Lexus, Honda Win Residual Value Awards

By Staff Writer November 18, 2022

The J.D. Power 2023 ALG Residual Value Awards have gained importance in today’s market for both automakers and consumers, given the recent increases in the cost of new and used vehicles. 

For a third consecutive year, Lexus receives the brand award for best premium brand. For a second consecutive year, Honda receives the brand award for best mass market brand. Kia receives the most model awards overall and is the most improved mass market brand year over year, moving up three places. Porsche is the most improved premium brand, moving up four places. 

“This year’s achievement by Kia speaks volumes about how far the brand has come,” said Eric Lyman, vice president of ALG, a division of J.D. Power. “The marketplace is acknowledging that Kia has a very strong product lineup in terms of design, quality and residual values. Kia has become a force to be reckoned with.” 

The automaker Kia received the most model awards overall. 

For model year 2023, 13 different brands received awards in 29 segments, which is six fewer brand recipients than a year ago. The 2023 award process consisted of evaluating 291 models through analysis of used-vehicle performance, brand outlook and product competitiveness. Eligibility for a brand award requires a manufacturer to have model line entries in at least four different vehicle segments. To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line. For a segment to qualify for an award, at least four different brands must be included. This year, the large car segment has only three model lines, so it does not qualify to have a segment recipient. 

Model-Level Residual Value Awards 

  • Kia: K5, Rio, Sportage, Soul and Telluride
  • Honda: Civic, Passport, HR-V and Odyssey
  • Toyota: GR Supra, 4Runner, Tacoma and Tundra
  • Land Rover: Range Rover Velar, Discovery and Range Rover Evoque
  • Chevrolet: Bolt EV and Silverado 2500 HD
  • Lexus: IS and LX
  • Mercedes-Benz: AMG GT 4-Door and Metris
  • Porsche: 911 and Macan
  • Acura: Integra
  • Audi: A6 Allroad
  • GMC: HUMMER EV Pickup 
  • Jeep: Wagoneer 
  • Subaru:  WRX 

Numerous variables affect the actual residual value of a vehicle over a multi-year lease term. Examples include mileage, quality/reliability, options and feature sets, weather and macroeconomic environment.

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Last modified on Friday, 18 November 2022 16:58