- Toyota achieves the top spot in the Mainstream Brand category, Porsche wins the top spot in the Luxury Brand segment.
- Toyota earns the most awards with six segment wins.
- For the first time this year, ALG introduces the Premium Subcompact Utility segment. Lexus took top honors in the segment with the Lexus UX.
- The 2020 Canadian Residual Value Awards were given to the winners ahead of the Montreal Auto Show during the week of January 13, 2020.
SANTA MONICA, Calif., Jan. 16, 2020 — ALG, the benchmark for forecasting future vehicle values, and the analytics subsidiary of TrueCar, Inc. (NASDAQ: TRUE) today announced the winners of ALG’s 2020 Canadian Residual Value Awards (RVA), ranking Toyota and Porsche as the top Mainstream Brand and Premium Brand, respectively.
The prestigious ALG Residual Value Awards recognize vehicles in 27 segments that are projected to hold the highest percentage of their Manufacturer’s Suggested Retail Price (MSRP) after a three-year period for premium vehicles, and after a four-year period for mainstream vehicles – an important consideration for car buyers when assessing the total cost of ownership for a particular vehicle. This year’s recipients have shown strong value in their competitive segments and were chosen from all 2020 model year vehicles on sale in the Canadian market in the Premium and Mainstream segments. The awards were given to the winners this week ahead of the Montreal Auto Show.
“Residual values are important to both automotive brands and consumers alike,” said Michelle MacDonald, Senior Manager, Industry Solutions at ALG, a subsidiary of TrueCar. “For automotive brands, a strong residual value is a barometer of a brand’s overall health and appeal in the marketplace. For consumers, since a vehicle’s depreciation is the single costliest aspect of car ownership, a strong residual value is an indicator of how well that vehicle will hold its value for future resale consideration.”
Toyota leads with the most segment wins in the Mainstream Brand category, taking home six trophies for the Compact Utility segment, Fullsize Pickup segment, the Fullsize Utility segment, the Midsize Pickup segment, the Midsize Utility 3rd Row Seating segment and the Off-Road Utility segment.
For the first time, ALG introduces the Premium Subcompact Utility category to this year’s Residual Value Awards, with Lexus taking top honors in the new category with the Lexus UX.
Porsche took the top spots in the Premium Compact segment for the Porsche Macan and in the Premium Sportscar segment with the Porsche 911.
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 2020 ALG Canadian Residual Value Awards winners:
|Electric Car||Audi E-Tron|
|Subcompact Car||Honda Fit|
|Compact Car||Subaru Impreza|
|Midsize Car||Honda Accord|
|Fullsize Car||Nissan Maxima|
|Sportscar Car||Subaru WRX|
|Subcompact Utility||Subaru Crosstrek|
|Compact Utility||Toyota RAV4|
|Midsize Utility 2nd Row Seating||Honda Passport|
|Midsize Utility 3rd Row Seating||Toyota Highlander|
|Fullsize Utility||Toyota Sequoia|
|Off-Road Utility||Toyota 4Runner|
|Fullsize Pickup||Toyota Tundra|
|Midsize Pickup||Toyota Tacoma|
|Premium Compact Car||Mercedes-Benz A-Class|
|Premium Midsize Car||Audi A5|
|Premium Fullsize Car||Mercedes-Benz CLS-Class|
|Premium Executive Car||Mercedes-Benz S-Class|
|Premium Sportscar Car||Porsche 911|
|Premium Sub Compact Utility||Lexus UX|
|Premium Compact Utility||Porsche Macan|
|Premium Midsize Utility 2nd Row Seating||Land Rover Range Rover Sport|
|Premium Midsize Utility 3rd Row Seating||Land Rover Discovery|
|Premium Fullsize Utility||BMW X7 Series|
|Midsize Commercial||Mercedes-Benz Metris|
|Fullsize Commercial||Mercedes-Benz Sprinter|
Founded in 1964 and headquartered in Santa Monica, California, ALG is an industry authority on automotive residual value projections in both the United States and Canada. By analyzing nearly 2,500 vehicle trims each year to assess residual value, ALG provides auto industry and financial services clients with market industry insights, residual value forecasts, consulting and vehicle portfolio management and risk services. ALG is a wholly-owned subsidiary of TrueCar, Inc., a digital automotive marketplace that provides comprehensive pricing transparency about what other people paid for their cars. ALG has been publishing residual values for all cars, trucks and SUVs in the U.S. for over 55 years and in Canada since 1981.
TrueCar, Inc. (NASDAQ: TRUE) is a digital automotive marketplace that provides comprehensive pricing transparency about what other people paid for their cars and enables consumers to engage with TrueCar Certified Dealers who are committed to providing a superior purchase experience. TrueCar operates its own branded site and its nationwide network of more than 16,500 Certified Dealers, and also powers car-buying programs for some of the largest U.S. membership and service organizations, including USAA, AARP, American Express, AAA and Sam’s Club. Nearly half of all new car buyers engage with the TrueCar network during their purchasing process. TrueCar is headquartered in Santa Monica, California, with an office in Austin, Texas.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/df00de4f-ea9c-4649-a070-556c814b73d4
For more information, please visit www.truecar.com, and follow us on Facebook or Twitter. TrueCar media line: +1-844-469-8442 (US toll-free) | Email: [email protected] PR Contact Shadee Malekafzali 424-258-8694 [email protected]