Toyota and Lexus Win Overall Brand Honors in 4th Annual 2020 ALG Pre-Owned Value Awards
ALG recognizes pre-owned vehicles predicted to retain the highest value; Toyota leads the pack with six vehicle segment awards
- Toyota achieves the top spot in the Mainstream Brand category and Lexus wins the top spot in the Luxury Brand category.
- Toyota earns the most segment awards with six category wins.
- For the first time, ALG introduced new category this year: Premium Subcompact Utility. Audi took top honors in the category with the Audi Q3.
- The Pre-Owned Value Awards are presented to the winners at Used Car Week on
November 11, 2019.
SANTA MONICA, Calif.,
“Toyota and Lexus were early champions of the Certified Pre-Owned (CPO) marketplace, which combined with their reputation for durability and quality, lands them the 2020 Brand Awards for Pre-Owned Value,” said Eric Lyman, Chief Industry Analyst, ALG.
The 2020 POVAs are awarded to vehicles with the lowest forecasted depreciation from two years of age to five years of age, during the period 2019-2022. Vehicle segmentation is based on ALG’s proprietary automotive segmentation, which takes into account information such as vehicle size, transaction price, and cross-shop information. The awards will be presented to automakers on
“CPO vehicles are a key contributor to franchise dealer profitability and have become an indispensable tool for automakers to manage off-lease volume,” continued Lyman. “As CPO vehicles have continued to maintain a rise in popularity and volume, ALG’s Pre-Owned Value Awards help consumers zero in on desirable late model used vehicles that hold their value the most over the next three years.”
Toyota is the Mainstream Brand leader with six segment awards, including the Sequoia, Camry, Tacoma, Highlander, Sienna and 4Runner. This is Toyota’s third time winning in POVA’s overall Mainstream Brand category.
Mercedes leads as the front-runner in the Premium category with four awards in the Electric, Midsize Commercial, Premium Compact and Premium Executive categories.
For the first time, ALG introduced the Premium Subcompact Utility category to this year’s awards. Audi took top honors in the new category with the Audi Q3.
The Nissan GT-R continued its dominance in the Premium Performance category winning the POVA for the fourth year in a row.
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 POVA winners:
|Compact Utility||Jeep Compass|
|Fullsize Commercial||Ram ProMaster|
|Fullsize Pickup||GMC Sierra 1500|
|Fullsize Utility||Toyota Sequoia|
|Midsize Commercial||Mercedes-Benz Metris|
|Midsize Pickup||Toyota Tacoma|
|Midsize Utility 2nd Row Seating||Subaru Outback|
|Midsize Utility 3rd Row Seating||Toyota Highlander|
|Off-Road Utility||Toyota 4Runner|
|Premium Subcompact Utility||Audi Q3|
|Premium Compact||Mercedes-Benz CLA-Class|
|Premium Compact Utility||Land Rover Discovery Sport|
|Premium Executive||Mercedes-Benz S-Class|
|Premium Fullsize||Cadillac CT6|
|Premium Fullsize Utility||Cadillac Escalade|
|Premium Midsize||Infiniti Q50|
|Premium Midsize Utility 2nd Row Seating||Lexus RX|
|Premium Midsize Utility 3rd Row Seating||Lexus GX|
|Premium Sportscar||Nissan GT-R|
|Subcompact Utility||Honda HR-V|
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
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/44f53f13-2b02-4364-bedb-1e193f8d1eaf
Source: TrueCar, Inc.