ALG announced winners of its eighth annual Canadian Residual Value Awards on Wednesday with Subaru and Land Rover taking top honors for mainstream brand and premium brand, respectively.

Analysts highlighted that Subaru repeated as the top-ranking marque among mainstream brands, claiming a total of three segment awards. The haul included the Subaru Outback, a perennial winner in the midsize utility (two-row) segment.

ALG noted that an all-wheel-drive strategy coupled with disciplined incentive spending continues to be the driving forces behind Subaru’s high residual values.

Land Rover’s top ranking among premium manufacturers marks the OEM’s second consecutive win.

Analysts explained that consumer demand for Land Rover products has increased following a newly expanded lineup and enhanced luxury amenities, resulting in limited incentive spending and high residual values. Land Rover models also won in two segments this year: Range Rover Sport and Discovery Sport.

Among mainstream brands, Toyota edged out Honda with a total of five segment awards, including the Tundra pickup truck’s seventh and the Tacoma’s sixth consecutive residual value award. Honda received segment awards for four of its models, including the redesigned Honda Pilot in the midsize utility (three-row) segment.

Other highlights include: The all-new Nissan Maxima’s top ranking in the full-size car segment, the Porsche Panamera’s first award for Porsche Cars Canada in the premium executive car segment, and the highly anticipated Mercedes-AMG GT S’s top ranking in the premium sports car segment.

ALG’s Canadian Residual Value Awards (RVA) recognize vehicles in 27 segments, ranging from city car to full-size commercial van, that are projected to retain the highest percentage of their manufacturer’s suggested retail price (MSRP) after a four-year period for mainstream brands and three-year period for premium brands.

This year’s recipients were chosen from 2016 model year vehicles that have shown strong value in their competitive segments. The awards will be presented to automakers this week at the Toronto Auto Show.

“Depreciation is the single biggest cost of vehicle ownership, and informed consumers understand the importance of resale value when making their purchase decision,” said Jim Nguyen, executive vice president and general manager of ALG.

“The ALG Residual Value Award is a meaningful achievement in the hyper-competitive automotive landscape,” Nguyen continued. “Residual values are a key indicator for the market success of a vehicle, factoring in quality, product execution and brand desirability as primary drivers of ALG’s forecast.”

Below is the full list of 2016 RVA winners:

RVA Overall

Mainstream Brand: Subaru

Premium Brand: Land Rover

RVA Mainstream

City Car: Nissan Micra

Subcompact Car: Nissan Versa Note

Compact Car: Subaru Crosstrek

Midsize Car: Honda Accord

Full-size Car: Nissan Maxima

Sports Car: Subaru WRX

Alt-Fuel Vehicle: Toyota Prius v

Minivan: Honda Odyssey

Subcompact Utility Vehicle: Kia Soul

Compact Utility Vehicle: Honda CR-V

Midsize Utility Vehicle – 2 Row: Subaru Outback

Midsize Utility Vehicle – 3 Row: Honda Pilot

Full-size Utility Vehicle: Toyota Sequoia

Off-Road Utility Vehicle: Toyota 4Runner

Midsize Pickup: Toyota Tacoma

Full-size Pickup: Toyota Tundra

Midsize Commercial Van: Ford Transit Connect

Full-size Commercial Van: Mercedes-Benz Sprinter

RVA Premium Segment

Premium Compact Car: MINI Cooper

Premium Midsize Car: Acura TLX

Premium Full-size Car: Hyundai Genesis

Premium Executive Car: Porsche Panamera

Premium Sports Car: Mercedes-AMG GT S

Premium Compact Utility Vehicle: Land Rover Discovery Sport

Premium Midsize Utility Vehicle – 2 Row: Land Rover Range Rover Sport

Premium Midsize Utility Vehicle – 3 Row: Lexus GX

Premium Full-size Utility Vehicle: Mercedes-Benz G-Class