ALG recognizes pre-owned vehicles predicted to bring the highest average residual value; Mercedes and Nissan win in three vehicle segment awards
SANTA MONICA, Calif., (November 12, 2018) – ALG, the benchmark for forecasting future vehicle values and the analytics subsidiary of TrueCar, Inc. (NASDAQ: TRUE) today announced the winners of the 2019 Pre-Owned Value Awards (POVA), ranking Subaru and Jaguar as the top Mainstream Brand and Premium Brand across the board.
The 2019 POVAs are awarded to vehicles with the lowest forecasted depreciation from two years of age to five years of age, during the period 2018-2021. Vehicle segmentation is based on ALG's proprietary automotive segmentation, which takes into account information such as vehicle size, transaction price, and cross-shop information. The awards will be highlighted at Used Car Week.
"With both Certified Pre-Owned (CPO) sales and used vehicle values transacting near record highs, the importance of retained value among used vehicle shoppers is more important than ever," said Eric Lyman, SVP of ALG.
"New vehicle transaction prices and rising interest rates are making late model CPO vehicles a more attractive option for traditional new car buyers. ALG's Pre-Owned Value Award measures depreciation and resale value, two leading drivers of purchase consideration in the new vehicle market, and applies them to used vehicles, creating a beacon for value-oriented buyers," continued Lyman.
Nissan leads with three vehicle segment awards for the first time, unseating Toyota with the GT-R, Quest and Altima in the Premium Sportscar, Minivan and Midsize segments.
Although unseated as the overall Premium Brand winner by Jaguar, Mercedes boasts three awards in the Midsize Commercial, Fullsize Commercial and Premium Midsize segments.
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 2019 POVA winners:
|Compact Utility||Subaru Forester|
|Fullsize Commercial||Mercedes-Benz Sprinter|
|Fullsize Pickup||GMC Sierra 1500|
|Fullsize Utility||Chevrolet Suburban|
|Midsize Commercial||Mercedes-Benz Metris|
|Midsize Pickup||Toyota Tacoma|
|Midsize Utility 2nd Row Seating||Subaru Outback|
|Midsize Utility 3rd Row Seating||Toyota Highlander|
|Off-Road Utility||Jeep Wrangler|
|Premium Compact||BMW 2 Series|
|Premium Compact Utility||Land Rover Ranger Rover Evoque|
|Premium Executive||BMW 7 Series|
|Premium Fullsize||Hyundai Genesis|
|Premium Fullsize Utility||Lexus LX|
|Premium Midsize||Mercedes-Benz C-Class|
|Premium Midsize Utility 2nd Row Seating||Infiniti QX70|
|Premium Midsize Utility 3rd Row Seating||Acura MDX|
|Premium Sportscar||Nissan GT-R|
|Subcompact Utility||Honda HR-V|