New Kia Picanto benefits from more ‘European’ styling and quality, says CAP

June 6 2011 – for immediate release

THE ‘EUROPEANISATION’ of Kia’s approach to new and replacement models has paid off with a significantly stronger forecast residual value for the latest incarnation of its Picanto city car, compared to its predecessor.

It means the Picanto 1.0 1 5dr is forecast to retain 46% of its cost new after 3 years, with 30,000 miles on the clock. This compares with 41% for the outgoing version.

Jeff Knight, editor of CAP Monitor, the industry’s independent benchmark used car value forecast guide, says that key to Kia’s improvement is a distinctly more European visual style as well as better build quality and specification.

He said: “As we would expect, every aspect of the Picanto is improved over its predecessor. The car is roomier, reasonably quiet for a car of its type and is an all-round better package.

“But the real key to its success as a future used car will be what we might call the ‘Europeanisation’ of the car’s appearance. Previous incarnations of many cars originating from relatively new far eastern manufacturers have met with consumer resistance because they were challenging on the eye.

“However, Kia – along with its stablemate Hyundai – has brought about a sea change in the design of its cars which aligns them far more with UK tastes.

“We expect the new Picanto to benefit from this, with stronger demand in the future used market than we have seen for the previous version.

“Depreciation is the biggest aspect of motoring costs, so it is good news for buyers in these economy-conscious times that the new Picanto will hold its value well.”

ends

For further information contact Mike Hind, Communications Manager, CAP on 0113 222 2044 / 07710 152030

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CAP used car pricing and technical information has been trusted by motor trade professionals for more than 30 years. The company provides trusted and accurate pricing and technical information on cars, vans, motorcycles and trucks to the UK automotive industry every day. As well as helping dealers, fleet operators, insurers, vehicle manufacturers and finance providers, CAP information also operates at the heart of many leading vehicle marketing websites and car sales portals, including Britain’s largest – AutoTrader – helping consumers safely make the best informed decisions about their purchase choices.

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Telephone: 0113 222 2000 Facsimile: 0113 222 2001 www.cap.co.uk

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