Honda, Land Rover Win Overall Brand Honors in 20th Annual ALG Residual Value Awards That Recognize Vehicles That Best Hold Th...
November 18 2019 - 9:00AM
ALG, the benchmark for forecasting future vehicle values, and the
analytics subsidiary of TrueCar, Inc. (NASDAQ: TRUE) today
announced the winners of ALG’s 2020 Residual Value Awards (RVA),
ranking Honda and Land Rover as the top Mainstream Brand and
Premium Brand, respectively.
The prestigious ALG Residual Value Awards (RVA) recognize
vehicles in 27 segments that are projected to hold the highest
percentage of their Manufacturer's Suggested Retail Price (MSRP)
after a three-year period, an important consideration for car
buyers when assessing the total cost of ownership for a particular
vehicle. This year's recipients have shown strong value in their
competitive segments and were chosen from all 2020 model year
vehicles on sale in the United States in the Premium and
Mainstream segments. The awards will be presented to automakers
this week at the Los Angeles Auto Show.
"Strong residual values are the foundation of successful
automotive brands,” said Eric Lyman, Chief Industry Analyst at ALG,
a subsidiary of TrueCar. “The residual value is important for
consumers to take into consideration before making their next
vehicle purchase because we know that depreciation is the single
biggest cost of vehicle ownership.”
“For the 2020 Residual Value Awards, we see that both overall
brand winners, Honda and Land Rover, have a healthy mix across
their lineups winning in a variety of segment awards,” continued
Lyman.
“Brand outlook is another key factor that determines how well a
particular model holds its value,” said Valeri Tompkins, Senior
Vice President of OEM Solutions for ALG and TrueCar. “The models
recognized in ALG’s Residual Value Awards benefit from their
brands’ positive perception with consumers, helping them limit mass
discounting in order to drive volume. It’s no surprise that both
Honda and Land Rover are among the brands with the lowest
incentives as a percentage of their average transaction price.”
Honda leads with the most segment awards in the Mainstream Brand
category, earning six different awards for a variety of vehicles
across different segments their lineup, including the subcompact
Honda Fit, the midsize Honda Accord and the minivan Honda
Odyssey.
Subaru follows Honda in the Mainstream Brand category with four
wins in the Compact, Compact Utility, Sportscar and Subcompact
Utility segments.
For the first time, ALG introduces the Premium Subcompact
Utility category to this year’s Residual Value Awards, with Audi
taking top honors in the new category with the Audi Q3.
Land Rover captures the most segment wins in the Premium Brand
category, taking home three trophies for the Premium Fullsize
Utility segment, the Premium Midsize Utility 2nd Row Seating
segment and the Premium Midsize Utility 3rd Row Seating
segment.
Award winners are determined through careful analysis of used
vehicle performance, brand outlook and product competitiveness.
Eligibility for a brand award requires a manufacturer to have
vehicle entries in at least four different segments. To account for
differences across trim levels, model averages are weighted based
on percentage share relative to the entire model line.
Below is the full list of 2020 ALG Residual Value Awards
winners:
RVA Overall |
Brand |
Mainstream |
Honda |
Premium |
Land Rover |
RVA Segment |
Model |
Electric |
Audi E-Tron |
Compact |
Subaru Impreza |
Compact Utility |
Subaru Forester |
Fullsize |
Dodge Charger |
Fullsize Commercial |
Mercedes-Benz Sprinter |
Fullsize Pickup |
GMC Sierra HD |
Fullsize Utility |
Chevrolet Tahoe |
Midsize |
Honda Accord |
Midsize Commercial |
Mercedes-Benz Metris |
Midsize Pickup |
Toyota Tacoma |
Midsize Utility 2nd Row Seating |
Honda Passport |
Midsize Utility 3rd Row Seating |
Honda Pilot |
Minivan |
Honda Odyssey |
Off-Road Utility |
Jeep Wrangler |
Premium Subcompact Utility |
Audi Q3 |
Premium Compact |
BMW 2-Series |
Premium Compact Utility |
Porsche Macan |
Premium Executive |
Lexus LS |
Premium Fullsize |
Volvo V90 |
Premium Fullsize Utility |
Land Rover Range Rover |
Premium Midsize |
Lexus RC |
Premium Midsize Utility 2nd Row Seating |
Land Rover Range Rover Sport |
Premium Midsize Utility 3rd Row Seating |
Land Rover Discovery |
Premium Sportscar |
Porsche 911 |
Sportscar |
Subaru WRX |
Subcompact |
Honda Fit |
Subcompact Utility |
Subaru Crosstrek |
About ALG
Founded in 1964 and headquartered in Santa Monica, California,
ALG is an industry authority on automotive residual value
projections in both the United States and Canada. By analyzing
nearly 2,500 vehicle trims each year to assess residual value, ALG
provides auto industry and financial services clients with market
industry insights, residual value forecasts, consulting and vehicle
portfolio management and risk services. ALG is a wholly-owned
subsidiary of TrueCar, Inc., a digital automotive marketplace that
provides comprehensive pricing transparency about what other people
paid for their cars. ALG has been publishing residual values for
all cars, trucks and SUVs in the U.S. for over 55 years and in
Canada since 1981.
About TrueCar
TrueCar, Inc. (NASDAQ: TRUE) is a digital automotive
marketplace that provides comprehensive pricing transparency about
what other people paid for their cars and enables consumers to
engage with TrueCar Certified Dealers who are committed to
providing a superior purchase experience. TrueCar operates its own
branded site and its nationwide network of more than 16,500
Certified Dealers also powers car-buying programs for some of the
largest U.S. membership and service organizations, including USAA,
AARP, American Express, AAA and Sam's Club. Over half of all new
car buyers engage with the TrueCar network during their purchasing
process. TrueCar is headquartered in Santa Monica, California, with
offices in San Francisco and Austin, Texas. For more information,
please visit www.truecar.com, and follow us on Facebook or Twitter.
TrueCar media line: +1-844-469-8442 (US toll-free) Email:
pressinquiries@truecar.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0e6605ab-045b-4265-8742-3df080065971
PR Contact
Shadee Malekafzali
424-258-8694
shadee@truecar.com
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