Banks' coworker, Larry Dixon, director of market intelligence added, "Some models predictably did better than others, with one mainstream model outperforming luxury models as well."
That mainstream model Dixon refers to is the 2013 Toyota FJ Cruiser. For the second consecutive year, Toyota's discontinued off-roader took the top retention value spot among all makes, models and segments.
David Paris, senior automotive analyst at NADA Used Car Guide said, "The FJ Cruiser has a cult-like following in the used market. Along with other factors, high enthusiast demand for the 4x4 managed to increase its retention score by 1 percentage point over last year's report to 92.5 percent."
While the full listing of retention values can be found in the free Perspective Report on the NADA Used Car Guide website, the top five highest and lowest ranked three-year-old vehicles by segment are as follows:
5 Highest Ranked 2013 Model Year Value Retention Performers By Vehicle Segment
- Toyota FJ Cruiser – Non-Luxury SUV/Truck – 92.5% of value retained
- Land Rover Range Rover – Luxury SUV/Truck – 67.8% of value retained
- Subaru XV Crosstrek – Non-Luxury Car – 63.3% of value retained
- Ford Mustang – Non-Luxury Sports Car – 60.7% of value retained
- Porsche 911 (997) – Luxury Sports Car – 57.9% of value retained
5 Lowest Ranked 2013 Model Year Value Retention Performers By Vehicle Segment
- Smart FORTWO – Subcompact Car – 24.8% of value retained
- Suzuki Kizashi – Mid-Size Car – 26.7% of value retained
- Suzuki SX4 – Compact Car – 29.5% of value retained
- Suzuki Grand Vitara – Compact Utility – 30.1% of value retained
- Chevrolet Impala – Large Car – 30.6% of value retained
Top Non-Luxury Nameplate
Toyota vehicles dominated pickup truck, SUV and Van segment value retention in this year's report. As a result, the brand ranked highest in their respective segments six times. The brand was also the top non-luxury nameplate in NADA Used Car Guide's 2015 Used Vehicle Retained Value Report: 3-Year-Old Models with an equal share of highest segment rankings.
Top Luxury Nameplate
Land Rover replaced Audi in this year's value retention standings according to the Perspective report. The off-road capable brand managed three highest rankings which include the Range Rover Evoque (Luxury Subcompact Utility), LR4 (Luxury Mid-Size Utility), and Range Rover (Luxury Large Utility).
How Retention Values Are Determined
When asked about the method NADA Used Car Guide analysts used to determine 3-year value retention, Larry Dixon explained, "The retention calculation is a function of a three month average of NADA Used Car Guide's most recent average trade-in value, divided by a vehicle's average typically-equipped Manufacturer Suggested Retail Price (MSRP). A vehicle's rate of depreciation, and ultimately retention, is in part a product of the level of discounting at the time of new. For this reason, MSRPs did not include any incentives or rebates available at the time of purchase."
Download the October 2016 Perspective Report
The full October Perspective report listing all values, how the retention figures were calculated, and vehicle-specific information can be downloaded for free on the NADA Used Car Guide website.
About NADA Used Car Guide®
Since 1933, NADA Used Car Guide® has earned its reputation as the leading provider of vehicle valuation products, services and information to businesses throughout the U.S. and worldwide. Its editorial team collects and analyzes over 1 million combined automotive and truck wholesale and retail transactions per month. Its guidebooks, auction data, analysis and data solutions offer automotive/truck, finance, insurance and government professionals the timely information and reliable solutions they need to make better business decisions. NADA Used Car Guide® and its logo are registered trademarks of National Automobile Dealers Association, used under license by J.D. Power.
NADA Used Car Guide®, a division of J.D. Power
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SOURCE NADA Used Car Guide