ALG, the industry benchmark for residual values and depreciation data, today announced its 12th annual Residual Value Awards, honoring vehicles across 19 different segments and two brands that are predicted to retain the highest percentage of their MSRP after a three-year period. The 2011 Hyundai Elantra topped the competitive compact segment, winning ALG's award for the highest residual value in its class.
The 2011 Residual Value Awards are based on the entire model year forecast of 2011 products. Award winners are determined through careful study of the competition in each segment, historical vehicle performance and industry trends. Vehicle quality, production levels relative to demand and pricing and marketing strategies are among the key factors that affect ALG's residual value forecasts.
"Hyundai's win of the mid-compact segment highlights the growing reputation of the brand, as well as its impressive new product push," said Raj Sundaram, Senior Vice President, Solutions Group and ALG. "The all-new 2011 Elantra shines with standard luxurious features and a modest price tag, and it's expected to be a favorite of young drivers like the VW Jetta and Mazda3 before it."
The all-new 2011 Elantra encompasses Hyundai's latest ambitions including "Fluidic Sculpture" design, advanced safety technologies and best-in-class 40 mpg highway fuel economy. It took 33 months to develop the all-new Elantra and four years to bring it to market. The 2011 Elantra launches with new 1.8-liter "Nu" engine and in-house six-speed automatic transmission.
"Achieving such tremendous value retention speaks to the overall quality and merit of the Elantra," said Mike O'Brien, vice president, Product and Corporate Planning, Hyundai Motor America. "Vehicles that retain their value in the long-term offer a lower overall cost of ownership to the customer, allowing Hyundai to offer strong lease options to consumers and better resale value at trade-in time for our customers who purchase their vehicles."
For more information and a complete list of winners, visit: www.alg.com.
Based in Santa Barbara, California, ALG (www.alg.com) is a leading provider of data and consulting services to the automotive industry. ALG publishes the "Automotive Lease Guide" - the standard for Residual Value projections in North America, and has been forecasting automotive residual values for over 45 years in both the U.S. and Canadian markets. ALG is a company of DealerTrack Holdings, Inc.
HYUNDAI MOTOR AMERICA
Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced through about 800 dealerships nationwide. All Hyundai vehicles sold in the U.S. are covered by the Hyundai Assurance program, which includes the 5-year/60,000-mile fully transferable new vehicle warranty, Hyundai's 10-year/100,000-mile powertrain warranty and 5-years of complimentary Roadside Assistance.