ALG, analytics subsidiary of TrueCar, Inc. today announced the winners of ALG’s 2020 Residual Value Awards (RVA), ranking Honda and Land Rover as the top Mainstream Brand and Premium Brand, respectively.
The prestigious ALG Residual Value Awards (RVA) recognize vehicles in 27 segments that are projected to hold the highest percentage of their Manufacturer’s Suggested Retail Price (MSRP) after a three-year period, an important consideration for car buyers when assessing the total cost of ownership for a particular vehicle. This year’s recipients have shown strong value in their competitive segments and were chosen from all 2020 model year vehicles on sale in the United States in the Premium and Mainstream segments. The awards will be presented to automakers this week at the Los Angeles Auto Show.
“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 vehicle ownership.”
“For the 2020 Residual Value Awards, we see that both overall brand winners, Honda and Land Rover, have a healthy mix across their lineups winning in a variety of segment awards,” continued Lyman.
“Brand outlook is another key factor that determines how well a particular model holds its value,” said Valeri Tompkins, Senior Vice President of OEM Solutions for ALG and TrueCar. “The models recognized in ALG’s Residual Value Awards benefit from their brands’ positive perception with consumers, helping them limit mass discounting in order to drive volume. It’s no surprise that both Honda and Land Rover are among the brands with the lowest incentives as a percentage of their average transaction price.”
Honda leads with the most segment awards in the Mainstream Brand category, earning six different awards for a variety of vehicles across different segments their lineup, including the subcompact Honda Fit, the midsize Honda Accord and the minivan Honda Odyssey.
All-new this year, the 2020 Honda Passport combines rugged styling and off-road capability with on-road and around-town refinement, helping give it the win in ALG’s Midsize Utility 2-Row category. The Pilot returns to the Midsize Utility 3-Row category, while Accord takes ALG’s Midsize Car category for the third year in a row. Celebrating its 25th anniversary with a special accessory package, the 2020 Honda Odyssey retains its top spot in the Minivan category. The 2020 Honda Fit returns to the top of the Subcompact Car category for the sixth year in a row, thanks in part to the unparalleled cargo and passenger flexibility of its 2nd-row Magic Seat
Subaru follows Honda in the Mainstream Brand category with four wins in the Compact, Compact Utility, Sportscar and Subcompact Utility segments.
For the first time, ALG introduces the Premium Subcompact Utility category to this year’s Residual Value Awards, with Audi taking top honors in the new category with the Audi Q3.
Land Rover captures the most segment wins in the Premium Brand category, taking home three trophies for the Premium Fullsize Utility segment, the Premium Midsize Utility 2nd Row Seating segment and the Premium Midsize Utility 3rd Row Seating segment.
Award winners are determined through careful analysis of used vehicle performance, brand outlook and product competitiveness. Eligibility for a brand award requires a manufacturer to have vehicle entries in at least four different segments. To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line.
Below is the full list of 2020 ALG Residual Value Awards winners:
|Subcompact Utility||Subaru Crosstrek|
|Compact Utility||Subaru Forester|
|Midsize Utility 2nd Row Seating||Honda Passport|
|Midsize Utility 3rd Row Seating||Honda Pilot|
|Fullsize Utility||Chevrolet Tahoe|
|Off-Road Utility||Jeep Wrangler|
|Fullsize Pickup||GMC Sierra HD|
|Midsize Pickup||Toyota Tacoma|
|Premium Compact||BMW 2-Series|
|Premium Midsize||Lexus RC|
|Premium Fullsize||Volvo V90|
|Premium Executive||Lexus LS|
|Premium Sportscar||Porsche 911|
|Premium Subcompact Utility||Audi Q3|
|Premium Compact Utility||Porsche Macan|
|Premium Midsize Utility 2nd Row Seating||Land Rover Range Rover Sport|
|Premium Midsize Utility 3rd Row Seating||Land Rover Discovery|
|Premium Fullsize Utility||Land Rover Range Rover|
|Midsize Commercial||Mercedes-Benz Metris|
|Fullsize Commercial||Mercedes-Benz Sprinter|
About ALG Founded in 1964 and headquartered in Santa Monica, California, ALG is an industry authority on automotive residual value projections in both the United States and Canada. By analyzing nearly 2,500 vehicle trims each year to assess residual value, ALG provides auto industry and financial services clients with market industry insights, residual value forecasts, consulting and vehicle portfolio management and risk services. ALG is a wholly-owned subsidiary of TrueCar, Inc.