announces the 2021 model-year brand, category and top 10 winners of the annual Best Resale Value Awards, recognizing vehicles for their projected retained value through the initial five-year ownership period.

“Shoppers who choose to buy a 2021 model from one of our Best Resale Value Brand winners can be very confident that their vehicle will retain its value well over time,” said Eric Ibara, director of residual values for Kelley Blue Book. “For 2021, Toyota and Porsche, respectively, are the best vehicle brand and luxury brand in terms of the highest average projected resale value across their full lineups. Continuing a longstanding trend among the top 10 vehicles, trucks and SUVs dominate once again amidst high demand and relatively low gas prices. And interestingly, with the unprecedented events of the last year, we are seeing a slight increase in the overall average residual value for new vehicles, explained by the significantly reduced car supply as well as the market continuing to shift to SUVs, which tend to have higher resale values.”

This year marks the fifth Best Resale Value: Brand win for Toyota, which previously won the same honors in 2014, 2017, 2018 and 2019. For 2021, Porsche celebrates its fifth consecutive win as Best Resale Value: Luxury Brand.

(Residual values used for award calculations are based on the 2021 model-year vehicles that appear in the January-February 2021 Publication of the Kelley Blue Bookâ Residual Value Guide. Top 10 models appear in alphabetical order.)

Many new-car buyers do not realize that depreciation often is the greatest expense incurred by drivers during the first five years of vehicle ownership. An average 2021 model-year vehicle will only retain about 40% of its original value after a five-year ownership period, meaning that a $35,000 new car today will only be worth somewhere close to $14,000 after five years. In comparison, all vehicles in Kelley Blue Book’s Top 10 for Best Resale Value are projected to retain around 50% or more of their MSRP. This year’s top model, the 2021 Toyota Tundra, is expected to be worth 59% of its MSRP after five years.

Resale value for new vehicles can vary greatly. Vehicles end up with average or below-average resale values because they were produced in greater volumes than the marketplace could support. Vehicles that are projected to retain their value best hold that position because they've managed to generate consumer demand that, for a variety of reasons, is greater than the volume that was produced. A sure sign that a vehicle will likely have strong residual values is that they are typically discounted the least when new and tend to generate high levels of consumer interest. 

Now in its 19th year, Kelley Blue Book’s Best Resale Value Awards 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 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 are excluded from award consideration, except in the electric, luxury and sports car categories.

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. For more information about Kelley Blue Book’s Best Resale Value Awards, visit https://www.kbb.com/best-cars/best-resale-value-cars-trucks-suvs/.

For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on LinkedIn at https://www.linkedin.com/company/kelley-blue-book/, Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb  and follow us on Instagram at https://www.instagram.com/kbb_com/ (or @kbb_com).

About Kelley Blue Book (www.kbb.com) 
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book is a Cox Automotive brand. 

About Cox Automotive 
Cox Automotive Inc. makes buying, selling, owning and using cars easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of $21 billion. www.coxautoinc.com