Honda is named as Canada's best 'Mainstream Brand' for Residual Value
Individual segment awards won by Honda Odyssey, Fit and Ridgeline
Honda Canada Inc. received top honours from ALG as the winner of the "Mainstream Brand Residual Value Award" as part of ALG's Canadian Residual Value Awards that honour vehicles that are predicted to retain the highest percentage of their original price after a conventional retail lease.
Honda was ranked the best overall brand out of 19 mainstream automotive brands in Canada. Acura, the luxury division of Honda Canada Inc., received a second-place award in the Luxury Brand Residual Value category, placing ahead of 11 other luxury brand competitors.
The awards are based on 2009 model year vehicles. The awards are derived after carefully studying segment competition, historical vehicle performance and industry trends, and are based on analysis using only Canada-specific data. ALG, based in Santa Barbara, California, provides data and consulting services to the automotive industry and publishes the "Automotive Lease Guide" in both Canada and the U.S.
In addition to winning the overall Mainstream Brand Residual Value Award, Honda Canada also received individual segment awards for the Honda Odyssey (Minivan segment); the new Honda Fit (Entry Compact Car); and the Honda Ridgeline (Compact/Midsize Pickup Truck).
"We are very excited to announce the inaugural Canadian Residual Value Awards," said John Blair, Chief Executive Officer of ALG. "Honda clearly set itself apart by winning the overall Mainstream award and three segment awards. Honda benefits from its disciplined production, consistent high quality and value pricing, and its shift to more fuel-efficient vehicles has also helped the brand.
"We firmly believe that Residual Value is the best metric for evaluating the overall strength of an automotive brand, and congratulate all of the winners for their successful products and marketing strategies."
Honda Canada manufactures the Honda Civic sedan and coupe, and the Acura CSX sedan and MDX luxury utility vehicle at its two plants in Alliston, Ontario, and produces fuel-efficient 4-cylinder engines at its new engine plant adjacent to its Canadian manufacturing facilities. With 135 manufacturing facilities in 28 countries worldwide, Honda attracts more than 24 million customers annually.