Land Rover has recently been awarded with two ALG Annual Residual Value Awards, an honor bestowed each year to vehicles predicted to retain the highest percentage of their MSRP after a 3-year period.
The Range Rover Sport won its 7th consecutive Residual Value Award for the Luxury Midsize Utility Vehicle segment, while the new Range Rover Evoque added another award to its already impressive resume, winning the Luxury Compact Utility Vehicle segment. Vehicles are chosen following a close evaluation of award criteria which includes segment competition, sales strategy, resale performance, and industry residual values.
“Residual value is a great indicator of brand strength which in urn contributes to greater sales and profitability,” notes Raj Sundaram of ALG. “We have seen a strong focus this year on producing high-quality products with great pricing and packaging delivering real value for vehicle buyers.”
Formal recognition for residual value and initial quality is coming at the right time for Land Rover. Despite the vehicle’s popularity, the Land Rover brand has developed a precarious reputation, having been named to several “Least Reliable Vehicle” lists over the past few years.
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