By: Trevor Hofmann
Everyone in business understands that saving money is just as important as increasing revenue, with real earnings, or profits
|The 2017 Range Rover Sport won the “Premium Midsize Utility Vehicle – 2 Row” segment in ALG’s 9th Annual Canadian Residual Value Awards. (Photo: Karen Tuggay, Canadian Auto Press)
found in between. No wonder business leaders love Land Rover.
ALG, an analytics subsidiary of TrueCar, recently named Land Rover with top Overall Brand Honours in ALG’s 9th Annual Canadian Residual Value Awards (RVA) within the Premium Brand sector.
“Residual values are a key indicator of the overall market success and health of a vehicle and brand. Whether a consumer is looking to purchase or lease a vehicle, the largest cost consideration is how much a vehicle will retain its value over time,” said Jim Nguyen, president of ALG. “And with vehicle leasing on the rise, resale values have never been more important to both consumers and automakers.”
|The 2017 Discovery Sport was recognized in ALG’s RVA along with the Range Rover Sport and full-size Range Rover. (Photo: Karen Tuggay, Canadian Auto Press)
RVA forecasts brands and models that will most likely retain highest average values when compared to their original Manufacturer’s Suggested Retail Price (MSRP) after three years.
This was the third consecutive year Land Rover placed first amongst premium brands. As it is, demand for pre-owned Land Rovers outstrips supply, which naturally results in higher transaction prices.
Land Rover was honoured in three premium classes, with the Range Rover Sport winning the “Premium Midsize Utility Vehicle – 2 Row” segment outright and the compact
|Both ALG and Canadian Black Book recognized the Range Rover, the latter in the “Full-Size Luxury SUV” category as part of its 2017 Best Retained Value Awards. (Photo: Karen Tuggay, Canadian Auto Press)
Discovery Sport and full-size Range Rover recognized within their respective categories.
The 2017 recipients were presented their awards at the Canadian International Auto Show in Toronto last week.
On another note, Canadian Black Book recognized Land Rover’s Range Rover for its strong resale performance within the “Full-Size Luxury SUV” category in the third-party analytical firm’s 2017 Best Retained Value Awards program.
These awards are given to vehicles after four years of study, in which CBB claims their analysts scour “hundreds of thousands of sales transactions and other data points from live auctions, online auctions, dealership and other proprietary sources.” Prizes get awarded to vehicles that maintain the highest percentage value when compared against their original Manufacturer Suggested Retail Price (MSRP).
Both the CBB and ALG awards put Land Rover in a very good light when it comes to long-term retained value, making the brand an intelligent choice as well as an aspirational one.
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