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Chattanooga-built Passat wins ‘cost to own’ award and more business news

Contributed photo by Volkswagen of America / The newly remodeled Volkswagen Passat will go on sale later this year. The mid-size sedan is assembled at Chattanooga's VW plant.
Contributed photo by Volkswagen of America / The newly remodeled Volkswagen Passat will go on sale later this year. The mid-size sedan is assembled at Chattanooga's VW plant. Contributed photo by Volkswagen of America / The newly remodeled Volkswagen Passat will go on sale later this year. The mid-size sedan is assembled at Chattanooga's VW plant.

By Staff and wire reports 4 min read

Chattanooga-built Passat wins ‘cost to own’ award

The 2021 Passat sedan, which is built in Chattanooga, has won Kelley Blue Book’s “5-Year Cost to Own Award” in the midsize car segment, according to Volkswagen of America.

The awards recognize new vehicles with Kelley Blue Book’s lowest projected ownership costs over the initial five-year period.

“Passat has long been a stalwart in the Volkswagen stable, providing midsize sedan buyers a great combination of comfort, amenities and VW-signature driving dynamics,” said Scott Keogh, president and CEO of Volkswagen of America. “This award shows Passat is also a terrific value.”

Eric Ibara, director of residual values for Kelley Blue Book, said the choosing a car with low ownership costs can help shoppers save a significant amount of money over time – often several hundred and sometimes thousands of dollars.