ALG has released the winners of its 2020 Residual Value Awards and Honda and Land Rover have come out as two of its top winners.
Honda received the company’s top spot for the mainstream brand category and Land Rover earned the stop for the luxury brand category.
In total, the awards recognized vehicles in 27 segments. These vehicles are projected to hold the highest percentage of their MSRP after a three-year period.
“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 the vehicle ownership.
Honda earned the most awards among mainstream brands. Honda earned six awards in both car and truck segments, which included its wins for its subcompact Honda Fit, midsize Honda Accord, and Minivan Honda Odyssey.
Subaru earned the second-most awards in the mainstream brand with four awards for its compact, compact utility, sportscar, and subcompact utility segment vehicles.
This year marked the first time ALG awarded a vehicle in the premium subcompact utility category. The addition of this award was an indication of the popularity of the utility category — Audi took the honor with its Audi Q3.
Land Rover earned the most awards in the premium brand category with three wins for its premium full-size utility, premium midsize utility 2nd row seating, and premium midsize utility 3rd row seating segment vehicles.
Originally posted on Vehicle Remarketing