It is important to note that a low sticker price or even low ownership costs do not necessarily make a vehicle a good value
CHICAGO (PRWEB) February 6, 2008
In a year that saw several new nameplates join the list, only five brands won multiple awards: Toyota (9), Chevrolet (8), Lexus (4), Honda (3) and MINI (2). For the third consecutive year, IntelliChoice.com named the Toyota Prius the Best Overall Car Under $24,000, and, in a surprise, the Chevrolet Corvette Convertible the Best Overall Car Over $24,000. GM and Toyota also split the overall truck winners, with the Chevy Silverado taking home Best Truck Value Over $27,000, and the Toyota Tacoma Best Overall Truck Under $27,000. (The complete list of winners is on page three below.)
2008 marks the second consecutive year that Toyota and GM have vied for the highest total number of IntelliChoice.com's Best Overall Values of the Year.
"There is a diverse mix of automakers among the car winners," said James Bell, publisher and editor of IntelliChoice.com. "But Toyota and GM account for more than half the total list of winners. Toyota is a perennial leader in quality and value, but these findings also speak to the tremendous strides that GM has made in recent years in delivering desirable, durable, and high-value vehicles."
"The BOVY Awards are an important guide at a time when consumers are tightening their belts," said Bell. "They tell us which cars, trucks and Crossover/SUVs deliver the most bang for the buck. With indicators pointing to a tough 2008, it is vital that buyers do their homework and determine the vehicles that fit their budget."
Now in its 22nd year, IntelliChoice.com's "Best Overall Value of the Year" awards recognize vehicles whose cost of ownership is significantly lower than expected compared to competitive models in the same class. The awards provide a quick reference to finding vehicles that promise the best return on investment. A listing of this year's winners and additional information on the awards can be found online at http://www.IntelliChoice.com.
2008 Overall Winners
This year, IntelliChoice.com identified thirty-three winning models by segment and class, plus eight overall category winners. The eight overall category winners are:
-- Best Car Value Under $24,000 - Toyota Prius
-- Best Car Value Over $24,000 - Chevrolet Corvette Convertible
-- Best Crossover/SUV Value Under $28,000 - Honda Pilot
-- Best Crossover/SUV Value Over $28,000 - Lexus RX 350
-- Best Truck Value Under $27,000 - Toyota Tacoma Regular Cab 2WD
-- Best Truck Value Over $27,000 - Chevrolet Silverado 1500 Extended Cab 4WD
-- Best Van Value Under $25,000 - Toyota Sienna
-- Best Van Value Over $25,000 - Chevrolet Express 1500
Rather than focusing solely on sticker price, IntelliChoice.com uses multiple criteria such as depreciation/retained value, maintenance and repair costs, fuel costs, insurance and state fees to analyze the value of every vehicle. Against these criteria, buyers can expect a lower cost of ownership for BOVY winners in relation to what they would expect a vehicle in its class to cost. In other words, as a vehicle's price rises, costs would be expected to rise along with it. Not so for IntelliChoice.com's Best Overall Values of the Year.
"It is important to note that a low sticker price or even low ownership costs do not necessarily make a vehicle a good value," said Bell. "IntelliChoice.com's Best Overall Value of the Year awards recognize those vehicles whose total cost of ownership is significantly lower than expected compared to its peers. These vehicles are not just excellent values, but the top-ranked models in their respective classes."
How IntelliChoice.com Determines "Best Overall Value"
2008 marks IntelliChoice.com's twenty-second year publishing ownership cost and value analysis. For the Best Overall Value of the Year (BOVY) awards, IntelliChoice.com analyzes nearly 2000 models to identify the vehicles that promise the best return on investment within their respective classes. IntelliChoice.com aggregates and analyzes data from auto manufacturers, the U.S. government, and third-party data resources to determine the actual costs of ownership of new vehicles over a five-year period, and assigns a value rating to all mainstream vehicles sold in America each year. This insightful value rating factors the accumulated ownership costs of depreciation, maintenance, repairs, fuel, fees, financing, and insurance to identify the true standout models in each class.
IntelliChoice.com, part of SOURCE INTERLINK MEDIA, is the market leader in automotive ownership cost and value analysis. Founded in 1986, IntelliChoice.com is committed to empowering consumers to make better purchase decisions by providing independent and essential automotive information and tools. Through the IntelliChoice.com Web site (http://www.intellichoice.com), consumers get the help they need to research, compare, configure and price vehicles. The site also connects buyers to the buying alternatives of their choice, including vehicle manufacturers and an online car buying guide. SOURCE INTERLINK MEDIA is a division of Source Interlink Companies, Inc., (NASDAQ: SORC), a media and marketing services company. Source Interlink (http://www.sourceinterlink.com) is one of the largest publishers of magazines and online content for enthusiast audiences and a leading distributor of home entertainment products, including DVDs, music CDs, magazines, games, books and related items.
-- Subcompact Class - MINI Cooper Hatchback
-- Compact Class under $17,000 - Honda Civic Sedan
-- Compact Class over $17,000 - Honda Civic Hybrid
-- Midsize Class under $21,000 - Toyota Prius
-- Midsize Class over $21,000 - Toyota Prius
-- Large Class - Toyota Avalon
-- Near Luxury Class - Lexus ES
-- Luxury Class - Infiniti M35
-- Luxury Convertible - Audi A4 Convertible
-- Convertible - MINI Cooper Convertible
-- Small Wagon Class - Scion xB
-- Midsize/Large Wagon Class - Subaru Outback Wagon
-- Base Sport Class - Volkswagen R32
-- Sport Class - Chevrolet Corvette Convertible
-- Sports Sedan/Wagon under $38,000 - Mazda Mazdaspeed3
-- Sports Sedan/Wagon over $38,000 - Lexus GS
-- Compact Utility/Crossover - Ford Escape Hybrid
-- Intermediate Utility Class - Toyota 4Runner
-- Luxury Utility Class - Lexus GX
-- Utility Class - Toyota Land Cruiser
-- Midsize Crossover Class - Honda Pilot
-- Luxury Crossover Class - Lexus RX 350
-- Compact Pickup Class 2WD - Toyota Tacoma Regular Cab 2WD
-- Compact Pickup Class 4WD - Toyota Tacoma Regular Cab 4WD
-- Full-Size Pickup Class 1/2 Ton 2WD - Toyota Tundra Regular Cab 2WD
-- Full-Size Pickup Class 1/2 Ton 4WD - Chevrolet Silverado 1500 Extended Cab 4WD
-- Full-Size Pickup Class 3/4 Ton 2WD - Chevrolet Silverado 2500 HD ExtendedCab 2WD
-- Full-Size Pickup Class 3/4 Ton 4WD - Chevrolet Silverado 2500 HD Extended Cab 4WD
-- Full-Size Pickup Class One Ton 2WD - Chevrolet Silverado 3500 HD Crew Cab 2WD
-- Full-Size Pickup Class One Ton 4WD - Chevrolet Silverado 3500 HD Crew Cab 4WD
-- Minivan Class - Toyota Sienna
-- Full-Size Van Class - Chevrolet Express 1500
-- Cargo Van Class - Chevrolet Uplander