Toyota, Land Rover lead resale value
California-based auto value forecasting firm ALG on Monday released its list of vehicles with the best resale value, and foreign automakers led the way.
ALG found Toyota tops for residual value for a mainstream brand and Land Rover the best premium brand. ALG's rankings predict which brands and vehicles after three years will hold the highest percentage of their original manufacturer's suggested retail price.
“Residual value is important for automakers and consumers because it’s a complete indicator of the vehicle’s future value, accounting for quality, durability and brand desirability among other factors,” Larry Dominique, president of ALG and executive vice president of TrueCar, said in a statement. “The award recipients demonstrate strong forecasted returns on investments for their owners.”
The awards will be presented to automakers this week at the Los Angeles Auto Show.
Toyota won five segment awards, including honors for its 4Runner, Tacoma, Tundra, Prius V and Highlander.
Among Detroit’s automakers, the Dodge Charger, Chevy Tahoe and Ford Transit Connect all earned awards for the first time.
“Even in a robust automotive industry, where competition is fierce, we’ve seen automakers keep incentive spending down, which helps maintain high residual values,” said Dominique. “That benefits consumers and businesses, helping their vehicles retain strong values and leading to lower overall costs of ownership.”
The full list of winners are:
■Mainstream Brand: Toyota
■Premium Brand: Land Rover
■Subcompact Car: Honda Fit
■Compact Car: Mazda3
■Midsize Car: Subaru Legacy
■Fullsize Car: Dodge Charger
■Sports Car: Subaru WRX
■Alt-Fuel Vehicle: Toyota Prius V
■Minivan: Honda Odyssey
■Subcompact Utility Vehicle: MINI Countryman
■Compact Utility Vehicle: Honda CR-V
■Midsize Utility Vehicle 2 Row: Subaru Outback
■Midsize Utility Vehicle 3 Row: Toyota Highlander
■Fullsize Utility Vehicle: Chevrolet Tahoe
■Off-Road Utility Vehicle: Toyota 4Runner
■Midsize Pickup: Toyota Tacoma
■Fullsize Pickup: Toyota Tundra
■Midsize Commercial Van: Ford Transit Connect
■Fullsize Commercial Van: Mercedes-Benz Sprinter
■Premium Compact Car: MINI Hardtop
■Premium Midsize Car: Lexus IS
■Premium Fullsize Car: Hyundai Genesis
■Premium Executive Car: Porsche Panamera
■Premium Sports Car: Audi TT
■Premium Compact Utility: Porsche Macan
■Premium Midsize Utility 2 Row: Land Rover Range Rover Sport
■Premium Midsize Utility 3 Row: Lexus GX
■Premium Fullsize Utility: Toyota Land Cruiser