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KBB Awards Hyundai Venue and Elantra for Low Ownership Costs

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Sunny front side view of 2021 Hyundai Elantra
The 2021 Hyundai Elantra
Photo: Hyundai

The Hyundai Elantra and Hyundai Venue are budget-friendly models based on purchase price alone — and they’re less expensive to own, too. As proof, both models topped their segments in the 2021 Kelley Blue Book 5-Year Cost to Own Awards.

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A vehicle’s purchase price is just the beginning. Repairs, gas, insurance, depreciation, and other costs all contribute to the overall cost of ownership. KBB’s annual study carefully examines all these costs for eligible new vehicles, helping consumers gain insights into whether an initially inexpensive vehicle could end up costing them more over time.

In a highly competitive KBB study segment, the Hyundai Elantra took the title of Best Compact Car. According to editors, the Elantra’s under-$20,000 starting price, high resale value, and low repair costs were key factors. Hyundai’s standard 10-year/100,000-mile powertrain warranty contributed, too. The Elantra also won KBB’s praise for its fuel efficiency — up to 43 highway mpg for gas models and up to 54 mpg combined for the hybrid.

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2020 Hyundai Venue parked by water with a large city in the background
The 2021 Hyundai Venue
Photo: Hyundai

Meanwhile, KBB declared the Hyundai Venue its Best Subcompact SUV for the second straight year. A KBB analysis showed that the Venue boasts low ownership costs across the board. In fact, compared to its competitors, it costs nearly $6,900 less to own over five years. The Venue is also efficient for an SUV, achieving 31 combined mpg. Its many standard features — including an 8-inch touch screen, Apple CarPlay and Android Auto, and numerous safety technologies — create high initial value that continues to pay off over time.

“Listening to customer data has allowed us to deliver products that meet consumer needs while also providing superior financial benefit,” Ricky Lao, Hyundai Motor North America’s director of product planning, said in response to the awards won by the Venue and Elantra.

Explore our coverage at The News Wheel to stay up to date on awards, vehicle announcements, and other Hyundai developments.