All of us at Land Rover Austin are overjoyed with the fact that ALG, the benchmark for forecasting future vehicle values, announced the winners of its 15th annual Residual Value Awards, with Land Rover taking top honors for Premium Brand and Mainstream Brand!
The award was presented last month at the Los Angeles Auto Show during ALG’s Residual Value Awards, and recognized vehicles in 26 segments that are forecast to retain the highest percentage of their Manufacturer’s Suggested Retail Price (MSRP) after a three-year period.
“Residual value is important for automakers and consumers because it’s a complete indicator of the vehicle’s future value, accounting for quality, durability and brand desirability among other factors,” said Larry Dominique, president of ALG and executive vice president of TrueCar.
Forecasts of residual values are also important because they are the basis for many lease programs. Financing companies that write leases use those forecasts to determine how much of a vehicle’s value has to be paid for over the month of a lease.
“Even in a robust automotive industry, where competition is fierce, we’ve seen automakers keep incentive spending down, which helps maintain high residual values,” said Dominique. “That benefits consumers and businesses, helping their vehicles retain strong values and leading to lower overall costs of ownership.”
Models such as the Range Rover Sport have been on the dealer lot for only an average of 13 days, versus the industry average of 65 days.
Clearly it is no wonder why our vehicles are ranked among the best in the industry, so why not come see us here at Land Rover Austin to take a test climb in the SUV of your choice, and soon you will find out for yourself the true meaning of the word luxury, and value.