For the second consecutive year, the Prius IV from Toyota Motor Corp. (NYSE: TM) has been named the best value among new cars by Consumer Reports magazine. The Fit from Honda Motor Co. Ltd. (NYSE: HMC) finished second in the rankings for the second year in a row, after four years at the top. The worst value, according to the magazine, is the Nissan Armada Platinum.

Vehicles are ranked on a combination of performance, utility and reliability for the money, considering all costs of ownership over a five-year period. Consumer Reports notes that, in general, small cars and sedans provide the best overall value.

Toyota has three vehicles in the top 10: the Prius IV, the Scion xB and the Corolla LE Plus. Honda also nabs three of the top 10 slots with the Fit, the Civic EX and the Civic Hybrid. Two of the remaining spots are held by Volkswagen for its Golf (2.5) and Golf TDI (manual transmission). Subaru snags the final two slots with the Forester 2.5i Premium and the Impreza Premium.

Nissan places two vehicles, the Armada and the Pathfinder, on the worst value list. General Motors Co. (NYSE: GM) also gets two spots on this list for its Cadillac Escalade and Cadillac XTS Premium. Ford Motor Co. (NYSE: F) claims four of the worst 10 slots for its Lincoln MKX (3.7) and MKS (base, 3.7) and the Explorer XLT and F-250 Lariat. The Jeep Wrangler Unlimited Sahara from Chrysler Group and the BMW 750Li rounds out the worst 10 list.

The base price range for a Toyota Prius IV runs from $24,200 to $34, 905. The Nissan Armada Platinum base price ranges from $37,240 to $52,510. The Prius averages 43 miles per gallon of gasoline while the Armada can claim just 13 mpg. Predicted reliability for the Prius is much better than average, while on the same basis the Armada is much worse than average.

There are all kinds of interesting observations that could be offered about these two lists. For example, if Volkswagen makes two of the best-value cars, why can it not sell more of them? Why is Ford pumping so much money and effort into its Lincoln brand when sales are anemic and the car is so costly to own? When is Nissan going to do something to get itself back into the game in the United States?

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