Buick and Jaguar Win Overall Brand Honors in 5th Annual 2021 ALG Pre-Owned Value Awards

ALG recognizes pre-owned vehicles expected to retain the highest value

SANTA MONICA, Calif., Nov. 16, 2020 (GLOBE NEWSWIRE) -- ALG, Inc. the industry benchmark for forecasting future vehicle values, and the analytics subsidiary of TrueCar, Inc. (NASDAQ: TRUE) 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.

Below is the full list of 2021 POVA winners:

POVA Overall Brand
POVA Segment Model
CompactSubaru Impreza
Compact UtilityBuick Envision
ElectricKia Soul EV
FullsizeToyota Avalon
Fullsize CommercialRam Promaster
Fullsize PickupRam 1500
Fullsize UtilityGMC Yukon
Micro UtilityJeep Renegade
MidsizeHyundai Sonata
Midsize CommercialMercedes-Benz Metris
Midsize PickupToyota Tacoma
Midsize Utility 2-Row SeatingHyundai Santa Fe Sport
Midsize Utility 3-Row SeatingToyota Highlander
MinivanHonda Odyssey
Off-Road UtilityJeep Wrangler
Premium CompactMercedes-Benz CLA Class
Premium Compact UtilityLand Rover Discovery Sport
Premium ExecutiveLexus LS
Premium FullsizeVolvo S90
Premium Fullsize UtilityMercedes-Benz GLS-Class
Premium MidsizeInfiniti Q50
Premium Midsize Utility 2-Row SeatingJaguar F-Pace
Premium Midsize Utility 3-Row SeatingInfiniti QX60
Premium SportscarPorsche 718 Cayman
Premium Subcompact UtilityMercedes-Benz GLA-Class
SportscarDodge Challenger
SubcompactHonda Fit
Subcompact UtilityHonda HR-V

About ALG

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.

About TrueCar

TrueCar is a leading automotive digital marketplace that enables car buyers to connect to our nationwide network of Certified Dealers. We are building the industry's most personalized and efficient car buying experience as we seek to bring more of the purchasing process online. Consumers who visit our marketplace will find a suite of vehicle discovery tools, price ratings and market context on new and used cars -- all with a clear view of what's a great deal. When they are ready, TrueCar will enable them to connect with a local Certified Dealer who shares in our belief that truth, transparency and fairness are the foundation of a great car buying experience. As part of our marketplace, TrueCar powers car-buying programs for over 250 leading brands, including AARP, Sam’s Club, and American Express. Nearly half of all new-car buyers engage with TrueCar powered sites, where they buy smarter and drive happier. TrueCar is headquartered in Santa Monica, California, with offices in Austin, Texas and Boston, Massachusetts.

For more information, please visit www.truecar.com, and follow us on Facebook or Twitter. TrueCar media line: +1-844-469-8442 (US toll-free) | Email: pr@truecar.com 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b0fef259-2f71-4b56-9ba6-5c3f0cfdb54a

ALG's 2021 Pre-Owned Value Awards (POVA)