TORRANCE, Calif., Nov. 26, 2012 /PRNewswire/ -- American Honda Motor Co., Inc. received multiple 2013 Residual Value Awards from ALG, including the top honor of Best Mainstream Brand. Additionally, the 2013 Honda Accord, Honda Odyssey and Honda Fit each received individual Residual Value Awards as the highest ranked vehicles in their respective segments. As the leading provider of residual value information to the automotive industry, ALG's annual Residual Value Awards honor the vehicles in each industry segment that ALG predicts will retain the highest percentage of their original price after a three-year period.
"Long-term value and reliability are both hallmarks of the Honda brand and we are honored to be recognized by ALG as the industry leader in these key qualities," said Michael Accavitti, vice president of national marketing operations at American Honda. "The Honda engineering philosophy not only delivers immediate value to our customers but will pay off in the long run as well."
The Honda brand was named the Best Mainstream Brand for 2013, which recognizes the entire Honda lineup for exceptional vehicle quality, strong brand desirability, and long-term reliability. The all-new 2013 Accord ranked the highest in the ultra competitive Midsize Car category. The Honda Odyssey prevailed in the Best Minivan (MPV) category, retaining the top spot for the second consecutive year. The Honda Fit received a Residual Value Award for the fifth consecutive year in the Sub-Compact Car category. Since 2000, the Honda brand has earned 28 model awards and seven overall brand awards from ALG.
"The Honda brand is a constant in ALG's Residual Value Award history," said Larry Dominique, President of ALG. "With its smart, value-focused financial strategy, excellent perceived quality, and the all-new Accord, Honda has proven that it provides a compelling, high residual value package for consumers."
ALG determines the award winners through careful study of the competition in each segment, historical vehicle performance and industry trends. Vehicle quality, production levels relative to demand, as well as pricing strategies are among the key factors that affect ALG's residual value forecasts.
Additional media information, including detailed pricing features and high-resolution photography of the 2013 Accord, Fit and Odyssey are available at www.hondanews.com. Consumer information is available at automobiles.honda.com.
Honda offers a complete lineup of Honda cars, trucks and service through a network of 1,037 Honda dealerships within the United States. In 2012, Honda will mark 30 years of producing automobiles in the region1, which began with the Accord in Marysville, Ohio in November 1982. Having produced over 23 million vehicles in North America, Honda currently operates 7 major automobile manufacturing facilities in the region.
Based in Santa Barbara, California, ALG is a leading provider of insights and consulting services to the automotive industry. ALG publishes the Residual Value Guidebook – the benchmark for residual value projections in North America, and has been forecasting automotive residual values for nearly 50 years in both the U.S. and Canadian markets. For more information, visit www.alg.com.
1 Honda products are produced using domestic and globally sourced parts.
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SOURCE American Honda Motor Co., Inc.