ALG, Inc. the industry benchmark for forecasting future vehicle values, and the analytics subsidiary of TrueCar, Inc. today announced the winners of the 2021 Pre-Owned Value Awards (POVA), ranking Buick and Jaguar as the top Mainstream Brand and Premium Brand respectively.
“Buick and Jaguar provide consumers the best of both worlds, the luxury and quality of a great vehicle coupled with the value and peace of mind of Certified Pre-Owned (CPO) program benefits. This combination has propelled Buick and Jaguar to the number one brand spots in their respective categories for this year’s Pre-Owned Value Awards,” said Eric Lyman, Chief Industry Analyst at ALG.
The 2021 POVAs are awarded to vehicles with the lowest forecast depreciation from two years of age to five years of age, during the period 2020-2023. Vehicle segmentation is based on ALG’s proprietary automotive segmentation, which takes into account information such as vehicle size, transaction price, and cross-shop information.
“About half of consumers trade-in their existing vehicle when they’re buying their next car and use that trade-in value toward the purchase of their next car. As consumers begin their vehicle selection process, ALG’s Pre-Owned Value Awards are a great resource in helping consumers identify the used vehicles that best hold their value and get the most bang for the buck upon resale,” add Lyman.
This is Buick’s first time winning in POVA’s overall Mainstream Brand category and Jaguar’s first time winning in the Premium Brand category.
For the first time, ALG introduced the Micro Utility category to this year’s awards. Jeep took top honors in the new category with the Jeep Renegade.
Award winners are determined through careful analysis of used vehicle performance, brand outlook and product competitiveness. Eligibility for a brand award requires a manufacturer to have vehicle entries in at least four different segments. To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line.
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