Vehicles predicted to command good used prices honoured
TORONTO—Two competing awards, two sets of cars, and the winners are Canadian consumers who now have plenty of information on which cars hold their value best. ALG and Canadian Black Book (CBB) both announced their 2013 winners’ lists on the eve of the Canadian International Auto Show on February 13th.
For ALG, Honda and Acura earned the awards for top Mainstream and Premium brands, respectively. Also noteworthy are the Toyota family of brands, which walked away with five segment awards and Subaru, a perennial strong performer, which netted three segment awards.
In the Canadian Black Book 2013 Retained Value awards, the biggest winner was Toyota/Lexus with eight of 19 category wins.
Canadian Black Book this year examined 2009 model year vehicles, now four years old, in nineteen categories. The awards are calculated by looking at the 1 January 2013 Canadian Black Book values and comparing them to the original MSRP of the vehicle. Prizes are awarded to those vehicles that hold the highest percentage value of the original MSRP.
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.”