Soul tops the subcompact utility segment in 14th annual awards by ALG
AnchorKia’s affordable halo car praised for its premium feel and value
Kia Motors America’s (KMA) fun and funky urban hatchback, the all-new 2014 Soul, has received a Residual Value Award from ALG, a leading provider of data and consulting services to the automotive industry. The 2014 Soul is expected to retain 57 per cent of its value after three years of ownership according to ALG’s November-December edition, surpassing the industry and segment average residual. Each year ALG recognizes vehicles that are predicted to best retain their value in their class, and Soul earned top honours in the subcompact utility segment with its premium feel and competitive pricing.
“Kia vehicles are well known for their value, and the Soul’s mix of personality, utility and affordability has made it a huge hit,” said Michael Sprague, executive vice-president, marketing & communications, KMA. “Adding the ALG Residual Value Award to the Soul’s trophy case is a testament to the vehicle’s quality and appeal that stands up over time.”
ALG determines Residual Value Award winners based on a variety of factors including careful analysis of the automotive industry, the vehicle’s performance, quality and the overall price. With its iconic design, the all-new 2014 Soul offers markedly improved ride and handling, significantly reduced NVH, a suite of standard features and options – and now – the Soul is forecasted to retain its value better than any other vehicle in its class.
“The redesigned Kia Soul offers the economy of a small hatchback with increased utility and premium feel for the price,” said Eric Lyman, vice-president of editorial for ALG. “Kia is a brand on the rise, and the Soul combines personality and value to deliver a product poised to retain its value over time.”
Based on ALG’s residual value forecast for the 2014 model year.
Alyson MacDonald, Press & Public Relations Executive, Kia Motors AustraliaP: 02-9701-1768
Founded in 1944 as Kyungsung Precision Industry, Kia is currently Korea’s second largest car manufacturer and it’s oldest. From the company’s production of Korea’s first domestic bicycle, Kia moved on to producing Korea’s first motorcycle and the country’s first truck. Kia then became the first company in Korea to locally produce petrol car engines and the first domestic diesel engine. In 1979, Kia’s quality car production was recognised by the fact that two of the world’s leading European car makers chose the Korean car maker to build their ‘range topper’ models on their behalf – the Peugeot 604 and Fiat 132. But it was in the 1980s that Kia’s growth really took off. In 1986 Ford joined the list of car makers who looked to Kia to produce cars to be sold under their name, with the Festiva joining Ford’s line up first in the USA, then across the world, including in Australia for where Kia produced two generations of Ford’s entry-level car. Today, Kia produces a remarkably diverse range of vehicles sold in 190 countries around the world.