Report says used Honda and Lexus vehicles are the most valuable
Used car prices are up across the industry
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It's a seller's market for used cars, with short supplies sending prices to record highs, but what about in a few years?
Honda and Lexus received the J.D. Power U.S. ALG Residual Value Awards for brands. (Getty Images)
The 2022 edition of the J.D. Power U.S. ALG Residual Value Awards determined that the Honda and Lexus lineups will have the highest average projected residual values after three years of ownership in the mainstream and luxury categories.
The Honda Civic received the compact car segment award. (Honda)
The Honda Civic, Passport and Odyssey received three segment awards, while Lexus won the Premium Compact Utility category with the Lexus NX, but took the overall brand award on consistency.
The Honda Odyssey is expected to retain its value better than any minivan. (Honda)
"The achievement of Lexus speaks to an impressive, industry-leading continuity of residual value across its entire lineup," ALG Vice President Eric Lyman said. "It’s like a decathlete who wins only one of the individual 10 events but scores enough points in each of them to stand atop the podium."
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Here is the full list of winners by model type:
Compact: Honda Civic
Compact Utility: Subaru Forester
Fullsize: Dodge Charger
Fullsize Utility: Chevrolet Tahoe
Midsize: Kia K5
Micro Utility: Hyundai Kona
Midsize Utility 2-row: Honda Passport
Midsize Utility 3-row: Kia Telluride
Off-road Utility: Ford Bronco
Premium Compact: BMW 2 Series
Premium Compact Utility: Lexus NX
Premium Executive: Mercedes-Benz AMG GT 4-door
Premium Fullsize: Audi A6 Allroad
Premium Fullsize utility: Jeep Grand Wagoneer
Premium Midsize: Genesis G70
Premium Midsize Utility 2-row: Land Rover Range Rover Velar
Premium Midsize Utility 3-ro: Land Rover Discovery
Subcompact Utility: Mazda CX-30
Premium Subcompact Utility: Audi Q3
Premium Sportscar: Porsche 911 Carrera
Sportscar: Subaru WRX
Subcompact: Hyundai Accent
Mass Market Electric: Hyundai Kona EV
Premium Electric: Tesla Model Y
Fullsize Heavy Duty Pickup: GMC Sierra HD
Fullsize Pickup: Toyota Tundra
Midsize Pickup: Toyota Tacoma
Commercial Van: Mercedes-Benz Metris
Minivan: Honda Odyssey