J.D. Power 2021 Canada ALG Residual Value Awards
Toyota Ranks Highest among Mainstream Brands; Lexus Ranks Highest among Premium Brands
ALG, the industry benchmark of automotive residual value projections and a division of J.D. Power, today announced the winners of the J.D. Power 2021 Canada ALG Residual Value Awards, ranking Toyota (mainstream) and Lexus (premium) as the top brands in their respective segments.
The J.D. Power Canada ALG Residual Value Awards are the automotive leasing industry standard when it comes to recognizing the vehicles segments that are projected to hold the highest percentage of the manufacturer’s suggested retail price (MSRP) after a four-year period for mainstream vehicles, and after a three-year period for premium vehicles. This is a vital consideration for car buyers when assessing the total cost of ownership for a particular vehicle whether the vehicle is financed, leased or purchased with cash. This year’s recipients have shown strong forecasted value in their competitive segments in the Canadian market for the mainstream and premium segments.
“Residual values are the backbone of the auto leasing business in Canada due to an estimated CAD$26 billion in outstanding lease portfolio risk,” said Michelle MacDonald, director of ALG industry solutions at J.D. Power. “Knowing which vehicles are predicted to hold their value and their respective rate of depreciation is paramount for manufacturers and consumers alike.”
For the 2021 award process, 272 model lines were evaluated through careful analysis by the ALG team of industry experts and ALG’s proprietary Canadian forecasting model. Eligibility for a brand award requires a manufacturer to have vehicle entries in at least four different segments. To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line.
Brand-Level Residual Value Awards
Mainstream Brand Toyota
Premium Brand Lexus
Model-Level Residual Value Awards
Electric Vehicle Porsche Taycan
Subcompact Car Kia Rio
Compact Car Toyota Corolla
Midsize Car Hyundai Sonata
Fullsize Car Toyota Avalon
Sportscar Subaru WRX
Micro Utility Vehicle Hyundai Kona
Subcompact Utility Vehicle Subaru Crosstrek
Compact Utility Vehicle Toyota RAV4
Midsize Utility Vehicle—2nd Row Seating Honda Passport
Midsize Utility Vehicle—3rd Row Seating Toyota Highlander
Fullsize Utility Vehicle GMC Yukon
Off-Road Utility Vehicle Toyota 4Runner
Midsize Pickup Toyota Tacoma
Fullsize Pickup Toyota Tundra
Fullsize Heavy Duty Pickup Chevrolet Silverado HD
Premium Compact Car BMW 2 Series
Premium Midsize Car Lexus IS
Premium Fullsize Car Genesis G80
Premium Executive Car Mercedes-Benz AMG GT 4-Door
Premium Sportscar Chevrolet Corvette
Premium Subcompact Utility Vehicle Lexus UX
Premium Compact Utility Vehicle Mercedes-Benz GLB Class
Premium Midsize Utility Vehicle—2nd Row Seating Lexus RX
Premium Midsize Utility Vehicle—3rd Row Seating Lexus GX
Premium Fullsize Utility Vehicle Lexus LX
Minivan Honda Odyssey
Midsize Commercial Van Ford Transit Connect
Fullsize Commercial Van GMC Savana
For the first time, the Canada Residual Value Awards include the fullsize heavy duty pickup segment, won by the Chevrolet Silverado HD, and the micro utility vehicle segment, won by the Hyundai Kona.
Numerous variables affect the actual residual value of a vehicle over a multi-year lease term. Examples include auction values; vehicle content; vehicle pricing; industry data; and macroeconomic factors. Since these factors contribute to a more accurate residual value forecast, vehicle shoppers are able to better understand the total cost of ownership.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
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