FOUNTAIN VALLEY, Calif., Nov. 18, 2020 /PRNewswire/ -- Hyundai's 2021 Sonata won the prestigious ALGResidual Value Award (RVA) in the midsize car segment. This honor recognizes vehicles that are projected to hold the highest percentage of their Manufacturer's Suggested Retail Price (MSRP) after a three-year period, a critical aspect in the total cost of ownership.
"Customers of Hyundai's 2021 Sonata will be selecting a vehicle that will hold its value more than any other in the entire midsize car segment," said Olabisi Boyle, vice president, Product Planning and Mobility Strategy, Hyundai Motor North America. "Earning a Residual Value Award from ALG makes Sonata's striking design, performance capabilities, and range of advanced safety and technology features even more compelling."
The 2018 Sonata and 2018 Santa Fe Sport have also both been recognized with ALG's Pre-Owned Value Awards (POVA) in the midsize and midsize utility two-row seating segments, respectively. 2021 POVAs are awarded to vehicles with the lowest forecasted depreciation from two to five years of age during the period from 2020 to 2023.
Founded in 1964 and headquartered in Santa Monica, California, ALG is an industry authority on automotive residual value projections in both the United States and Canada. By analyzing nearly 2,500 vehicle trims each year to assess residual value, ALG provides auto industry and financial services clients with market industry insights, residual value forecasts, consulting and vehicle portfolio management and risk services. ALG is a wholly-owned subsidiary of TrueCar, Inc., a digital automotive marketplace that provides comprehensive pricing transparency about what other people paid for their cars. ALG has been publishing residual values for all cars, trucks and SUVs in the U.S. for over 55 years and in Canada since 1981.
Hyundai Motor America
At Hyundai Motor America, we believe everyone deserves better. From the way we design and build our cars to the way we treat the people who drive them, making things better is at the heart of everything we do. Hyundai's technology-rich product lineup of cars, SUVs and alternative-powered electric and fuel cell vehicles is backed by Hyundai Assurance—our promise to create a better experience for customers. Hyundai vehicles are sold and serviced through more than 820 dealerships nationwide and nearly half of those sold in the U.S. are built at Hyundai Motor Manufacturing Alabama. Hyundai Motor America is headquartered in Fountain Valley, California, and is a subsidiary of Hyundai Motor Company of Korea.