Thursday, February 22, 2024
News Toyota and Lexus Top the JD Power Canada ALG Residual Value Rankings...

Toyota and Lexus Top the JD Power Canada ALG Residual Value Rankings for Fourth Year in a Row

Here are the models that are expected to best keep their value, according to JD Power.

  • This ranking gives awards to brands and individual models.

  • Toyota has been the best-ranked mainstream brand for five years while Lexus has been the best-ranked premium make for four years.

  • Residual value is projected after four years for mass-market models and three years for premium ones.

JD Power Canada ALG has announced the winners of its 2024 residual value rankings, a list that shows no big surprises.

Indeed, most vehicles highlighted by this study were also present on the list last year, and many more years for some.

As for the past five years in a row, Toyota has been selected as the top brand in the mass-market segment, where the residual value is projected over four years, owing to nine of its models making it to the top of their category.

Lexus, Toyota’s luxury brand, occupies the top of the list for premium automakers, as it has done for the past four years. In this segment, residual value is calculated over three years since buyers of premium vehicles don’t tend to keep their cars as long as mainstream buyers do.

2022 Lexus IS 500 F SPORT Performance | Photo: Lexus

As mentioned before, some models are regulars of the residual value rankings, such as the Toyota Tundra which has been the best-ranking large light-duty pickup since the first ranking was published in 2009 or the Subaru WRX, which has stood at the top of the sporty car category for nine years now.

According to JD Power Canada ALG, consistency in quality and pricing is the key to maintaining a good residual value in the automotive industry, something it says Toyota, Lexus, and General Motors do quite well.

Speaking of the largest American automaker, GM saw four of its models make it to the top of their respective categories, namely the Chevrolet Corvette, the Cadillac Lyriq, the Chevrolet Silverado 3500 HD, and the GMC Savanna.

To determine which vehicles are likely to retain the highest proportion of their original MSRP after three or four years, JD Power Canada ALG looks at factors such as reliability, build quality, fuel consumption, options and equipment, as well as general tendencies in the industry and the economy.

2024 Subaru WRX RS | Photo: Subaru

With that said, here is a list of every winner in the 28 categories starting with sedans and coupes:

  • Compact Car: Toyota Corolla
  • Compact Premium Car: Lexus IS
  • Compact Premium Sporty Car: Nissan Z
  • Sporty Car: Subaru WRX
  • Small Premium Car: Audi A3
  • Midsize Car: Toyota Camry
  • Midsize Premium Car: BMW 5 Series
  • Midsize Premium Sporty Car: Chevrolet Corvette
  • Large Premium Car: Mercedes-AMG GT 4-Door Coupe

Acura MDX Platinum Elite 2023 | Photo: Germain Goyer
Acura MDX Platinum Elite 2023 | Photo: Germain Goyer

Here are the rankings for SUVS:

  • Micro SUV: Hyundai Kona
  • Small SUV: Subaru Crosstrek
  • Small Premium SUV: Audi Q3
  • Compact SUV: Toyota RAV4
  • Compact Premium SUV: Mercedes-Benz GLB
  • Midsize 2-Row SUV: Honda Passport
  • Midsize Premium 2-Row SUV: Range Rover Velar
  • Midsize 3-Row SUV: Toyota Grand Highlander
  • Midsize Premium 3-Row SUV: Acura MDX
  • Large SUV: Toyota Sequoia
  • Large Premium SUV: Lexus LX
  • Off-Road Utility Vehicle: Toyota 4Runner

2023 Cadillac Lyriq
2023 Cadillac Lyriq

Finally, here is the list for EVs, pickups, and vans:

  • Mass-Market Electric Vehicle: Ford F-150 Lightning
  • Premium Electric Vehicle: Cadillac Lyriq
  • Midsize Pickup: Toyota Tacoma
  • Large Light-Duty Pickup: Toyota Tundra
  • Large Heavy-Duty Pickup: Chevrolet Silverado 3500 HD
  • Minivan: Toyota Sienna
  • Commercial Van: GMC Savanna

2024 Toyota Tundra CrewMax Limited
2024 Toyota Tundra CrewMax Limited

Interestingly, the same rankings done by JD Power in the United States reveal a surprising number of differences between the two North American markets.

Indeed, in the US rankings, the Honda Civic beats the Toyota Corolla, the Toyota GR Supra beats the Nissan Z, the Acura Integra beats the Audi A3, the Honda Accord beats the Toyota Camry, and the Jaguar XF beats the BMW 5 Series in the sedan and coupe categories.

Moving to the SUVs, the Chevrolet Trax beats the Hyundai Kona, The Range Rover Evoque beats the Audi Q3, the Honda CR-V beats the Toyota RAV4, the Lexus NX beats the Mercedes-Benz GLB, the Lexus RX beats the Range Rover Velar, the Kia Telluride beats the Toyota Grand Highlander, the Land Rover Discovery beats the Acura MDX, the Jeep Wagoneer beats the Toyota Sequoia, and the Jeep Wrangler beats the Toyota 4Runner.

Finally, the Tesla Model Y beats the Cadillac Lyriq, the GMC Sierra 3500 HD beats its twin, the Chevrolet Silverado 3500 HD, and the Ram ProMaster beats the GMC Savanna.

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