Toyota Ranks Highest among Mainstream Brands; Lexus Ranks Highest among Premium Brands
TROY, Mich., (February 4, 2021) – ALG, the industry benchmark of automotive residual value projections and a division of J.D. Power, today announced the winners of the J.D. Power 2021 Canada ALG Residual Value Awards, ranking Toyota (mainstream) and Lexus (premium) as the top brands in their respective segments.
The J.D. Power Canada ALG Residual Value Awards are the automotive leasing industry standard when it comes to recognizing the vehicles segments that are projected to hold the highest percentage of the manufacturer’s suggested retail price (MSRP) after a four-year period for mainstream vehicles, and after a three-year period for premium vehicles. This is a vital consideration for car buyers when assessing the total cost of ownership for a particular vehicle whether the vehicle is financed, leased or purchased with cash. This year’s recipients have shown strong forecasted value in their competitive segments in the Canadian market for the mainstream and premium segments.
“Residual values are the backbone of the auto leasing business in Canada due to an estimated CAD$26 billion in outstanding lease portfolio risk,” said Michelle MacDonald, director of ALG industry solutions at J.D. Power. “Knowing which vehicles are predicted to hold their value and their respective rate of depreciation is paramount for manufacturers and consumers alike.”
For the 2021 award process, 272 model lines were evaluated through careful analysis by the ALG team of industry experts and ALG’s proprietary Canadian forecasting model. 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 2021 RVA winners:
|Electric Vehicle||Porsche Taycan|
|Subcompact Car||Kia Rio|
|Compact Car||Toyota Corolla|
|Mid-size Car||Hyundai Sonata|
|Full-size Car||Toyota Avalon|
|Micro Utility Vehicle||Hyundai Kona|
|Subcompact Utility Vehicle||Subaru Crosstrek|
|Compact Utility Vehicle||Toyota RAV4|
|Mid-size Utility Vehicle 2-Row Seating||Honda Passport|
|Mid-size Utility Vehicle 3-Row Seating||Toyota Highlander|
|Full-size Utility Vehicle||GMC Yukon|
|Off-Road Utility Vehicle||Toyota 4Runner|
|Mid-size Pickup||Toyota Tacoma|
|Full-size Pickup||Toyota Tundra|
|Full-size Heavy Duty Pickup||Chevrolet Silverado HD|
|Premium Compact Car||BMW 2 Series|
|Premium Mid-size Car||Lexus IS|
|Premium Full-size Car||Genesis G80|
|Premium Executive Car||Mercedes-Benz AMG GT 4-Door|
|Premium Sportscar||Chevrolet Corvette|
|Premium Subcompact Utility Vehicle||Lexus UX|
|Premium Compact Utility Vehicle||Mercedes-Benz GLB Class|
|Premium Mid-size Utility Vehicle 2-Row Seating||Lexus RX|
|Premium Mid-size Utility Vehicle 3-Row Seating||Lexus GX|
|Premium Full-size Utility Vehicle||Lexus LX|
|Mid-size Commercial Van||Ford Transit Connect|
|Full-size Commercial Van||GMC Savana|
For the first time, the Canada Residual Value Awards include the full-size heavy duty pickup segment, won by the Chevrolet Silverado HD, and the micro utility vehicle segment, won by the Hyundai Kona.
Numerous variables affect the actual residual value of a vehicle over a multi-year lease term. Examples include auction values; vehicle content; vehicle pricing; industry data; and macroeconomic factors. Since these factors contribute to a more accurate residual value forecast, vehicle shoppers are able to better understand the total cost of ownership.
To view the online press release, please visit http://www.jdpower.com/pr-id/2021051. J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world’s leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies. J.D. Power is headquartered in Troy, Mich., and has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business.
Media Relations Contacts Geno Effler, J.D. Power; West Coast; 714-621-6224; email@example.com Shane Smith; East Coast; 424-903-3665; firstname.lastname@example.org
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