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.
