Kia Wins 5th Consecutive J.D. Power Residual Value Awards in the U.S...."Most Models Awarded"

[Asia Economy Reporter Hyunseok Yoo] Kia has proven its product competitiveness based on excellent quality and marketability by receiving high residual value recognition in the United States.

Kia announced on the 22nd that its models were named in five categories in the ‘2023 Residual Value Awards’ announced by the U.S. market research firm J.D. Power, making it the brand with the most model awards.

J.D. Power residual value, one of the most important indicators for U.S. consumers when purchasing vehicles, is calculated as the expected used car price three years after the new car price, comprehensively considering factors such as ▲marketability ▲quality ▲brand awareness ▲sales strategy.

Among 17 general brand categories, Kia’s Telluride was selected as the highest residual value model in the three-row midsize sport utility vehicle (SUV) segment. The Sportage won in the compact SUV category. Additionally, the Soul in the small SUV segment, the K5 in the midsize sedan segment, and the Pride (local name Rio) in the small sedan segment swept all five categories. They surpassed strong competitors such as traditional leaders Honda and Toyota.

This award reflects the market’s high expectations for the residual value of Kia models. Amid the recent expansion of uncertainty in the used car market, it is expected to alleviate concerns about used car prices and act as a major factor in new car purchases.

Eric Lyman, Vice President of J.D. Power, said, “Kia’s report card reflects how much it has grown over time,” adding, “Kia has a very strong product lineup in terms of design, quality, and residual value, becoming a formidable competitor that cannot be ignored.”

A Kia official stated, “Being selected as the brand with the most models awarded for residual value is a result of recognizing Kia’s excellent quality and marketability in the U.S. market,” and added, “We will continuously enhance brand value and meet market expectations with a product lineup that customers can trust and choose.”

Kia previously ranked first overall among 32 brands, including luxury brands, in the ‘2022 Vehicle Dependability Study (VDS)’ announced by J.D. Power earlier this year.