ALG, the industry benchmark for residual values and depreciation data, today announced its 12th annual Residual Value Awards, honoring vehicles across 19 different segments and two brands that are predicted to retain the highest percentage of their MSRP after a three-year period. The 2011 Hyundai Elantra topped the competitive compact segment, winning ALGs award for the highest residual value in its class.
The 2011 Residual Value Awards are based on the entire model year forecast of 2011 products. Award winners are determined through careful study of the competition in each segment, historical vehicle performance and industry trends. Vehicle quality, production levels relative to demand and pricing and marketing strategies are among the key factors that affect ALGs residual value forecasts.
Hyundais win of the mid-compact segment highlights the growing reputation of the brand, as well as its impressive new product push, said Raj Sundaram, Senior Vice President, Solutions Group and ALG. The all-new 2011 Elantra shines with standard luxurious features and a modest price tag, and its expected to be a favorite of young drivers like the VW Jetta and Mazda3 before it.
The all-new 2011 Elantra encompasses Hyundais latest ambitions including Fluidic Sculpture design, advanced safety technologies and best-in-class 40 mpg highway fuel economy. It took 33 months to develop the all-new Elantra and four years to bring it to market. The 2011 Elantra launches with new 1.8-liter Nu engine and in-house six-speed automatic transmission.
Achieving such tremendous value retention speaks to the overall quality and merit of the Elantra, said Mike OBrien, vice president, Product and Corporate Planning, Hyundai Motor America. Vehicles that retain their value in the long-term offer a lower overall cost of ownership to the customer, allowing Hyundai to offer strong lease options to consumers and better resale value at trade-in time for our customers who purchase their vehicles.
For more information and a complete list of winners, visit: www.alg.com.