J.D. Power says that when a vehicle retains a strong resale value, it also typically has higher residual values, and the company said in a news release that those vehicles “offer unmistakable benefits to automakers and consumers alike.”
In the 2019 J.D. Power Resale Value Awards, which were presented to automakers on Wednesday, the GMC Sierra 3500 was shown to have the best resale value in the industry.
Other brands also took the spotlight, with Lexus receiving the most model-level awards with six. Honda followed with five model-level awards, Toyota won four, and Porsche received three model-level awards.
The awards recognize the top resale value across 26 model-level segments following three years of ownership. Lexus won model-level awards for the CT, RC, GS, NX, RX, and LX. Honda’s model-level awards were for the Fit, Civic, Accord, CR-V and Odyssey.
Toyota won model-level awards for the Prius, Tacoma, 4Runner, and Tundra, while Porsche’s model-level awards were for the Cayman, 911 and Panamera.
The Audi Q3, Chevrolet Tahoe, Dodge Challenger, Dodge Charger, GMC Sierra 3500, Scion tC and Subaru Crosstrek were additional models that ranked highest in their respective segments.
J.D. Power vice president of vehicle valuations and analytics Jonathan Banks said in a news release that depreciation is one of new-vehicle owners’ biggest concerns.
“Our transaction database shows the models that have the lowest depreciation costs, which can be very helpful to new-car buyers when deciding on their purchase,” Banks said.
J.D. Power evaluated 256 vehicle models for the 2019 award process. For the evaluation, the company used a sample of more than 630,000 transactions and assessed an average of 2,400 transactions on each vehicle.
The company explained that it uses used-vehicle wholesale prices for its award selection process, and the prices show how much a dealer pays for a used vehicle. These prices are then divided by the vehicle’s original purchase price, and the company bases the calculations on wholesale records from January through June 2019 for three-year-old vehicles. The applicable model year is 2016 for the 2019 calculation.