The Jeep Wrangler was the only domestic model to land among the top 10 nameplates when it comes to resale value.
Japanese automakers continue to retain a lead when it comes to vehicle resale values, according to a pair of new studies.
Of domestic products, only the Jeep Wrangler made it into the top 10, according to Kelly Blue Book’s 2013 Resale Value Awards, while a second study of resale values by TrueCar.com found no domestic brands made the top list. Nonetheless, Detroit makers – Ford in particular, have begun to close the once yawning gap.
“They’re no longer so far behind,” said Kelly Blue Book’s Eric Ibara.
The KBB analysis focused on how much of their original value vehicles maintained after 60 months of ownership – a point at which products are likely to lose more than half, and often two-thirds or more of their original sticker price. Residual values – which translate into trade-in prices — can be impacted by a variety of factors, including such things as options and even paint color. Engine packages often have a significant impact.
Toyota Motor Co., a traditional leader, claimed the top spot in six individual segments, such as full-size sedan, for the Avalon, midsize-SUV, for the FJ Cruiser, and minivan, for the Sienna. The maker’s luxury brand, Lexus, also won with the big LX SUV, while the youth-oriented Scion division scored with the small tC coupe.
Honda nabbed four segment wins, including compact sedan, with the Civic, the midsize Accord, the subcompact Fit and sporty compact Civic Si.
Each of the Detroit makers could claim at least a single segment win. The Jeep Wrangler was tops among compact SUVs and crossovers, while the V-6 version of the Chevrolet Camaro was tops among sports cars. The Camaro SS won among high-performance cars, and Ford’s Fusion nudged aside the traditionally dominant Toyota Prius to lead among hybrid vehicles.
The Fusion Hybrid had a significant 11% increase in its residual value compared to the previous KBB study, and Ford products, in general, reported a 2.5% gain.
On a $30,000 vehicle, even 2.5% can yield a significant $750 increase in residual values. And analysts suggest that more and more shoppers now take resale forecasts into consideration when shopping for a new vehicle. Ford’s global marketing chief Jim Farley has said that improving the maker’s residuals is one of Ford’s top priorities – a position echoed by senior executives at GM and Chrysler, as well.