Sales figures don’t lie. The Kia Sorento has been a runaway hit for the brand ever since Kia launched the compact crossover in January 2010. That’s 16 months and counting as Kia’s best-selling model with total sales of 148,031 (through April).
It’s about to get even better for Sorento.
Now, with an ALG rating of 58 percent of original manufacturer’s suggested retail price (MSRP) for 36 months of ownership, the 2012 Sorento is a full 10 points higher in residual value rating than the 2011 model. Note that the 2011 Kia Sorento is pictured here. Kia hasn't yet released images of the 2012 model.
Why the strong bump in residual value? ALG says it’s due to a number of reasons, including the fact that the new generation 2011 Kia Sorento was launched in early 2010 with the right combination of “generous” content and low pricing. Eric Lyman, ALG director of Residual Value Solutions says “demand has clearly outpaced initial expectations for the Sorento. While overall incentive spending and fleet sales are down, retail sales have shown significant growth, spurred on by robust consumer demand.”
What the higher residual value means for consumers
In a time when gas prices are all over the place and money is tight, consumers looking for maximum value with minimum investment may be able to capitalize on the higher residual value of the 2012 Kia Sorento.
Why? You get more for less, for one thing. The base 2012 Kia Sorento carries a starting price of $21,250 and has standard air conditioning, power windows/locks/mirrors, Sirius-XM Satellite Radio capability (with three months free subscription to the service), and Bluetooth wireless technology and MP3 connectivity.
Other reasons to consider Sorento include the CUV’s class-leading horsepower (191 horsepower) and fuel economy, available all-new 2.4-liter gasoline direct injection (GDI) engine, Kia’s new UVO powered by Microsoft hands-free infotainment and communications system and new-for-2012 power-folding mirrors, ventilated driver’s seat, heated and wood trim steering wheel, and memory seat/power passenger seat.
Tom Loveless, vice president of sales for Kia Motors America, says the higher residual value rating from ALG means “buyers can benefit from higher resale values and excellent leasing options.”
Other Kia Sorento plusses
Named a 2011 Top Safety Pick by the Insurance Institute for Highway Safety (IIHS), Kia Sorento also earned a four-star overall rating from the National Highway Traffic Safety Administration (NHTSA) in the agency’s more stringent 2011 testing.
Size-wise, the Sorento is actually between a compact and mid-size crossover, and features seating for up to seven. With all rows down, there’s 72.5 cubic feet of cargo room. That makes the Sorento a good consideration for a versatile family car.
The Sorento is also built here in the United States at the company’s West Point, Georgia plant.
[Kia via PR Newswire]