New Study Finds Honda Tops Among Competitors for Long-Term Value
December 04, 2012 Business News(PRLEAP.COM) READING, Mass., Dec. 4, 2012 — Though it likely won't come as a surprise to those who have owned a vehicle from the automaker, Honda bested its competitors in ALG's 2013 Residual Value Awards, which honor models predicted to retain the highest percentage of MSRP after three years. In addition to topping Hyundai and Scion for Best Mainstream Brand, the company had three of its models win their segments, with the 2013 Honda Fit, Honda Accord and Honda Odyssey taking the Sub Compact Car, Midsize Car and Minivan categories, respectively.
Automotive researcher ALG chose its Residual Value Awards based on segment competition, industry trends and historical vehicle performance, as well as each vehicle's individual quality and the brand's desirability. Brands were also evaluated as a whole, with ALG taking their entire lineups into account for the top accolades. Honda's consistent value proposition and high perceived quality helped propel the brand to the top of the list this year.
"While price is important for automobile shoppers, they shouldn't forget that resale value is a huge factor in determining how much a vehicle is ultimately going to cost for the entire period of ownership," said Frank McLaughlin, general manager of Greater Boston Honda dealership Honda Gallery. "Hondas stay on the road for decades, and the brand continues to innovate with new drivetrain technology. That means that you're going to get more back when it's time to trade in for a newer model."
Even after a recent redesign, the 2013 Honda Accord faced some stiff competition in the Midsize Car segment of the ALG awards, but the sedan was able to beat out the Subaru Legacy and the Nissan Altima. Featuring all-new Earth Dreams powertrains, slightly smaller dimensions and a lighter curb weight, the newest generation of the Accord is the most fuel efficient yet. When paired with the new continuously variable transmission, the direct-injected 2.4-liter four-cylinder engine earns up to 36 mpg on the highway, while an upgraded V6 produces 278 horsepower and still nets 34 mpg on the highway with a six-speed automatic gearbox.
Honda also added new in-car technology to the 2013 Accord, including the available HondaLink infotainment system, which uses cloud-based services to integrate users' favorite Internet radio stations, audiobooks and social media feeds through a smartphone app. Meanwhile, optional active safety technology like LaneWatch, Forward Collision Warning and Lane Departure Warning helps drivers stay aware of their surroundings and avoid imminent collisions.
The two other Honda vehicles that led their segments in the Residual Value Awards this year, the Fit and Odyssey, were repeat winners. The Honda Fit has earned the award five years in a row, while the Honda Odyssey defended its title from last year. Since 2000, ALG's Residual Value Awards have resulted in Honda earning 28 individual vehicle awards and seven brand awards.
"The repeat wins for vehicles like the Odyssey and Fit show that Honda is offering the upmost in quality year-in and year-out for its customers," added McLaughlin. "However, it was the Accord's recent redesign that helped put the brand over the top in the ALG awards this year, and it shows that Honda is making the improvements that will keep it on top for years to come."
About Honda Gallery:
Massachusetts drivers have come to rely on Honda Gallery for all their motoring needs, which are consistently met thanks to their Greater Boston Honda dealership's dedication to customer service. Featuring an extensive inventory of new and used models ranging from the Honda Accord and Civic to the Odyssey minivan, Honda Gallery has the selection and expertise needed to find the right model for each shopper. Whether it is for a test-drive or a prompt and thorough repair, visit them at 88-98 Walkers Brook Dr. in Reading, MA, call them at 877-554-6301 or find them online at www.thehondagallery.com. Honda Gallery can also be liked on Facebook at www.facebook.com/HondaGallery.