- All-New Sportage CUV base model leads industry for 36-month Residual Value Index - Kia achieved the industry's highest individual rankings
(SEOUL) July 21, 2010 -- Kia Motors' 2011 all-new Sportage compact utility vehicle leads the compact CUV segment for residual value ratings from ALG, the industry benchmark in the US for residual values and a leading provider of data and consulting services to the automotive industry. The notable rating of 61% of original manufacturer's suggested retail price (MSRP) for 36 months of ownership is a full 20 points higher than the current model year residual, and Kia Motors' highest ever rating from ALG. Kia, along with BMW and Subaru, achieved the industry's highest individual rankings with a mark of 66 for the Sportage Base trim.
"Kia Motors' design-led transformation is driving more and more buyers to Kia dealerships for popular new models like Soul, Forte (known as 'Cerato' in some markets), Sorento and soon the new Sportage, as evidenced by our best-ever first half year sales," said Tom Loveless, Vice President, Sales, Kia Motors America (KMA). "The best ALG rating for the Kia brand and for Sportage strengthens the Kia value proposition and consumer confidence by providing higher resale value and great leasing options that benefit the buyer."
Unveiled globally at the Geneva International Motor Show earlier this year, the all-new Kia Sportage adds world-class design and cutting-edge technologies to an already successful value-packed CUV equation. A sleek, modern and bold style with new proportions and a completely new look for the venerable Sportage help elevate the Kia brand further as a world design leader and true tier-one automotive nameplate.
New to this model year, Sportage offers more power (176 hp) and improved fuel economy along with the options of a panoramic sunroof, push-button start, rear camera display, navigation, LED daytime running lights and an air-cooled driver's seat (a compact CUV segment first). In the US, the UVO powered by Microsoft in-vehicle communication and entertainment system based on the Windows Embedded Automotive platform will also be available in late 2010.
Kia Motors is in the midst of a dramatic, design-led transformation, which has been delivering dynamically styled vehicles in several important segments at exactly the right time, contributing to the brand's continued gains in global market share. With five new and upgraded vehicle introductions and several other key initiatives planned for 2010, Kia is poised to continue its momentum and build the brand through design innovation, quality, value, safety features and new technology.
### Editor's Note: Specs, standard and optional features may vary depending on region.
About ALG (www.alg.com) Based in Santa Barbara, California, ALG is the industry benchmark for residual values and a leading provider of data and consulting services to the automotive industry. ALG publishes the "Automotive Lease Guide" -- the standard for Residual Value projections in North America, and has been forecasting automotive residual values for over 40 years in both the U.S. and Canadian markets. ALG is a company of Dealer Track Holdings, Inc. (Nasdaq:TRAK).
About Kia Motors Corporation Kia Motors Corporation (www.kia.com) -- a maker of quality vehicles for the young-at-heart -- was founded in 1944 and is Korea's oldest manufacturer of motor vehicles. As part of the Hyundai-Kia Automotive Group, Kia aims to become one of the world's premier automotive brands. Over 1.5 million vehicles a year are produced in 13 manufacturing and assembly operations in eight countries which are then sold and serviced through a network of distributors and dealers covering 172 countries. Kia today has over 42,000 employees worldwide and annual revenues of over US$14.6 billion. It is the major sponsor of the Australian Open and an official automotive partner of FIFA -- the governing body of the FIFA World Cup(tm). Kia Motors Corporation's brand slogan -- "The Power to Surprise" -- represents the company's global commitment to surpassing customer expectations through continuous automotive innovation.