Toyota wins awards celebrating its model's overall value

March 11, 2011 11:24 AM has released the results from its Best Overall Value of the Year (BOVY) awards, reports MSN Autos.

According to the news source, the honors are decided upon by determining the "lowest cost of ownership over a five-year period in 21 classes defined by size, body style and price. Vehicles are judged based on retail price as well as accumulated ownership costs of depreciation, maintenance, repairs, fuel, fees, financing and insurance."

The big winner for 2011 was Toyota, which received 11 BOVYs. When taking the luxury brand Lexus into account, Toyota got seven.

Prius won the award for the best passenger-car and the Avalon for premium passenger-car. Toyota's Rav-4 four-cylinder took first place in the compact/crossover/wagon class while the Sienna garnered top honors for the minivan category.

The best SUV went to the 4Runner, while the Tacoma took home the best compact pickup award and the Tundra won in the full-size truck group.

Resale values were the main reason for the heavy volume of BOVYs going to Toyota, but the Prius' low fuel economy and cheaper average insurance premiums also factored in.

Volvo, MINI and GM each took home two awards, while Infiniti, Subaru, Audi and Honda each got one.

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