Mazda has been recognized by Kelley Blue Book as the brand with the most affordable five-year cost of ownership for the second year in a row.

The Japanese carmaker's North American operations announced receiving the 2014 5-Year Cost to Own Award on Wednesday.

"­­New-car shoppers naturally want to know how much a car will cost upfront; however, they also should consider what vehicles will save them money down the road," Dan Ingle, vice president of vehicle valuations for KBB, said in a press release.

"Kelley Blue Book's 5-Year Cost to Own information evaluates the other out-of-pocket expenses drivers will incur in the first five years and Mazda tops the list among all non-luxury brands."

KBB.com noted Mazda's fair pricing, strong fuel economy, low insurance costs and residual values, said the press release.

Based on KBB data, the award recognizes vehicles and brands with the best projected ownership costs for the first five years.

Factors that are considered include "depreciation, expected fuel costs, finance and insurance fees, maintenance and repair costs and state fees for new models," according to the press release.

The award encompasses the brand, so consumers should expect these desirable qualities in any Mazda model, including Mazda3 and Mazda6.

"Hard work and dedication to building the best possible vehicles has brought Mazda to its second consecutive year earning the 5-year Cost to Own Award for the overall Mazda brand," Jim O'Sullivan, president and CEO of Mazda in North America, said in the press release.

"Mazda's new generation of vehicles continue to perform very well against the competition, not only with driving dynamics and fit and finish, but fuel economy and overall cost of ownership, and this award is additional proof of that."

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