ALG, a company that projects resale values for vehicles in the future, announced winners of its annual Residual Value Awards. Honda was honored as the top mainstream brand, while Mercedes-Benz was named the best premium brand. Awards will be presented to honored automakers at the Los Angeles Auto Show this week.
In addition to these top brand awards, ALG, a unit of TrueCar, Inc., also honored models in 24 segments that are likely to retain the highest percentage of their MSRP after three years. The criteria for selecting residual value awards include: evaluation of a vehicle's competition in a respective segment, historical vehicle performance, and industry trends.
In a company statement, Larry Dominique, president of ALG, noted that "Residual value is critical to automakers and consumers because it's a complete indicator of the vehicle's value, taking into account quality, durability, brand desirability and other factors." He also said that these awards give an idea of which products will best retain their value over the next 36 months.
Eight of the 24 segment residual value model awards are presented to Toyota models, including the Prius C (alternative fuel vehicle), while Honda and Audi each receive three residual value model awards at the segment level. Chevrolet wins residual value awards in two categories. This year, Audi is the only premium brand to receive multiple awards.
This year, seven models are first-time residual value winners in their segments. These models and segments include:
- Hyundai Accent (Sub-Compact Car)
- Mazda 3 (Compact Car)
- Chevrolet Corvette (Premium Sports Car)
- Chevrolet Camaro (Mainstream Sports Car)
- Toyota Avalon (Fullsize Car)
- Porsche Panamera (Premium Executive)
- Kia Soul (Subcompact Utility Vehicle)
ALG also has added five new segments this year to receive 2014 Residual Value Awards. The new categories and residual value award recipients are: