For the second straight year, Honda is the recipient of multiple 2014 Residual Value Awards from ALG, including the top honor of Best Mainstream Brand. Additionally, the Honda Accord, Honda Odyssey, Honda Fitand, Honda CR-V each received individual Residual Value Awards as the highest ranked vehicles in their respective segments. As the leading provider of residual value information to the automotive industry, ALG's annual 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.
"Providing long-term value for our customers is a top priority at Honda," said Michael Accavitti, senior vice president of automobile operations at American Honda. "Honda's commitment to retail sales leadership through top-quality, well-equipped vehicles is a major differentiator for our brand that will pay dividends to our customers for years to come."
The Honda brand was named the Best Mainstream Brand for 2013 and now again in 2014, recognizing the entire Honda lineup for exceptional vehicle quality, strong brand desirability, and long-term reliability. The Accord ranked the highest in the ultra-competitive Midsize Car category for the second straight year. The Odyssey prevailed in the Best Minivan (MPV)category, retaining the top spot for the third consecutive year. The Fit received a Residual Value Award for the sixth consecutive year in the Sub-Compact Car category. The Honda CR-V secured the top position in the Compact Utility category. Since 2000, the Honda brand has earned 32 model awards and eight overall brand awards from ALG.
"Honda used solid fundamentals to earn its second consecutive mainstream brand award," said Eric Lyman, Vice President of Editorial for ALG. "The brand's lack of fleet, lowest-in-industry incentives and quality reputation make it a continual frontrunner in the battle for best residual values."
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.
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