Kelley Blue Book's KBB.com® Releases 2014 Residual Value Analysis
Toyota Retains Top Brand Position for Third Consecutive Year
IRVINE, Calif., Nov. 18, 2013 /PRNewswire/ -- The 2014 Residual Analysis Report is now available from Kelley Blue Book, www.kbb.com, the leading provider of new and used car information, including details about this year's Best Resale Value Award winners. Kelley Blue Book's Best Resale Value Awards are based on projections from the Kelley Blue Book® Official Residual Value Guide, determined by a skilled staff of automotive analysts.
For the 2014 model-year lineup, Toyota is expected to retain the greatest amount of its original value after the initial five-year ownership period. Toyota's 60-month average residual value improved 2.1 percentage points from last year to 46.1 percent (expressed as a percent of MSRP). With strength in its overall residual value average for 2014, this marks the third consecutive win for Toyota and fourth overall Best Resale Value: Brand win for the automaker since the inception of the Kelley Blue Book Best Resale Value Awards in 2003. Subaru was less than one percentage point away from Toyota and was ranked second among non-luxury brands.
Toyota's more refined sibling, Lexus, improved nearly 2 percentage point to 45.6 percent retained value after five years, helping the luxury brand to keep its Best Resale Value: Luxury Brand title for the third consecutive year. Lexus outperformed its closest competitor, Audi, by more than 6 percentage points.
"Lexus' full lineup had 60-month residual values above its segment averages, except for the GS 450h," said Eric Ibara, director of residual value consulting for Kelley Blue Book. "Lexus dominates the luxury categories, placing one of its vehicles at the top of its segment six times; a feat none of its competitors can match."
Overall, 60-month residual values for all 2014 model-year vehicles averaged 39.7 percent. This represents an increase of 1.5 percentage points compared to the 2013 model-year averages from the same period last year.
For the 2014 model year, trucks continue to hold their value better than cars, with the average 60-month residual value across all trucks at 41.7 percent compared to the 37.8 percent average across all cars. Pickup truck segments, both mid-size and full-size, have the highest segment residual values after five years. In contrast, pure electric vehicles like the Nissan Leaf and Ford Focus EV have not been in high demand by consumers who have enjoyed moderate fuel prices during the past 12 months. Automakers on the other hand are anxious to get these products into buyers' garages, as it helps manufacturers achieve Corporate Average Fuel Economy (CAFE) standards. The federal tax credit available on these vehicles also depresses used-car values, which contributes to the Plug-In Vehicles segment's lowest average 60-month residual value at 28.7 percent.
Kelley Blue Book's Full 2014 Residual Analysis Report Includes:
- The 2014 Best Resale Value Award winners
- Best Residual Value Brands 2014 vs. 2013
- Residual forecasts for truck and utility, compact, subcompact, mid-size car, and plug-in vehicle segments
- Analysis of domestic brand residual values
- Analysis of foreign brand residual values, including Japanese, European and Korean automakers
The full Residual Analysis Report is available free upon request by sending an email with your name, title and company name to firstname.lastname@example.org.
About Kelley Blue Book® Residual Values
While the company's Residual Value Guide has been published since 1982, Kelley Blue Book established its annual Best Resale Value Awards in 2003. Kelley Blue Book reports projections based on current vehicle data, relevant auction transactions, sales data, market conditions for each vehicle, competition within vehicle segments, expectations of the future economy and the combined experience of Kelley Blue Book's residual analysts. Residual values reflect projected future auction values for vehicles in average condition with 75,000 miles at the end of a five-year lease or ownership period. Kelley Blue Book's residual values are used by manufacturers, banks, financial institutions, and the automotive leasing industry.
For more information about Kelley Blue Book's 2014 Best Resale Value Awards, visit www.kbb.com/new-cars/best-resale-value-awards/.
About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In and Suggested Retail Values, and Fair Purchase Price, which reports what others are paying for new cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. For two years running, Kelley Blue Book's KBB.com ranked highest in its category for brand equity and was named Online Auto Shopping Brand of the Year in the 2012 and 2013 Harris Poll EquiTrend® study. Kelley Blue Book Co., Inc. is a subsidiary of AutoTrader Group, which includes AutoTrader.com, vAuto, VinSolutions and HomeNet Automotive. AutoTrader Group is a majority-owned subsidiary of Cox Enterprises.
SOURCE Kelley Blue Book
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