"Hyundai's ascent as a brand is nothing short of impressive," said Larry Dominique, president of ALG in a press release. "Since 2007, when the brand ranked in the bottom quartile for residual value, Hyundai has delivered well-executed product, and has kept incentives and fleet – two elements that can quickly damage residual value – in check. And, as demonstrated by the redesigned Santa Fe Sport, they continue to deliver."
ALG also looked at residual values within specific segments. Among sub compact cars, the Honda Fit retains the most residual value on average. Honda Accord (pictured) was tops in midsize cars and the Odyssey among minivans. Compact car goes to Hyundai's Elantra and fullsize car to that company's Azera. The Koreans also excelled with the Santa Fe Sport in the midsize utility vehicle category.
Toyota products show up nine times in the segments with the Prius C taking alt-fuel vehicle, Scion FR-S in sports car, the FJ Cruiser among compact utility vehicles and Sequoia best among full size utilities. Toyotas beat out the domestics in pickup trucks, too, with the Tacoma taking midsize category and Tundra the full size division. The Land Cruiser kept the most residual value when compared to other premium full size utility vehicles and premium cars from Lexus took the full size ( GS 350) and executive ( LS 460) categories.
You can see the full lists and press release below.
Related Gallery 2013 Honda Accord Sport: First Drive
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Honda and Acura Rank Highest in ALG's 14th Annual Residual Value Awards
- Toyota family of brands takes home nine awards;
- Hyundai nets 3 awards, lands second among mainstream brands
ALG's Residual Value Awards honor the vehicles in each segment that are forecast to retain the highest percentage of MSRP after a three-year period. Award recipients were chosen after a careful evaluation of vehicle criteria, including segment competition, historical vehicle performance and industry trends. This year's awards are based on 2013 model year vehicles.
"Residual value is a complete indicator of vehicle value, taking into account quality, durability and brand desirability," said Larry Dominique, President of ALG. "The Residual Value Awards measure the most important brand performance metric – the statement consumers make with their wallets when they purchase a vehicle."
In two of the most hotly contested segments, Midsize and Compact Car, the Honda Accord and Hyundai Elantra ranked highest respectively. In the Midsize Car segment, the Subaru Legacy was second and the redesigned Nissan Altima third. In the Compact Car segment, the Scion TC and Mazda3 rounded out the top three.
Among Mainstream brands, Hyundai ranked second overall behind Honda. Scion, part of the Residual Value Award rankings for the first time, ranked third. Infiniti and Audi ranked second and third respectively among Premium brands. Lexus, last year's highest ranked brand, is now fourth.
"Hyundai's ascent as a brand is nothing short of impressive," said Dominique. "Since 2007, when the brand ranked in the bottom quartile for Residual Value, Hyundai has delivered well-executed product, and has kept incentives and fleet – two elements that can quickly damage residual value – in check. And, as demonstrated by the redesigned Santa Fe Sport, they continue to deliver."
Among Premium brands, Lexus took home segment awards for the redesigned GS and LS models (Premium Fullsize Car, Premium Executive Car respectively) while MINI received awards for the Cooper (Premium Compact Car) and Cooper Countryman (Sub Compact Utility Vehicle).
In the Alternative Fuel segments, the Toyota Prius c and Mercedes-Benz ML350 BlueTEC received awards.
Based in Santa Barbara, California, ALG is a leading provider of insights and consulting services to the automotive industry. ALG publishes the Residual Value Guidebook – the benchmark for residual value projections in North America, and has been forecasting automotive residual values for nearly 50 years in both the U.S. and Canadian markets. For more information, visit www.alg.com.
Segment Awards
- Sub Compact Car - Honda Fit
- Compact Car - Hyundai Elantra
- Midsize Car - Honda Accord
- Fullsize Car - Hyundai Azera
- Sports Car - Scion FR-S
- Alt-Fuel Vehicle - Toyota Prius c
- Minivan - Honda Odyssey
- Sub Compact Utility Vehicle - MINI Cooper Countryman
- Compact Utility Vehicle - Toyota FJ Cruiser
- Midsize Utility Vehicle - Hyundai Santa Fe Sport
- Fullsize Utility Vehicle - Toyota Sequoia
- Midsize Pickup - Toyota Tacoma
- Fullsize Pickup - Toyota Tundra
- Premium Compact Car - MINI Cooper
- Premium Midsize Car - Mercedes-Benz C-Class
- Premium Fullsize Car - Lexus GS 350
- Premium Executive - Lexus LS 460
- Premium Sports Car - Porsche 911 Carrera
- Premium Alt-Fuel Vehicle - Mercedes-Benz ML350 BlueTEC
- Premium Compact Utility Vehicle - Acura RDX
- Premium Midsize Utility Vehicle - Audi Q7
- Premium Fullsize Utility Vehicle - Toyota Land Cruiser
- Honda
- Hyundai
- Scion
- Subaru
- Mazda
- Toyota
- Nissan
- Kia
- Volkswagen
- Mitsubishi
- Ford
- Dodge
- Buick
- GMC
- Chevrolet
Premium Brand Rankings
- Acura
- Infiniti
- Audi
- Lexus
- Mercedes-Benz
- BMW
- Cadillac
- Porsche
- Volvo
- Lincoln
News Source: ALG
Image Credit: Copyright 2012 AOL
Category: Car Buying, Acura, Chevrolet, Honda, Hyundai, Lexus, Lincoln, Mercedes-Benz, Nissan, Scion, Subaru, Toyota
Tags: alg, residual value awards, residual values
