Honda and Acura Rank Highest in ALG’s 5th Annual Canadian Residual Value Awards
TORONTO, Feb. 13, 2013 – Canadian International Auto Show – ALG, the industry benchmark for vehicle values and a leading provider of automotive insights, today announced the results of its 5th annual Residual Value Awards, with Honda and Acura earning the awards for top Mainstream and Premium brands, respectively. Honda returns to the top ranking among Mainstream brands after a four-year hiatus while Acura ranks highest for the first time over Infiniti, the previous recipient of the Premium Brand award for the past four years. Also noteworthy are the Toyota family of brands, which walked away with the five segment awards and Subaru, a perennial strong performer, which netted 3 segment awards.
ALG’s Residual Value Awards honour the vehicles that are forecast to retain the highest percentage of MSRP after a three-year period for luxury brands and a four-year period for mainstream brands. Award recipients are 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. Awards are given in 22 vehicle segment categories and two brand categories (Mainstream and Premium).
“For all consumers, residual value represents a complete indicator of vehicle value, taking into account quality, durability and brand desirability,” said Larry Dominique , President of ALG. “The Canadian Residual Value Awards recognize those brands and products that are using the best business practices to protect the value of their vehicles.”
Among the segment awards, the Cadillac ATS, Infiniti JX and Subaru BRZ are all-new models, each of which took top spots in their respective segments. The ATS marks the first Canadian Residual Value Award for Cadillac and only the second by a domestic automaker. In two hotly contested segments, the redesigned Honda Accord received the award in the Midsize Car segment, while the Subaru Impreza received the award in the Compact Car segment. Among Alternative Fuel vehicles, the Volkswagen Golf TDI and Audi A3 TDI were repeat winners in the Mainstream and Premium categories respectively.
“The ATS is an indicator that the Cadillac brand is headed in the right direction,” said Geoff Helby , ALG’s Regional Director for Canada. “With a well executed product and competitive pricing, the Cadillac ATS sets the bar for the brand.”
Among Mainstream brands, Subaru ranked second overall behind Honda, with Mazda rounding out the top three. Infiniti and Lexus ranked second and third respectively among the Premium brands.
Headquartered in Santa Barbara, California with office an office in Toronto, Ontario, 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.