2016 Canadian Automotive Residual Value Awards
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Subaru, Land Rover earn top overall brand honours in ALG’s 8th annual Canadian Residual Value Awards
Honda and Toyota battle for the most Mainstream Segment awards
TORONTO, Ontario (February 10, 2016);ALG, the benchmark for forecasting future vehicle values, announced winners of its 8th annual Canadian Residual Value Awards, with Subaru and Land Rover taking top honours for Mainstream Brand and Premium Brand, respectively.
ALG’s Canadian Residual Value Awards (RVA) recognize vehicles in 27 segments, ranging from City Car to Fullsize Commercial Van, that are forecast to retain the highest percentage of their Manufacturer’s Suggested Retail Price (MSRP) after a four-year period for Mainstream brands and three-year period for Premium brands.
This year’s recipients were chosen from 2016 model year vehicles that have shown strong value in their competitive segments. The awards will be presented to automakers this week at the Toronto Auto Show.
“Depreciation is the single biggest cost of vehicle ownership, and informed consumers understand the importance of resale value when making their purchase decision,” said Jim Nguyen, executive vice president and general manager of ALG. “The ALG Residual Value Award is a meaningful achievement in the hyper-competitive automotive landscape. Residual values are a key indicator for the market success of a vehicle, factoring in quality, product execution and brand desirability as primary drivers of ALG’s forecast.”
Subaru repeats as the top ranking among Mainstream brands, taking home a total of three segment awards including the Subaru Outback, a perennial winner in the Midsize Utility (2 Row) segment. An all-wheel-drive strategy coupled with disciplined incentive spending continues to be the driving forces behind Subaru’s high residual values.
Land Rover’s top ranking among Premium manufacturers is its second consecutive win. Consumer demand for Land Rover products has increased following a newly expanded lineup and enhanced luxury amenities, resulting in limited incentive spending and high residual values. Land Rover models also won in two segments this year: Range Rover Sport and Discovery Sport.
Among Mainstream brands, Toyota edged out Honda with a total of five segment awards, including the Tundra pickup truck’s 7th and the Tacoma’s 6th consecutive straight RVA award. Honda received segment awards for four of its models, including the redesigned Honda Pilot in the Midsize Utility (3 Row) segment.
Other highlights include: The all-new Nissan Maxima’s top ranking in the Fullsize Car segment; the Porsche Panamera’s first award for Porsche Cars Canada in the Premium Executive Car segment; and the highly anticipated Mercedes-AMG GT S’ top ranking in the Premium Sports Car segment.
Below is the full list of 2016 RVA winners:
About ALG
Founded in 1964 and headquartered in Santa Monica, California,
with an office in Toronto, Ontario, ALG is an authority on automotive
residual value projections in North America. By analyzing nearly 2,500
vehicle trims each year to assess residual value – which is mainly
driven by used car inventory, brand strength, macroeconomic conditions,
incentive spending and pricing – ALG provides auto industry and
financial services clients with resale insights, forecasts and consulting
services about the future vehicle marketplace. ALG has been publishing
residual values for all cars, trucks and SUVs in the U.S. for over 50 years
and in Canada since 1981. For more information, visit www.alg.com.