Toyota is still king when it comes to strong resale value. Kelly Blue Book gave the title of Best Resale Value to Toyota the 2013 model year while Lexus, the luxury division of Toyota, earned the top spot in the luxury category. This is the second straight year that the two brands won.
These awards, which are included in KBB’s 2013 Residual Analysis Report, are the brands that are expected to keep their value the best after being owned for five years. Both brands also received the awards in 2010.
Eric Ibara, director of residual consulting for Kelley Blue Book, said that the past two years for Toyota were difficult but it has recovered and never lost its “competitive spirit.”
Ibara added that even as Toyota struggled from a massive recall due to unintended acceleration issues and the supply interruption from the natural disaster in 2011, the brand was able to keep residual value levels consistent with its historical averages.
Toyota was able to get back the market share lost to rivals during this period. He added that this is why Toyota’s accomplishment to remain Best Resale Value:
Brand for two consecutive years is even more impressive. KKB said that Toyota’s resale value rose by 3% since the previous year due to the FJ Cruiser and Tacoma, as well an an 8% climb for the Avalon. The FJ has the best resale value of any vehicle, being rated at 63% of its original value after five years. Tacoma takes second place at 57%.
“We are thrilled that KBB.com has selected Toyota for its Best Resale Value Brand award, and we appreciate Kelley Blue Book’s efforts to help increase consumer awareness as to the importance of resale value when purchasing a car“, said Bill Fay, Group Vice President and General Manager of Toyota division.
Toyota revealed that for the 2013 model year of the Avalon, it made some changes to the blueprint. The reason being that the brand wanted a new sedan that was both persuasive and effective. The brand also wanted a model that would appeal to a new generation and at the same time represent the new design and what direction its future sedans will take.
According to Toyota, the 2013 Avalon will have a style that shows passion mixed in with innovation. Further, it is expected to bring the level of craftsmanship to a whole new level. With this latest offering, the brand hopes that its flagship sedan will be able to go head-to-head with other models in the premium mid-size class, a segment that is highly competitive.
In a statement, Group Vice President and General Manager Toyota Division Bill Fay said that this model shows that the brand remains to have the car-building expertise it is known for. This model, he adds, also brings the Avalon badge to new levels when it comes to refinement, excitement, and dynamic capability. Avalon Chief Engineer Randy Stephens meanwhile said that the main goal of the 2013 Avalon is to reveal to customers that Toyota is indeed back.
With a new style, equipped with the best and highest levels of technologies, and excellent handling, he continued, the 2013 Avalon is expected to take the lead in its segment. In developing the new Avalon, the brand made use of the engineering knowledge of those at Toyota Technical Center-Ann Arbor, or TTC-AA. The design knowhow of those in Calty Design Research, both for Ann Arbor, Michigan, and Newport Beach, California, contributed greatly as well. The result is a world-class sedan that makes a strong statement and utilizes the brand’s top car-building in-market resources.