ALG, the division of J.D. Power known as the industry benchmark of automotive residual value projections, today the recipients of the J.D. Power 2022 Canada ALG Residual Value Awards, highlighted by Toyota Canada Inc. and GM Canada taking home the most segment awards. Toyota (mass market) and Lexus (premium) won awards for top brands in their respective segments.
“There’s not much brand diversity in the winners for 2022, meaning that the few brands at the top have found their niche—especially Toyota with its continued dominance in the utility and pickup segments,” said Eric Lyman, vice-president of ALG. “Noteworthy is Chevrolet’s success across a variety of key segments — EV, full-size heavy duty pickups and performance sportscar — that showcase the brand’s enviable product diversity.”
The J.D. Power Canada ALG Residual Value Awards recognizes vehicles segments that are projected to hold the highest percentage of the manufacturer’s suggested retail price (MSRP) after a four-year period for mass market 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.
For model-year 2022, 16 different brands won awards in 29 segments. The award process consists of evaluating 274 model lines through analysis of used-vehicle performance, brand outlook and product competitiveness. Eligibility for a brand award requires a manufacturer to have model 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.
Toyota has the most model-level awards with seven. Chevrolet and Lexus each have three awards. The brands with multiple awards are:
- Toyota: Camry, RAV4, Highlander, 4Runner, Tundra, Tacoma and Sienna
- Chevrolet: Bolt EV, Corvette and Silverado 2500 HD
- Lexus: IS, GX and UX
- GMC: Yukon and Savana
- Mercedes-Benz: AMG GT 4-Door and GLB
- Subaru: WRX and Crosstrek
Noteworthy for 2022 the Toyota Sienna beats out perennial winner Honda Odyssey in the minivan segment. Also of note are the increasingly popular electric vehicle winners, the Chevrolet Bolt EV in the mass market electric segment and the Porsche Taycan in the premium electric segment.