Land Rover, Toyota top 2014 ALG Residual Value Awards

Article by Christian Andrei, on November 19, 2014

Land Rover and Toyota were the top brands offering vehicles expected to retain highest level of their value – called residual value -- after three years, according to the latest edition of the annual ALG Residual Value Awards. Land Rover and Toyota topped the premium and mainstream brand categories, respectively.

This year’s edition, which ranked MY2015 vehicles, included midsize and full-size commercial vans covered by the awards, bringing the total segments vying for the accolades to 26. ALG said in a statement that awards recipients were chosen based on the vehicles’ strong value within their segments.

Larry Dominique, president of ALG and executive vice president of sister company TrueCar, said in the statement that residual value is important for carmakers and consumers alike since it indicate a vehicle’s future value – based on the quality, durability and brand desirability as well as other factors.

Residual values forecasts are also important since they serve as basis for many lease programs, as financing companies that write leases use them to determine how much of a vehicle’s value has to be paid for over the month of a lease.

According to the statement, Land Rover lorded over the premium classification due as it has “having consistently delivered a stream of hot, new vehicles for which customer demand far outweighs supply.” Dominique noted that Land Rover models like the Range Rover Sport only last on dealers’ lots for an average of 13 days, in contrast to the industry average of 65 days.

Toyota dethroned Honda in the mainstream category, after winning five segment awards. The Toyota Prius V wagon won ALG’s alternative-fuel category while the Toyota Tacoma pickup truck was picked as the RVA winner, its 14th in a row.

Other Toyota vehicles winning segment awards are the Toyota Tundra, the Lexus IS, Lexus GX and Toyota Land Cruiser also received honors. Winning carmakers will receive the awards at the Los Angeles Auto Show this week. Last year’s winners were Mercedes-Benz and Honda.

Topics: land rover, toyota, award

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Volkswagen Group’s dieselgate saga continues, but it appears the German company would be able to get out of trouble, but it would not be unscathed. This development comes as Volkswagen...
by - January 22, 2017
When a car has been in the market for nearly six years, it loses some of its luster and its customers tend to go for the all-new model with a...
by - January 22, 2017
Remember Zenos Cars, a British carmaker that specializes in designing and building lightweight and high-performance sports cars? If you are wondering how the company is faring with their E10 lightweight...
by - January 21, 2017
Mercedes-Benz has revealed that in 2017, its series 124 coupé will be celebrating its 30th anniversary. While this itself is a significant event, it will also mean that this model...
by - January 21, 2017
BMW’s 550i xDrive has long been considered as one of the most successful business sedans in the world. For the brand, this may not be enough as it has officially...
by - January 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries