ALG released the results of its 15th Annual Residual Value Awards (RVAs) this morning, and Land Rover and Toyota took the top honors for premium brand and mainstream brand, respectively.
Toyota also lead the pack in segment awards, taking home eight RVAs.
Honda and Subaru also performed well with three wins apiece.
“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,” said Larry Dominique, president of ALG and executive vice president of TrueCar. “The award recipients demonstrate strong forecasted returns on investments for their owners.”
This is the first overall win for Land Rover, and ALG analysts say it comes as a result of its new products that have garnered high demand.
“With some models like the Range Rover Sport, we’re seeing vehicles on the dealer lot for just 13 days on average — far below the industry’s 65-day average,” said Dominique. “Some Land Rover models are in such high demand that they’re selling above MSRP — a remarkable achievement that’s only possible with manufacturer restraint and a tightly controlled supply chain.”
ALG’s Residual Value Awards — which recognize vehicles in 26 segments — rank vehicles that are forecast to retain the highest percentage of their MSRP after a three-year period.
The awards will be presented to automakers this week at the Los Angeles Auto Show.
Toyota took home five mainstream brand segment awards. Highlights for the automaker include the Toyota Prius v wagon overtaking last year’s winner, the Prius c subcompact car, in the alternative-fuel category; the Toyota Tacoma pickup truck winning a 14th straight RVA; and the Toyota Tundra winning its fourth consecutive RVA, ALG pointed out.
Toyota was also recognized for its premium products, as well, taking home three RVAs for the Lexus IS, Lexus GX and Toyota Land Cruiser.
“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.”
Perhaps a sign of this is this year's long list of first-time RVA winners.
Eight vehicles earned RVAs for the first time, including:
- Dodge Charger (Full-size Car)
- Subaru WRX (Sports Car)
- Toyota Prius v (Alt-Fuel Vehicle)
- Chevrolet Tahoe (Full-size Utility Vehicle)
- Ford Transit Connect (Mid-size Commercial Van)
- Hyundai Genesis (Premium Full-size Car)
- Audi TT (Premium Sports Car)
- Porsche Macan (Premium Compact Utility Vehicle)
“It is great to see such a diverse mix of brands winning this year,” Dominique noted. “It shows the industry as a whole continues to improve residual values, benefitting consumers and automakers alike.”