Honda and Toyota Each Receive Five Awards for Best Resale Value
TROY, Mich.–(BUSINESS WIRE)–The J.D. Power 2020 U.S. Resale Value Awards, recognizing the best resale value across 25 model-level vehicle segments following three years of ownership, were announced today. This is the third year J.D. Power has given these awards, which are based transaction data using customer insights. Included in this list is the model with the best overall resale value, the GMC Sierra 3500.
“Our transaction database shows which models have the lowest depreciation costs, hence providing consumers with a key component in the total cost of ownership of the vehicle they plan to purchase or sell,” said Jonathan Banks, vice president & general manager of vehicle valuations at J.D. Power. “Currently, wholesale prices remain strong and we expect prices will be greater than pre-virus levels by year’s end. However, given the volatility of the market, it’s more important for consumers to factor this information into their purchase decision.”
Model-Level Resale Value Awards
Honda and Toyota receive the most model-level awards, each with five. They are followed by Lexus (four model-level awards) and Chevrolet and Dodge, each with two model-level awards. The GMC Sierra 3500 has the best resale value in the industry.
- Honda: Honda Accord; Honda Civic; Honda Fit; HR-V; and Honda Odyssey
- Toyota: Toyota 4Runner; Toyota 86; Toyota Prius v; Toyota Tacoma; and Toyota Tundra
- Lexus: Lexus GS; Lexus LX; Lexus NX; and Lexus RX
- Chevrolet: Chevrolet Corvette and Chevrolet Tahoe
- Dodge: Dodge Challenger and Dodge Charger
Other models that rank highest in their respective segments are Audi Q3, Genesis G90, GMC Sierra 3500, Infiniti Q60, Jeep Wrangler, Mercedes-Benz B–Class and Porsche Cayman.
For the 2020 award process, 270 vehicle models were evaluated using a sample of more than 592,000 transactions with an average of 2,200 data points assessed on each vehicle. The award selection process utilizes used vehicle wholesale prices, which represent how much a dealer pays for a used vehicle. These prices are then divided by the vehicle’s original purchase price. These calculations are based on wholesale records from May through September 2020 for vehicles that are three years old. For the 2020 calculation, 2017 is the applicable model year.
To view the online press release, please visit http://www.jdpower.com/pr-id/2020034.
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.
J.D. Power is headquartered in Troy, Mich., and has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.
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