It is no surprise that Honda’s 2013 lineup retains its value well. The manufacturer has developed a reputation for producing long lasting, desirable, and reliable cars. In fact, Honda has won the ALG Residual Value Award fully half of all the years it has been awarded, with the honor seven out of the last fourteen years.
ALG claims that depreciation is one of the largest expenses of owning a car, and that makes sense. While half of the value of a car doesn’t disappear when it is driven off the lot, on a car that doesn’t retain value well, it may depreciate that much in three years. A car that has better residual value will cost less in the long run because it will have a higher resale value. This is ranked by ALG based on desirability, reliability, and overall build quality.
Not only did Honda take home the overall brand recognition. Three 2013 models were recognized as having the best residual value in their class.
The redesigned 2013 Accord took home the honors in the hotly contested mid-sized sedan segment.
The 2013 Honda Odyssey received the award for the second year in a row.
The 2013 Honda Fit took the top spot in subcompact cars. The Fit has topped this class for the last five consecutive years.
This adds to previous model awards that Honda has received for a total of 28.
ALG is a trusted leader in insight and consulting for the automotive industry. Based in Santa Barbara, California, the firm has practice forecasting auto value for the last fifty years in all of North America.
Honda is currently celebrating thirty year anniversary of its Marysville, OH manufacturing plant, the Japanese automaker’s first North American production facility. Honda offers reliable vehicles of all styles through over one thousand local dealerships (http://www.headquarterhonda.com/