Buy a new home and you can monitor its value on Zillow or Redfin. Buy stock and you can watch for any changes in its worth on the New York Stock Exchange ticker. Buy a new car and JD Power tracks its residual value.
Bottom line — and this really is all about the bottom line — If you own a Honda or Lexus, your asset is looking pretty good.
That's the conclusion of ALG, a division of JD Power, and its 2022 Residual Value Awards. In November, ALG handed out trophies to models in 29 segments, including the GMC Sierra HD as winner of ALG's first award for full-size heavy duty pickup.
Other notable winners were the Dodge Charger for full-size car and the Ford Bronco as off-road utility.
Honda won the brand award for the 10th time.
"There is only one other brand that's won our award and that's Subaru, and they have won eight times," said ALG Vice President Eric Lyman.
ALG's awards recognize vehicles projected to hold the highest percentage of their manufacturer's suggested retail price after three years of ownership. The value is a key factor in which models buyers shop for — as well as a key variable in valuing the estimated $225 billion lease portfolio of vehicles in the United States.
The residual awards judge vehicles on long-term quality and design, as well as the overall brand desirability.
"We have these three Japanese brands — Honda, Subaru and Toyota — well known for their long-term durability, quality and resale value winning the award year after year," said Lyman. "But we've seen the domestic brands and Korean brands close the gap. We've got representation from the Detroit Three automakers with Ford Bronco winning for its first year in market. Dodge Charger is the perennial winner in the full-size segment, and Chevy Tahoe winning in full-size utility."
For model year 2022, 284 vehicles were assessed in 29 segments. Eligibility for the brand award requires a manufacturer to have model entries in at least four segments.
In taking home the mass market brand bauble, Honda also won three model segments. By contrast, Lexus won best premium brand even as none of its models won a segment outright.
"The achievement of Lexus speaks to an impressive, industry-leading continuity of residual value across its entire lineup," Lyman said. "It's like a decathlete who doesn't have to win any of the individual 10 events but scores enough points in each of them to stand atop the podium."
Honda and Hyundai share the most model-level awards, with three each. Audi, Kia, Land Rover, Mercedes-Benz, Subaru and Toyota had winners in two categories.
In addition to Bronco and Sierra, notable winners were the Mercedes-Benz AMG GT sedan topping longtime Premium Executive segment champ Lexus LS. In the emerging electric vehicle market, the Kona EV won for best mass market EV, while the Tesla Model Y won the premium EV segment.
Full list of model winners:
Compact Utility: Subaru Forester
Full-size Utility: Chevy Tahoe
Micro Utility: Hyundai Kona
Midsize 2-Row: Honda Passport
Midsize 3-Row: Kia Telluride
Off-Road Utility: Ford Bronco
Premium Full-size Utility: Jeep Grand Wagoneer
Premium Midsize 2-Row: Range Rover Velar
Premium Midsize 3-Row: Land Rover Discovery
Premium Subcompact Utility: Audi Q3
Subcompact Utility: Mazda CX-30
Mass Market Electric: Hyundai Kona EV
Premium Electric: Tesla Model Y
Fullsize HD Pickup: GMC Sierra HD
Full-size Pickup: Toyota Tundra
Midsize Pickup: Toyota Tacoma
Commercial Van: Mercedes Metris
Minivan: Honda Odyssey
Compact Car: Honda Civic
Full-size: Dodge Charger
Midsize: Kia K5
Premium Compact: BMW 2-series
Premium Executive: Mercedes-AMG GT 4-door
Premium Full-size: Audi Allroad
Premium Midsize: Genesis G70
Premium Sportscar: Porsche 911
Sportscar: Subaru WRX
Subcompact: Hyundai Accent
