Compact Car: 2012 Kia Soul
5-Year Ownership Cost: $31,417 MSRP: Starting at $13,900Among the compact car category, 2012 Kia Soul was calculated to be cheapest to own. The boxy looking design is unique and practical, receiving rave reviews and good sales figures. Costing just above $30k to own over the course of 5 years, Kia Soul is well ahead of the second-place winner Hyundai Elantra by $1,300.The MSRP information is from the company’s website, and it may be different than the data KBB used for calculation. Kia

During an earnings conference call today, a Kia executive has revealed plans to roll out the next-generation 2014 Soul as early as next year, according to a report from Reuters.

The second bestselling vehicle in North America and the number 1 most recognizable vehicle in its line-up, the Kia Soul rides on an identical platform as the redesigned Kia Rio. Currently, it is offered with either a 1.6 liter four-cylinder engine that produces 138-hp or a larger 2.0 liter engine that produces 164-hp.

Plans for Kia's new compact car rollout will begin with a new Forte launch in September closely followed by the Soul at a later date next year.

So far, 63,000 examples of the Kia Soul has been sold in just the first half of 2012. Expect the new Soul's design to retain much of the stylistic influences of the outgoing model to ride on the first generation's success.

Finally, be sure to check out our sweet little 2012 Kia Soul by clicking on the link here.