Land Rover forecasted top Luxury Brand in ALG Residual Value Awards
Demand outstripping supply on the pre-owned market ups resale values
Everyone in business understands that saving money is just as important as increasing revenue, with real earnings, or profits found in between. No wonder business leaders love Land Rover.
ALG, an analytics subsidiary of TrueCar, recently named Land Rover with top Overall Brand Honours in ALG’s 9th Annual Canadian Residual Value Awards (RVA) within the Premium Brand sector.
“Residual values are a key indicator of the overall market success and health of a vehicle and brand. Whether a consumer is looking to purchase or lease a vehicle, the largest cost consideration is how much a vehicle will retain its value over time,” said Jim Nguyen, president of ALG. “And with vehicle leasing on the rise, resale values have never been more important to both consumers and automakers.”
The RVA forecasts brands and models that will most likely retain highest average values when compared to their original Manufacturer’s Suggested Retail Price (MSRP) after three years.
Land Rover on top for three consecutive years
This was the third consecutive year Land Rover placed first amongst premium brands. As it is, demand for pre-owned Land Rovers outstrips supply, which naturally results in higher transaction prices.
Land Rover was honoured in three premium classes, with the Range Rover Sport winning the “Premium Midsize Utility Vehicle – 2 Row” segment outright and the compact Discovery Sport and full-size Range Rover recognized within their respective categories.
The 2017 recipients were presented their awards at the Canadian International Auto Show in Toronto last week.
Canadian Black Book recognizes Land Rover Range Rover
On another note, Canadian Black Book recognized Land Rover’s Range Rover for its strong resale performance within the “Full-Size Luxury SUV” category in the third-party analytical firm’s 2017 Best Retained Value Awards program.
These awards are given to vehicles after four years of study, in which CBB claims their analysts scour “hundreds of thousands of sales transactions and other data points from live auctions, online auctions, dealership and other proprietary sources.” Prizes get awarded to vehicles that maintain the highest percentage value when compared against their original Manufacturer Suggested Retail Price (MSRP).
Both the CBB and ALG awards put Land Rover in a very good light when it comes to long-term retained value, making the brand a smart choice as well as an aspirational one.
Story credits: Trevor Hofmann, Canadian Auto Press
Photo credits: Karen Tuggay, Canadian Auto Press
Copyright: Canadian Auto Press Inc.
Date Posted: June 6, 2017