Looking to expand its current model lineup, dealers have confirmed that the production Scion iQ will begin selling in the fall of 2010. The vice president of the division, Jack Hollis, says that he’s fighting for the car, but dealers say it’s a done deal.

“Jack told us it’s coming next September or October,”  a large Toyota dealer told AutoWeek.

The Scion iQ, which is based on Toyota’s iQ 3+1 car, will be lengthened by an inch and a half and will receive other minimal changes to meet U.S. standards

Power will most likely come from a 1.3L 4-cylinder VVT-i making 93-hp with a peak torque of 89 lb-ft.

Click through for the high-res image gallery.

Scion iQ Concept:

- By: Kap Shah

Source: AutoWeek

Reported earlier this morning, the head of Toyota’s North American operations Yoshimi Inaba, said that the automaker  is targeting a return to profitability in the region as soon as the next fiscal year, ending March 2011. While cutting costs and reducing inventory will play a huge part in getting that goal completed, Inaba admits that spicing up its vehicle lineup is another thing Toyota must focus on to increase market share in the United States.

Sent back to the U.S. to take care of North America by Toyota’s global chief Akio Toyoda, Inaba says that his new boss is “even more of a car enthusiast” than he is. He said Toyoda is hoping to fire up the passion for the Japanese automaker’s lineup.

“I’ll be careful to choose my words,” Inaba told reporters, “but I can see standing on the sidelines that there is not enough excitement in our vehicles.”

Inaba pointed to models such as the FJ Cruiser, a vehicle he helped develop. He said that the FJ Cruiser was very popular on the roads of countries where Toyota didn’t officially sell them because costumers absolutely had to have them.

Inaba said that he will focus on spicing up the Scion lineup and reshaping Lexus’. He said he vows to “revive the Scion spirit” and hopes to “figure out what is Lexus here in the U.S. … and what is the next phase of Lexus.”

- By: Stephen Calogera

Source: AutoObserver

Chief engineer Hiroki Nakajima says the Toyota iQ is central to Toyota’s global carbon dioxide reduction strategy. Toyota first gave us a hint for a U.S. based iQ with the Scion iQ concept that made its debut at the 2009 New York Auto Show in April. According to Motor Trend, you can expect to see the Scion iQ on the roads by early 2011.

Based on the Toyota iQ 3+1 city car, the North American version will be lengthened by an inch and a half and will receive other minimal changes to meet U.S. standards.

The Scion iQ concept is powered by a 1.3L 4-cylinder VVT-i making 93-hp with a peak torque of 89 lb-ft.

For those of you hoping for a hybrid model – don’t get ahead of yourself. Nakajima says that fitting a hybrid system into a car as small as the iQ would prove to be significantly difficult and costly. Nonetheless, Toyota has confirmed that its iQ based FT-EV concept will make it into production by 2012. No word on whether the battery-electric-vehicle (BEV) version of the iQ will come to the United States.

Scion iQ Concept:

- By: Omar Rana

Source: Motor Trend

Scion is all about offering limited-production variants of its vehicle lineup. Today the Toyota-owned company announced its final limited-production vehicle for 2009 – the 2009 Scion xD Release Series 2.0 (xD RS 2.0). The model will go on sale later this month with prices starting at $1,270 over the base price of the xD.

Scion will make only 1,600 units of the xD RS 2.0. Buyers can opt to choose the package on the xD with manual transmission which sells for $14,650 or the xD with an automatic transmission which sells for $15,450. The Electric Wasabi spoiler goes for an additional $285 not including installation.

Make the jump to learn about all the modifications on the 2009 xD RS 2.0 along with the high-res images.

2009 xD Release Series 2.0 (xD RS 2.0):

Press Release:

Scion Announces Pricing for xD Release Series 2.0 – Final Limited Edition for 2009

TORRANCE, Calif., June 10, 2009 — Scion announced today that its final limited-production vehicle for 2009, the xD Release Series 2.0 (xD RS 2.0), will be available at dealer showrooms later this month.

The 2009 xD Release Series 2.0 comes exclusively in Electric Wasabi green exterior paint and is also distinguished with unique interior modifications. The xD features a touch screen Pioneer Audio Visual Navigation (AVN) head unit with flash memory, voice recognition, and Bluetooth®. For media player flexibility, the AVN unit comes with USB, SD card, and iPod® connectivity. The Pioneer AVN head unit is also satellite radio, rear view camera and HD Radio® ready and will play iPod videos when the parking brake is engaged. In addition, users can select from over 32,000 colors to customize the 5.8-inch high-resolution WVGA LCD touch-panel display. The driver can plan the perfect roadtrip at home by downloading the freeware application AVIC Feeds to a computer, making a personalized destination directory and then transferring the data to the headunit using SD card or USB memory device.

Electric Wasabi accents the xD’s interior with four-in-one interior lights, and “Release Series 2.0″ door sills illuminated with white back lighting. Silver accented seat fabric and individually numbered badging add to the vehicle’s uniqueness.

Release Series wheel covers also distinguish this limited production xD. A color-keyed rear spoiler will be available as an option.

Scion will only build 1,600 units of the xD RS 2.0. The xD RS 2.0 model will carry a manufacturer’s suggested retail price (MSRP) of $1,270 over the base price of the xD. The base MSRP for the standard xD with a manual transmission is $14,650, while the standard xD with an automatic transmission model carries a MSRP of $15,450. The available Electric Wasabi spoiler has a MSRP of $285, not including installation.

The delivery, processing and handling (DPH) fee for all Scion models is $670 and is not included in the MSRP. DPH fee for vehicles distributed by Southeast Toyota (SET) and Gulf States Toyota (GST) may vary.

- By: Mo Eladawy

Not many were impressed with Scion’s iQ Concept at the 2009 New York Auto Show. The concept is obviously based on the Toyota iQ with the lime-green body work provided by Five Axis of California. We would have much rather seen a production, normal-looking Scion iQ but we’re guessing Scion was trying to demonstrate its customization capabilities. 

We’re not sure when the iQ will be coming to the U.S. (we’re guessing sometime next year) but we do know that it will be sold under the Scion badge.

Refresher: Power comes from a 1.3L 4-cylinder VVT-i making 93-hp with a peak torque of 89 lb-ft.

Follow the jump for the video.

2009 New York: Scion iQ Concept:

Scion iQ Concept in Action:

Scion iQ Concept:

- By: The Daily Auto Editor

It is here and it is scary – looking. Scion has taken the wraps off of its iQ concept giving us the biggest hint that Toyota’s globally successful minicar will come to the U.S. badged as a Scion. The best part is that Scion is pitching the vehicle as its very own creation and not as a rebadged Toyota iQ.

“Scion’s iQ concept turns traditional auto design upside down,” said Jack Hollis, Scion vice president. “Traditionally small vehicles have been thought of as being basic. The iQ concept is just the opposite with its innovative features and iconic urban design, and we believe it fits in well within the Scion brand. Our young, trendsetting buyers are creative and innovative forward thinkers, and we think they will appreciate what iQ has to offer.”

Power comes from a 1.3L 4-cylinder VVT-i making 93-hp with a peak torque of 89 lb-ft. Honestly , we can’t talk anymore about this green thing anymore.

Read more in the press release after the jump if you’re really interested.

2009 New York: Scion iQ Concept:

Scion iQ Concept:

Press Release:

Scion Reveals iQ Concept at the 2009 New York International Auto Show

NEW YORK, April 8, 2009 — At the New York Auto Show today, Scion unveiled a special concept version of the iQ micro-subcompact car designed to meet the transportation needs of young urban trendsetters.

Scion’s iQ concept is a new urban vehicle with a revolutionary package that is just over 10 feet in length and accommodates three plus luggage. As more and more urban centers are revitalized with a new sense of purpose, energy, and creativity, young people are moving in from the suburbs to embrace new urbanism and are looking for a car that suits their needs and delivers high emotional value.

Scion’s iQ concept is the intelligent answer to this need for highly emotional and efficient urban transportation. The convenience of having work, entertainment and culture nearby for young city-dwellers is a significant draw to urban centers. The vehicle must be able to navigate narrow, congested streets, park in tight places, have impressive fuel economy, and have compelling design and function.

“Scion’s iQ concept turns traditional auto design upside down,” said Jack Hollis, Scion vice president. “Traditionally small vehicles have been thought of as being basic. The iQ concept is just the opposite with its innovative features and iconic urban design, and we believe it fits in well within the Scion brand. Our young, trendsetting buyers are creative and innovative forward thinkers, and we think they will appreciate what iQ has to offer.”

The production iQ is currently sold in Japan and Europe. Five Axis of Huntington Beach, Calif. took the iQ to the next level with aggressive exterior and interior modifications that show the vehicle’s potential for personalization.

With its 78.7-inch wheelbase, the three-door hatchback can deftly maneuver through city traffic. At the same time, its overall length of 126.9-inches, overall width of 71.4-inches, and short front and rear overhangs allow the iQ to fit in virtually any city parking space. The front-mounted differential and repositioned steering rack decrease front end length. In addition, the iQ is equipped with a flat gas tank housed beneath the floor that reduces rear overhang.

Pushing the wheels of the small, bold concept towards the four corners of the body gives the iQ a confident stance. The custom 18-inch wheels with a nickel finish and wide tires fill the wheel well, adding to its surefootedness. The iQ’s custom front air dam, aero headlamps and high-intensity LED driving lamps signal urban road readiness.

“We believe the Scion iQ micro-subcompact concept is the future of transportation,” said Hollis. “If it should join our future line-up, I think it could reach iconic status like our xB. Its styling will attract attention and if it’s a Scion, you know it’ll be easy to personalize.”

The iQ’s profile is defined by a strong and high beltline. Smooth lines glide from the large, dark finish headlamps, up the A-pillar, across the roof and wrap around the rear emphasizing the concept’s geometric beauty. Side mirrors with integrated turn signals accent the clean design.

The rear emphasizes the vehicle’s modern style. Trapezoidal lines run toward the wheels, from the hatch to the thick rear diffuser, creating a substantial presence. A center-mounted trapezoid exhaust adds to the vehicle’s distinctiveness, while large, matte-finished rear taillights help keep the vehicle visible.

The iQ’s interior fuses function, style and entertainment. Attention to detail and modern accents can be seen in the illuminated door handle; the swiveling spotlight that hovers over the dash; an illuminated iQ logo on the passenger-side dash and nickel and raw aluminum toned interior panels. Iridescent green and gray honeycomb upholstery covering the door panels and seating areas, combined with the custom exterior paint, provides a balance of freshness and sophistication. Black matte scuba-like polyurethane covers the seat bolsters and is also used on the headliner with a bright green topstitch for a contemporary finish.

The iQ features a 10-inch panel LCD screen on top of the center cluster that serves as the main entertainment console and navigation system interface. With the push of a button, the touch-screen articulates to reveal the entertainment hub. The touch screen can also play movies while the vehicle is parked. When not in use, the screen lays flat on the dash with a translucent cover that emits a colorful display of light patterns to make the interior even more unique.

A few quick strokes to the black panel below the entertainment hub, or steering wheel controls, command the audio system to shuffle through a music library. The center cluster also features three control knobs for dual front heating and air conditioning settings. The driver and front passenger each have a knob that displays their desired temperature and controls their temperature and fan settings. The center knob dictates zone control for both occupants.

The instrument panel has a speedometer, warning lamps, and a multi-information display. The multi-information display allows the driver to toggle through the odometer, average speed, temperature and eco lamp. The eco lamp illuminates during efficient driving to help the driver achieve maximum fuel economy.

Comfortable front passenger legroom was achieved with a newly-engineered, compact air conditioning unit located behind the center of the front console. The iQ employs a glove bag, with the same textured, honeycomb fabric as the front and rear seats, that can be easily snapped on and off for storage or additional legroom.

Rear seating can accommodate one adult behind the front passenger and a child, small package, or pet behind the driver. Extra slim front seat backs provide rear passengers with legroom. The rear seats are 50/50 and fold flat for increased utility. In addition, the rear seat cushion lifts up to reveal a small flat storage space that can be used for pocket-sized portable music players, small books, digital cameras, or slim laptops.

The iQ does not skimp on safety and is equipped with Vehicle Stability Control (VSC); an anti-lock brake system (ABS) with Electronic Brake force Distribution (EBD); Brake Assist (BA); and nine SRS airbags, which includes the world’s first rear window curtain airbag. Other airbags include driver and front passenger front airbags; driver and front passenger seat-mounted side airbags; side curtain airbags; a driver knee airbag; and a front passenger seat cushion airbag.

- By: Kap Shah

We don’t know what to believe anymore since it’s April 1st, but the folks over at AutoWeek have just posted a spy shot of what they say is a Scion based Toyota iQ set to debut at the 2009 New York Auto Show next week.

AutoWeek says that the Scion iQ is identical to the Toyota version in every way.

The Scion iQ will make its debut in concept form next week with a production model headed to U.S. dealerships in the near future.

Head over to AutoWeek to see the full picture.

- By: Kap Shah

Scion announced today that it will unveil a micro-subcompact concept car at the 2009 New York Auto Show next week that will reflect a “youthful image and represents a new segment for the brand aimed toward the growing urbanization trend.”

The car is expected to be badged as the tD and may be a Scion version of the Toyota iQ minicar.

We’ll bring you more details from the 2009 New York Auto Show next month. Stay tuned.

- By: Omar Rana

Scion has announced that the tC Release Series 5.0 will debut in Chicago with a Toyota Racing Development (TRD) theme.

The new 2009 Scion tC RS 5.0 features gloss black exterior paint and numerous performance products from TRD including: TRD edition 18-inch multi-spoke alloy wheels, in matte black with red trim, and red TRD lowering springs provide this tC with its menacing presence, a red TRD rear sway bar, a black rear lip spoiler, a TRD sport muffler and TRD exterior badges. On the inside, the tC RS 5.0 comes with a black leather steering wheel featuring red stitching, black seats with red accents and floor mats with the TRD logo.

Scion will build 2,000 units of the tC Release Series 5.0. Sales will begin later this March with an MSRP of $2,300 over the base price of the tC. Pricing for the standard tC with a manual transmission starts at $17,000, while the standard tC with an automatic carries a price-tag of $17,800. The black lip spoiler will cost you an extra $285, not including installation.

2009 Scion tC Release Series 5.0:

Scion is planning on expanding its vehicle lineup with another vehicle that will join the xB, xD and tC. According to Scion’s Vice President Jack Hollis, Scion will replace the tC within the next two years. The tC, which made its debut 7 years ago, has yet to receive a major redesign; however, Hollis says that will not be the case for other Scion models.

“There are some that are going to be short. There are going to be three- to four-year life cycles. There are going to be some four to five, maybe five to six,” Hollis told Automotive News. “What we are looking at is: How can we add something fresh to the marketplace every year?”

Hollis said Scion will add its fourth model in about two to three years. He did not confirm what type of segment the car will fit in but said that “there is room for a bigger sedan and smaller vehicles” along with a possibility of a Scion pickup.

It has been previously reported that Scion is considering a mini SUV and even a hybrid model for under $20,000.

Scion today announced that it will show its first limited-production car at the 2009 North American International Auto Show in Detroit next week. The new Scion xB Release Series 6.0 will make its world debut next week and will be available at dealers starting next month.

The 2009 xB Release Series 6.0 comes in an Absolutely Red exterior paint with a custom black finish front grille and Release Series wheel covers. A rear-spoiler is available as an option. Inside, the limited-edition xB features a touch-screen Pioneer Audio Visual Navigation headunit with flash memory, voice recognition, MSN Direct, and Bluetooth. The AVN unit supports USB, SD card, and iPod connectivity. The 5.8-inch high-resolution WVGA LCD touch display allows the passenger and driver to play DVDs and iPod videos.

Other cool features include color-tuned four-in-one interior lights, RS 6.0 illuminated door sills, and accented interior trim and color-tuned seat fabric. Each unit comes with a numbered badge.

Scion will built on 2,500 units of the xB RS 6.0 with pricing to start at $17,493 with a manual transmission and $18,443 for the automatic.

2009 Scion xB Release Series 6.0:

According to the latest survey released by Consumer Reports, Japanese and Korean automakers produce the most reliable vehicles. However, Ford is catching up very quickly although it has yet to break the top teir. Toyota’s Scion brand came in with the highest average overall reliability. The Scion xD had the best predicted reliability of any car in the survey with 80 percent fewer problems than the average car.

There were no American automakers in the top ten although Ford’s Lincoln came in at number 11 right behind Kia. The F-250 pickup and Mercury Moutaineer were said to bring down the Ford Group’s overall performance rating.

“Excluding those, Ford’s reliability is now on par with good Japanese automakers,” Consumer Reports said.

You can read about the whole Reliability Findings over at Consumer Reports.

Whenever we see the Scion xD on the road it reminds us of the Toyota iQ – and that’s probably because a car the size of an iQ would fit perfectly into Scion’s lineup. Guess what? That’s exactly what may happen at the 2008 LA Auto Show.

According to Motor Trend’s sources, Toyota will bring the new iQ minicar to LA next month but instead of displaying it at the Toyota stand, the iQ will get a Scion badge and will join the xD, tC and xB. Why make such a move when all of us like calling it the Toyota iQ?

Well, for one Scion is in desperate needs to generate some buzz and improve its brand image. Second, Toyota doesn’t want another fuel-sipper to steal the spotlight from the next-generation Prius hybrid.

Pricing for the Scion iQ is expected to be around $15,000. Under the hood we will most likely get the 1.5L 4-cylinder found in the Yaris mated to a 5-speed manual or the optional Multidrive CVT.

Live from Paris 2008: Toyota iQ:

Toyota iQ:

Source: Motor Trend

Struggling Scion is losing its edginess. Monthly sales for Scion have been on a downward spiral since last September and according to analysts the ‘cool/youth’ brand isn’t attracting its targeted consumer base as well as it did in 2004-2005.

Besides a cheap hybrid that we’ve already heard about, Scion executives are saying the want to expand the lineup beyond the xB, xD and tC. According to Automotive News, a version of the Toyota Urban Cruiser is an option being considered for Scion.

Executives are even considering a mini-pickup based on the A-BAT concept. Not sure how that will be accepted by the Scion crowd – but it seems like Toyota is willing to do anything to save the struggling brand.

Source: Automotive News (Subscription Required)

Scion is in trouble and parent company Toyota is being forced to rethink the brand’s funky/youth image. It’s been a year since Toyota has released the second-generation versions of the Scion and the number of young people shopping Scion has dropped dramatically since 2006. It seems like it’s just not cool anymore to own a Scion.

Monthly sales for Scion have been declining since last September. However the streak ended in March 2008 after fuel-prices soared in April and Scion sales shot up 41.5 percent. Sales climbed 28.4 percent in May but were down again in June.

What happened? According to analysts Scion isn’t attracting its targeted audience as well as it had in 2004-2005. Scion executives are now considering something different – more along the lines of a green-image.

On the cards is a new Scion model says Jack Hollis, Scion’s vice president. “It could be a hybrid. We want a fourth product that buyers of the other three Scions don’t like.”

Whatever gets added, Hollis wants the sticker price to stay below $20,000.

Source: Automotive News (Subscription Required)

The cost of owning a vehicle goes beyond the purchase price. Expenses like insurance and maintenance can add up.

But most of all, it must start life with a sticker price well below even the most affordable luxury cars. A low purchase price holds down insurance premiums, taxes and fees, financing costs, and, especially, depreciation.

That’s why the priciest car on our list of the Top 10 Least Expensive Cars to Own is the tenth ranked Honda Civic DX, which starts at just $15,010.

Click through for the list of Top Least Expensive Cars to Own.

Top 10 Least Expensive Cars to Own in 2008 (Price/5-year cost of ownership):

10. Honda Civic DX sedan: $15,010/$33,759
9. Scion xD: $14,550/$33,486
8. Chevrolet Cobalt LS: $13,925/$33,362
7. Kia Rio: $10,890/$32,750
6. Dodge Caliber SE: $14,000/$32,736
5. Hyundai Accent GS: $10,775/$32,314
4. Nissan Versa S: $12,730/$32,261
3. Chevrolet Aveo5: $10,235/$32,059
2. Honda Fit: $13,950/$31,821
1. Toyota Yaris Liftback: $11,350/$30,820

View Slideshow for more information.

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Top 10 Least Expensive Vehicles to Own

These cars have low ownership costs because they’re small, fuel efficient, and low on amenities.

by JEFF ZYGMONT
ForbesAutos.com

The cost of owning a vehicle goes beyond the purchase price. Expenses like insurance and maintenance can add up.

To attain absolute rock bottom ownership costs — which still tally more than $30,000 over five years, even for a $10,000 car — a vehicle must be spartan. It must be small and lightweight to maximize fuel economy. And it should skimp on features, so that maintenance and repair costs stay low.

But most of all, it must start life with a sticker price well below even the most affordable luxury cars. A low purchase price holds down insurance premiums, taxes and fees, financing costs, and, especially, depreciation.

That’s why the priciest car on our list of the Top 10 Least Expensive Cars to Own is the tenth ranked Honda Civic DX, which starts at just $15,010.

Our ranking is based on data from Vincentric, a Bloomfield Hills, Mich.-based research company specializing in automotive cost analysis. Vincentric calculates five-year ownership expenses by estimating cumulative losses from depreciation, interest and opportunity costs, maintenance and repairs, taxes and fees, fuel, and insurance. See the end of this story for an explanation of each expense.

The vehicles on our list are relatively inexpensive, but their value is rising in the current economy, especially as gasoline prices climb. Autodata, which tracks sales for the auto industry, reports that overall vehicle sales dropped 8 percent in the first quarter of 2008. But the small-car segment actually grew by 3 percent during that down period.

If small-car demand continues to grow, ownership costs could decrease even more: Higher prices for economical used cars will keep new-vehicle depreciation in check.

“It’s always a matter of supply and demand,” says David Wurster, Vincentric’s president. “As people want more of these vehicles, they vote up their price.”

A good resale value is critical to total ownership cost because depreciation is the greatest single part of the total. Cars with lower depreciation rates (higher resale values) will require lower total ownership expenses than peers in the same price group or model segment. Six models on our list incur higher fuel expenses, but only because depreciation takes fewer dollars from budget-priced cars to begin with.

“Depreciation is the one cost that most people forget about,” says John Paul, manager of public affairs for AAA of Southern New England. “They look at all the other costs, but they forget how much a car is going to depreciate, even over the first year.”

To gauge deprecation rates when shopping for a new car, Paul suggests researching used-car prices for models on your list. Comparing used prices to the prices of new models shows approximately how much each vehicle depreciates.

“Sometimes the cheapest car isn’t always the best deal, especially when it comes time to trade it in,” Paul says.

A company’s reputation can also indicate how well a vehicle holds its value.

“The vehicles with very good reputations for quality are going to continue to do best,” Vincentric’s Wurster says. “That’s why you see Toyotas and Hondas doing well year after year. They have good reputations.”

Indeed, the two Hondas on our list depreciate much less than most other models in the top 10. The Honda Fit makes the No. 2 spot on the strength of its low, 58 percent depreciation rate over five years. With a 62 percent depreciation rate, the Honda Civic DX sneaks onto the list at No. 10, even though it has a high starting price compared to other models in the ranking.

That’s not accidental. Recognizing the allure of low depreciation, Honda pursues a strategy aimed at maintaining high resale rates.

“It’s a very long-term outlook of protecting the brand by protecting resale value,” says Honda spokesperson Chris Naughton.

The pillars of that program include striving for high quality and durability so its models will remain desirable even after they rack up lots of miles. Honda avoids building more cars than it can sell and adjusts its factory output to match consumer demand, Naughton says. It also avoids selling to car-rental and commercial fleets. Both strategies prevent over-supplying the market, which depresses used-car prices. Balancing supply with demand also negates the need for sales incentives, which reduce used-car values by reducing new-car values.

“We avoid at all costs being put in the position of stress merchandising,” Naughton says.

Korean automakers Hyundai and Kia each have one vehicle in the ranking — the Hyundai Accent places fifth and the Kio Rio seventh. But the brands aren’t as well regarded as Honda or Toyota, which likely contributes to their high depreciation rates — 77 percent for the Accent and 78 percent for the Rio.

Another Korean-made vehicle, the American-branded Chevrolet Aveo5, made the third spot on the list and also has a high depreciation rate, at 73 percent. The Dodge Caliber SE, in sixth place, and Chevrolet Cobalt LS, in eighth, are the only other domestic models in the ranking.

Five of the least-expensive-to-own vehicles hail from Japan, including the top-ranked Toyota Yaris Liftback, which carries a five-year predicted cost of ownership of $30,820.

Models with attractive low depreciation rates exist in all vehicle categories. But if being frugal takes priority above all other automotive concerns, consider one of the 10 vehicles on this list. In the slideshow you’ll find individual model descriptions along with Vincentric’s projected total cost of ownership after five years, including a breakdown of the six components that make up that total.

All are 2008 base models. The manufacturer suggested retail price (MSRP) and ownership costs shown with each model apply only to the most basic version of the vehicle. That usually means it has a five-speed manual transmission. If you add equipment or move up trim levels, ownership costs typically increase accordingly.

Cost estimates are based on prices from March 2008. Interest expenses assume a five-year loan at current rates, with a 15 percent down payment. Opportunity costs consider what owners would have earned if car expenses were placed into certificates of deposit instead. Insurance costs are for a typical driver under age 65 with a clean record. Depreciation assumes the vehicle is disposed of in a private party transaction. To compute fuel costs, Vincentric used a five-month weighted pump-price average. Each model’s five-year cost of fuel is calculated by using EPA fuel-economy ratings as published in the agency’s 2008 Fuel Economy Guide.

Kelley Blue Book has announced its picks for the Top 10 Coolest New Cars Under $18,000. To make the list, the editors at KBB.com thought like consumers, picking cars that they felt were safe, good in fuel-economy, interior size, comfort, technology and fun-to-drive.

Now remember just because a vehicle is listed first doesn’t necessarily mean it’s the cheapest or the coolest on the list. All cars on the list are considered cool and are under $18,000. They are just listed in alphabetical order.

All the cars on the list were chosen using Kelly Blue Book’s New Car Blue Book Value which reflects real transaction prices and provide a useful comparison to the MSRP of the car.

Let us know what you would buy in the comments section below.

Click through for press release and the list.

KBB.COM NAMES TOP 10 COOLEST NEW CARS UNDER $18,000
Versatile, Technology-Filled Vehicles Lead in Growing Entry-Level Segment

IRVINE, Calif., April 29, 2008 – The expert editors at Kelley Blue Book’s kbb.com (www.kbb.com), the leading provider of new- and used-vehicle information, today announce their picks for the Top 10 Coolest New Cars Under $18,000. The vehicles that made Kelley Blue Book’s 2008 list of Top 10 Coolest New Cars Under $18,000 — typically a gas-sipping bunch — arguably are cooler than they have ever been. More fun, more practical and more amenity-laden than ever before, today’s entry-level vehicles deliver more than simply affordable and efficient transportation.

Versatility and technology are growing trends in the under-$18,000 segment. Eight of the cars on this year’s list are flexible five-door hatchbacks, or available as such. The collective options list includes navigation, hard-drive music storage, voice-controlled iPod integration, Bluetooth phone connectivity, push-button start and leather seating – some of which were introduced on high-end luxury cars just a few years ago.

“The vehicles on our Top 10 Coolest New Cars Under $18,000 list are very fun to drive and feature-filled; first-time buyers and frugal down-sizers have never had it so good,” said Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book’s kbb.com. “Manufacturers are finding ways to nicely equip their entry-level vehicles while still keeping the price reasonably low, and consumers are reaping the benefits more and more each year.”

In choosing the 2008 list of Top 10 Coolest New Cars Under $18,000, the kbb.com editors used the same set of criteria that many consumers use in examining this category: safety, fuel economy, interior size, comfort, technology, the vehicle’s fun-to-drive-factor, as well as the decidedly subjective “cool” factor.  The editors compiled the list of qualifying vehicles using Kelley Blue Book’s New Car Blue Book Values, which reflect real-world transaction prices and provide a more useful comparison point than Manufacturer’s Suggested Retail Price (MSRP). Every vehicle on the list can be purchased for less than $18,000.

Kbb.com Editorial Comments on the Top 10 Coolest New Cars Under $18,000

2008 Ford Focus
“Cool” might not be the first word that pops into your head upon seeing the new Ford Focus, but don’t judge this book by its cover. The Focus sedan and coupe are the most affordable cars in which you can get the SYNC music and phone integration system that allows you, for instance, to play any song in your digital library simply by saying its name. That’s cool.
MSRP:   $15,280             *NEW CAR BLUE BOOK VALUE: $14,942
 
2008 Honda Fit
With gas prices on the rise, small cars like the Honda Fit are gaining in popularity. The Fit sips gasoline and offers the sportiest driving experience available in an econo-car. Plus, the seats can be configured in multiple arrangements, so it can easily hold things like your friends, your gear or a medium-sized alpaca (according to a photo on Honda’s Web site, anyway).
MSRP:   $14,585             *NEW CAR BLUE BOOK VALUE: $14,585
 
2008 Jeep Patriot
The Jeep Patriot has a classic look reminiscent of the departed Jeep Cherokee plus a functional interior and a sub-$18,000 price tag — even when equipped with four-wheel drive. Combined with highway fuel economy up to 28 miles per gallon, the Patriot delivers a cool mix of SUV-like versatility and car-like efficiency for buyers on a budget.
MSRP:   $16,055             *NEW CAR BLUE BOOK VALUE: $15,894
 
2008 Mazda3
On our list for the fifth year in a row and still in its first generation, the Mazda3 is the current elder statesman of cool compact cars. Available in four- and five-door layouts, the dynamic Mazda3 is responsive, quick and stylish, but also comfortable, efficient and practical.
MSRP:   $17,230             *NEW CAR BLUE BOOK VALUE: $16,799
 
2008 Mitsubishi Lancer
The Mitsubishi Lancer’s aggressive, rally-inspired looks belie a starting price of less than $15,000. The low cost of entry will leave many buyers with enough extra cash to add cool options like a hard-drive navigation system, an impressive premium audio system or perhaps a stylish spoiler.
MSRP:   $14,615             *NEW CAR BLUE BOOK VALUE: $14,396
 
2009 Pontiac Vibe
The hot-looking Pontiac Vibe has always delivered a very cool combination of affordability, versatility and fuel economy. Compared with its predecessor, the new-for-’09, second-generation Vibe boasts a sportier look inside and out, more powerful engines and even a lower starting price.
MSRP: $15,895              *NEW CAR BLUE BOOK VALUE: $15,895
 
2008 Scion xB
The original “box on wheels” grew rounder, larger and more powerful for 2008, but the xB remains a distinctively styled non-conformist. Cool standard features include steering-wheel mounted audio controls, iPod integration and a choice of three wheel designs for instant customization at the dealership.
MSRP:   $16,270             *NEW CAR BLUE BOOK VALUE: $16,351
 
2008 Subaru Impreza
With 170 horsepower, all-wheel drive and a double-wishbone rear suspension, the Subaru Impreza sedan adds a sporty and capable touch to our cool car selections. The five-door variant has a similar base price and suits those in need of more cargo room for their active lifestyles.
MSRP:   $17,640             *NEW CAR BLUE BOOK VALUE: $17,375
 
2008 Suzuki SX4
This is the second year in a row that Suzuki’s small crossover has made our list of cool cars under $18,000. In addition to a sporty exterior and roomy, stylish interior, the SX4 still has the distinction of being the least expensive all-wheel-drive vehicle sold in America.
MSRP:   $15,395             *NEW CAR BLUE BOOK VALUE: $15,164
 
2008 Volkswagen Rabbit
The versatile and affordable Volkswagen Rabbit hopped its way onto our list with its perky 2.5-liter engine, comfortable ride, sharp handling and a level of interior refinement rivaling that of some much pricier vehicles.
MSRP:   $16,250             *NEW CAR BLUE BOOK VALUE: $16,088

If there is any automaker out there that knows its owners love to personalize and customize their cars, it’s Scion. In its new campaign called Scion Speak, Scion is helping owners design their own personal ‘coat of arms’ online. The coat of arms can then be painted onto a customers Scion.

Head over to Scion Speak to create your own coat of arms and download it to have it made into a window decal or have it painted on by an auto customizer. While creating your own and downloading is completely free, expect to pay a good amount to have a professional transfer them to your ride.

Source: Scion Speak (via InsideLine)