Honda Earns the Top Spot in 2022 J.D. Power Residual Value Awards
J.D. Power’s ALG division, which is known as the authority of automotive residual value projections, has just released its annual ALG residual value awards for 2022.
Honda received the most Residual Value Awards with a total of 3 vehicles being awarded, the Honda Civic, Passport and Odyssey all earned the top spot in the respective segments.
“Accurately forecasting residual values in the auto industry is a key factor in assessing an estimated $225 billion lease portfolio of vehicles”
said Eric Lyman, vice president of ALG.
“The brands and vehicle models that rise to the top demonstrate that they score well across the award program’s criteria, including manufacturers’ superior design and quality.”
Why Should You Listen to J.D. Power?
The J.D. Power Residual Value Awards is the universal standard for determining a vehicle's projected residual value following three years of ownership. This value first and foremost helps predict future resale price, which heavily influences the initial purchasing decision. Secondly this residual value also helps determine the lease cost of a vehicle and it helps gauge the long term quality and design of a vehicle as well as how desirable the vehicle is.
And the Winner is…
Honda had the most vehicles on the residual list of any auto manufacturer (tying with Hyundai for top spot). The Honda Odyssey, Passport and Civic earned the J.D. Power 2022 ALG Residual Value Awards in their respective Minivan, Mid Size Utility and Compact segments. These awards prove that Honda vehicles are amongst the best built and priced on the road today, having incredible value even years after the initial purchase.
Check out Honda West’s selection of new and used Honda’s, including the award winning Honda Civic, Passport, and Odyssey.