Kia Motors America was named the 'Most Improved Mainstream Brand' in the Residual Value Awards. The carmaker was recognized in the latest ALG Industry Report, which provides a deeper understanding of the current economic and industry events affecting car residual values. This shouldn’t come as a surprise though since Kia has had a record year in 2010.
It reached numerous milestones, including a new full-year sales record of 56,268 units, a 16th consecutive year of market share growth and the launch of its first ever American-built SUV, the Sorento.
Michael Sprague, vice president, communications & marketing, KMA, said that seven new models were presented in the last two years.
He claims that in this “aggressive launch cycle,” the company has kept its commitment to offer “stylish and fun-to-drive vehicles with the technology, convenience and safety features consumers desire.”
He added that the award from ALG is a reflection of the continued rise in consumer awareness and confidence in the Kia brand. He added that improvements in quality ratings, good residual value and Kia’s sales strategy resulted to an increase in consumer confidence in the Kia cars.
ALG said that the new Sportage compact SUV is one of the main factors since it provides a strong residual value of 62% after 36 months of ownership.
On the other hand, the 2011 Optima offers a residual value of 52%, a climb of 19 percentage points from the 2010 Optima and better than the 2011 Chevrolet Malibu.