Unlike previous years when there have been as many as 46 winners, this year’s BOVYs were distilled to highlight a collection of 21 class winners, honing in on specific buyer market segments. The vehicles in each category represent best values and illustrate the results of a careful and practical analysis of ownership costs, including: depreciation, maintenance, repairs, fuel, fees, financing and insurance.
“As the economy slowly builds back up, consumers are getting ready to re-enter the buyer’s market, but they are concerned of what’s going to give them the most value for the longest period of time. That’s where we come in with a mission that has remained the same for the last 25 years; we empower consumers to make better purchase decisions, by providing independent and essential automotive information and tools,” said IntelliChoice Executive Editor, Charlie Vogelheim. “The BOVY’s are another tool that help consumers recognize cars and trucks whose total cost of ownership is significantly lower than expected compared to their peers. In essence, the awards provide a quick reference to highlight vehicles that promise the best value over duration of ownership.”
While this year’s awards reflected a diverse group of winners across a range of price points and manufacturers, it was Asian manufacturers that continued to show the strongest best overall value, with Toyota accumulating seven wins of the 21 total categories, once again making it the highest award winner. Lexus accounted for another four category wins, including Premium Passenger Car, Premium Full-Size SUV, Premium Convertible and Premium Crossover/Wagon.
Certain cars and trucks made repeat appearances on IntelliChoice’s Best Overall Values ranking. Not surprisingly, were wins from Chevrolet Corvette and MINI Cooper Convertible; both were awarded honors for their class leading value retention and lower cost to insure.
“The most important thing about choosing a car wisely is knowing that it’s not just about the lowest sticker price,” said Vogelheim. “In fact, the purchase price is just the first cost; there are many other factors to consider when gauging overall cost.”
Throughout the year, IntelliChoice aggregates and analyzes data on nearly 1800 vehicle models to determine its Best Overall Values. Data gleaned from auto manufacturers, the U.S. government, and third-party data resources is used to determine the actual costs of ownership for new vehicles over a five-year period. After determining ownership costs, IntelliChoice assigns a value rating to each vehicle and compares that rating relative to their peer models to determine a Best Overall Value in vehicle class.
