Kelley Blue Book has rated Volvo's XC40 as its best new model among its 2019 Best Buy award winners, which offer high value at purchase and during the ownership experience, according to the vehicle valuation firm.

"Shopping for a new car can be a daunting task, and with hundreds of options to choose from, it is hard to identify what vehicles earn top marks in pricing, ownership costs, expert evaluation, consumer opinion and more," said Karl Brauer, executive publisher for Kelley Blue Book. "The Best Buy awards were designed to help consumers shop with confidence by doing the heavy lifting for them and providing clear guidance on which specific car, truck, minivan and SUV models they should be prioritizing and considering for their next new-car purchase."

The company evaluated more than 300 models available in the 2019 model year based on a year-long process of testing the vehicles and analyzing vehicle data, including pricing and costs of ownership over five years (including depreciation, insurance, maintenance, financing, fuel, fees, and taxes). Other data points came from customer reviews and sales information.

Volvo's XC40 scored highly for its $34,000 starting price and "plenty of usable passenger and cargo space on a compact footprint," according to Kelley Blue Book. The vehicle also offers cutting-edge technology with its infotainment and safety features.

Vehicles in 14 other segments will also singled out as top among their peers, including Ford's F-150 for pickup truck and Expedition for full-size SUVs. Six Honda models were selected, including the Civic, Accord, CR-V, Pilot, Odyssey, and Clarity Plug-in Hybrid. Hyundai's Kona and Veloster N earned awards, as did Audi's Q5 and Q7. The Lexus ES was the top luxury car.