Honda Secures Top Spot in Residual Values for Third Consecutive Year As Four Models Shine in ALG's Prestigious Retained Value Awards

Honda has once again clinched the coveted title of the #1 Mainstream Brand in Residual Values for the third consecutive year, reaffirming its commitment to building cars with superior reliability and value to customers. This award recognizes vehicles and automotive brands projected to retain the highest percentage of their original purchase price after a specific period, typically three years. 

In essence, it acknowledges the vehicles that demonstrate superior value retention in their respective segments. The Japanese automaker received this honor from ALG, a renowned authority in predicting new vehicle depreciation trends. Winning an ALG Residual Value Award is a significant achievement for automakers, as it reflects positively on their vehicles' long-term value, quality, and desirability. 

This recognition equally influences consumer perceptions and contributes to a brand's overall reputation in the automotive market. Not only did Honda emerge as the Best Mass Market Brand, but four of its flagship models also excelled in ALG's Annual best resell value list in their respective segments, including Honda Civic, Accord, CR-V, and Passport. 

See also: Invicta The Invincible: SEMA 2023 Battle of the Builders Overall Champion Announced 

ALG's Residual Value Award Winners

Outshining its competitors in mainstream auto manufacturing is a big deal for Honda and the automotive industry, as vehicles that hold their value well over time often appeal to consumers looking for a sound investment and can contribute to lower ownership costs. 

Compact Car With Best Resell Value: 2024 Honda Civic

Hailed as the most fun-to-drive and technologically advanced in its 50-year history, the Honda Civic secured its 3rd straight ALG Residual Value Award in the Compact Car segment. This accolade underlines the Civic's enduring appeal and long-term value retention.

Overview: The 2024 Honda Civic delivers praiseworthy performance, high fuel economy, and excellent passenger space. While it suffers minor drawbacks, such as highway road noise, the Civic stands out as an excellent small sedan choice. 

The current-generation Civic represents one of Honda's finest achievements, earning Edmunds' Top Rated Car for 2023 award. The Civic is for everyone and multiple purposes, offering ample interior room, pleasing performance, and a comprehensive array of Honda's latest technology and driver-assist features. 

For driving enthusiasts, the high-performance 315-horsepower Type R version is an enticing option. What sets the Civic apart is its versatility in body styles — available as both a sedan and a hatchback. 

While the sedan features a traditional trunk with a commendable 14.8 cubic feet of cargo space, the hatchback, with its slightly more bulbous profile and lift-up rear hatch, provides a generous 24.5 cubic feet of space behind the rear seats. 

The lift-up hatch adds convenience for loading bulky items in the back. While the Civic hatchback comes with a higher price tag than the sedan, the enhanced cargo area versatility makes it a worthwhile investment. 

See also: Meet The Honda "Riding-Assist" Self-Balancing Bike 

Midsize Car With Best Resell Value: 2024 Honda Accord

The 2024 Accord, boasting a sleeker design and an advanced sporty hybrid system, clinched an ALG award in the highly competitive Midsize Car segment. This recognition highlights the Accord's evolution and commitment to staying ahead in automotive innovation. 

Overview: The 2024 Honda Accord is the poster child of an economical midsize family sedan in an era dominated by SUVs. Despite the SUV craze, there remains a demand for a reliable and efficient sedan, and the Accord excels in delivering just that. 

While the base models feature a humble turbocharged 1.5-liter four-cylinder engine, most come equipped with a fuel-efficient four-cylinder hybrid setup. Regardless of the engine choice, front-wheel drive is the sole configuration. 

Having undergone a complete redesign last year, the Accord dons a fresh sheetmetal wardrobe that arguably makes it the most attractive iteration in generations. 

Inside, the Accord boasts two spacious rows of seats, a generously sized trunk, and all the expected infotainment tech of a modern car. However, what owners will love most is the Accord's refined road manners, apparent from the first mile. 

That's thanks to the crisp steering, a well-damped suspension, and predictable handling contribute. In essence, the Accord is the complete package, embodying the ideal fusion of style, practicality, and performance. 

Compact SUV With Best Resell Value: 2024 Honda CR-V

In the Compact SUV segment, the 6th-generation CR-V stood out for its sporty and modern interior, coupled with an adventurous, fun-to-drive experience. This winning combination earned the CR-V yet another ALG Residual Value Award. 

Overview: Long hailed as the benchmark small SUV for families, the CR-V's latest version maintains a reputation for a smooth ride, helpful tech features, and excellent storage space. 

Admittedly, the 2024 CR-V remains a solid choice but it's no longer the undisputed class leader it once was, not with rivals like Hyundai Tucson, Kia Sportage, and Mazda CX-50 around the corner. 

Honda's recent redesign of the CR-V last year brought about a slightly lengthened wheelbase, enhancing rear seat legroom and expanding maximum cargo space. 

Boasting over 39 cubic feet of cargo capacity behind the rear seats, the CR-V is one of the most accommodating small SUVs for luggage and bulkier items. Updates from the previous year included a new infotainment interface and a more seamlessly operating hybrid powertrain. 

The 2024 model introduces the Sport-L trim level, building on the midlevel Sport trim with added standard features like leather upholstery and a power liftgate. 

Notably, similar to the regular Sport, the Sport-L comes equipped with a hybrid powertrain, making it the third trim (following the CR-V Sport and Sport Touring trims) to offer a hybrid option. 

See also: Top 10 Cars Most Prone To Theft Globally 

Midsize 2-Row SUV With Best Value Retention: 2024 Honda Passport

A powerhouse of off-road capability and nimble on-road dynamics, the 2024 Honda Passport secured the ALG Midsize SUV 2-Row segment for the 5th consecutive year. Its top-of-class performance underscores Honda's dedication to delivering exceptional SUV experiences. 

Overview: Simplicity defines the Honda Passport. With a spirited 280-hp V6, nine-speed automatic transmission, and all-wheel drive, this two-row SUV is one of the most practical and efficient. Its wide rear cargo space easily accommodates gear or luggage, boasting a max towing capacity of 5,000 pounds. 

With simplicity as the Honda Passport's development and design direction, the 2024 Passport introduces subtle updates, including an off-road-focused TrailSport variant with all-terrain tires and a new paint option. 

The Black Edition tops the trim lineup with a refined interior, and all Passports now feature an upgraded center console for added storage. Despite its practicality, rivals like the Jeep Grand Cherokee and Hyundai Santa Fe add an extra layer of excitement and luxury. 

What Is The ALG Residual Value Award?

ALG stands for Automotive Lease Guide. The company tabulates insights and analytics in the automotive industry, specializing in forecasting vehicle depreciation, residual values, and automotive trends. 

ALG is widely recognized for its Residual Value Awards, which honor vehicles and brands expected to retain the highest percentage of their original value after a specific period, typically three years. 

J. Ryan Kerrigan founded the organization in 1964 as a guide for leasing companies to determine the residual value of leased vehicles. Over the years, ALG expanded its expertise in analyzing automotive market trends, leasing data, and depreciation patterns. 

In 2000, ALG was acquired by DealerTrack Holdings, Inc., and later in 2011, DealerTrack was acquired by Cox Enterprises, Inc. ALG has become an industry standard for residual value predictions, providing valuable insights for automakers, dealerships, and consumers. 

ALG's comprehensive data and analyses play a crucial role in helping businesses and consumers make informed decisions in the dynamic automotive market. 

The Residual Value Awards offered by ALG are highly regarded in the industry and contribute to shaping perceptions of vehicle value and quality. Honda's consistent dominance in ALG's Residual Value Awards reflects the brand's enduring quality and commitment to pushing the boundaries of automotive excellence.