Frost & Sullivan, a global advisory firm, recently conducted a Total Cost of Ownership Benchmark analysis in the Compact SUV segment in India. Their findings highlight the Kia Sonet’s efficiency in terms of maintenance costs and overall value. The analysis encompassed various factors such as initial acquisition cost, residual value, maintenance, finance and insurance costs, and fuel expenses.
Key Highlights:
Maintenance Cost: Best in Segment for both Petrol and Diesel models.
- Petrol Model: 16% lower than the segment average.
- Diesel Model: 14% lower than the segment average.
Total Cost of Ownership:
- Sonet Diesel: Best in segment with 10% lower than the segment average.
- Sonet Petrol: 4% lower than the segment average, ranking 2nd.
Residual Value: 3% higher than the segment average.
Fuel Cost:
- Sonet Diesel: Best in segment, 6% less than the segment average.
- Sonet Petrol: Among the top 3.
Scheduled Maintenance:
- Sonet Petrol: 7% lower than nearest rival, 25% lower than segment average.
- Sonet Diesel: 17% lower than nearest rival, 24% lower than segment average.
In New Delhi, Frost & Sullivan’s analysis revealed significant findings for the Kia Sonet. The Diesel Model’s maintenance cost is 14% lower than the segment average, while the Petrol Model is 16% lower. The Diesel Model is noted for offering a complete value-for-money package, with a 10% lower total cost of ownership than the segment average. The Petrol variant follows closely, with a 4% lower total cost of ownership. The residual value of both models also stands out, being 3% higher than the segment average.
Scheduled maintenance costs for the Diesel Sonet are 17% lower than its closest rival and 23% lower than the segment average. In comparison, the Petrol Sonet’s maintenance costs are over 7% lower than the nearest rival and 28% lower than other models in the segment. The Diesel variant also boasts the best fuel economy in its segment, being 6% lower than the segment average. However, the Petrol Model’s fuel economy ranks third in its category.
A spokesperson from Frost & Sullivan commented on the comprehensive nature of their analysis, noting that the Kia Sonet emerged as the most economical choice in terms of maintenance costs in the compact SUV segment. Hardeep Singh Brar, National Head Sales & Marketing at Kia India, expressed pride in the Sonet’s recognition for its low cost of ownership.
The analysis by Frost & Sullivan covered various parameters, including vehicle segment, insurance types, motor vehicle tax, finance costs, target customers, annual distance traveled, vehicle prices, and fuel prices as of November 2023. The study also considered the Automotive Research Association of India (ARAI) specified mileage for fuel cost calculations and component replacement periods for service.
Kia Sonet, launched in India in September 2020, has achieved significant sales in both domestic and export markets, with over 3.65 lakh units sold to date. The updated Sonet is set to debut on December 14, 2023.
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