TORRANCE, Calif., Nov. 17, 2014 - - They say it’s lonely at the top. For Toyota, it’s never lonely when you are joined by a large group of family members. Toyota once again dominated the annual ALG Residual Value Awards with six models capturing the top spot in their respective segments and a seventh award going to Toyota as the top Mainstream Brand. The Residual Value Awards from ALG represent the industry benchmark for residual values and depreciation data.
"Toyota's truck lineup has traditionally had incredible retention, especially with its competitive pricing," said Larry Dominique, President of ALG. "This year is particularly strong for its car lineup, as well, with a fresh array of sedans led by the best-selling Camry."
The annual ALG Residual Value Awards recognize automakers’ outstanding achievements for vehicles that are predicted to retain the highest percentage of their original price after a conventional three-year period. Awards are given in 24 vehicle categories and also for the two brands with the highest overall predicted residual values among all mainstream and all premium vehicles.
The six model-level awards were more than any other auto brand. Toyota models taking home awards included:
- Prius v – Alternative Fuel Vehicle
- Highlander – Midsize Utility Vehicle - 3-Row
- 4Runner – Off Road Utility Vehicle
- Tacoma – Midsize Pickup
- Tundra – Fullsize Pickup
- Land Cruiser – Premium Fullsize Utility Vehicle
Award winners are determined through careful study of the competition in each segment, historical vehicle performance and industry trends. Vehicle quality, production levels relative to demand, and pricing and marketing strategies represent key factors that impact ALG’s residual value forecasts.
Toyota, the world's top automaker and creator of the Prius, is committed to building vehicles for the way people live through our Toyota, Lexus and Scion brands. Over the past 50 years, we’ve built more than 25 million cars and trucks in North America, where we operate 14 manufacturing plants and directly employ more than 40,000 people. Our 1,800 North American dealerships sold more than 2.5 million cars and trucks in 2013 – and about 80 percent of all Toyota vehicles sold over the past 20 years are still on the road today. For more information about Toyota, visit www.toyota.com/usa
Founded in 1964 and headquartered in Santa Barbara, California, with an office in Toronto, Ontario, ALG is an authority on automotive residual value projections in North America. By analyzing nearly 2,500 vehicle trims each year to assess residual value - which is mainly driven by used car inventory, brand strength, macroeconomic conditions, incentive spending and pricing - ALG provides auto industry and financial services clients with resale insights, forecasts and consulting services about the future vehicle marketplace. ALG, owned by TrueCar, Inc., the negotiation-free car buying and selling platform, has been publishing residual values for all cars, trucks and SUVs in the U.S. for 50 years and in Canada since 1981. The 2015 Residual Value Awards, honoring new vehicles projected to best maintain their value, will be announced Nov. 17. For more information, visit www.alg.com
TrueCar, Inc. (NASDAQ: TRUE) is the negotiation-free car buying and selling platform. TrueCar enables a negotiation-free car buying experience by giving buyers transparent insight into what others actually paid (price confidence), upfront pricing information (price discovery), and access to a network of trusted TrueCar Certified Dealers who provide guaranteed savings certificates and seamlessly complete the car purchase. The reality is that buying a car is painful and buyers fear they are going to overpay or be surprised with hidden fees. TrueCar's transparent upfront pricing information makes the car buying process simple so there are no surprises and buyers never overpay. TrueCar's mission is to make car buying simple, fair and fun. Its national network of more than 9,000 TrueCar Certified Dealers, including both new car franchise dealers and non-franchise dealers, is committed to providing negotiation-free savings off MSRP and upfront pricing information for all car-buyers, including members of some of the country's largest membership and service organizations such as AARP, American Express, AAA, and USAA. Note: Not all program features are available in all states. Go to www.truecar.com
for program details. TrueCar is headquartered in Santa Monica, Calif., with offices in Santa Barbara, Calif., San Francisco, Calif., and Austin, Texas.