JAGUAR AND LAND ROVER BRANDS HONORED WITH FIVE ALG RESIDUAL VALUE AWARDS
(MAHWAH, NJ) – November 17, 2016 – Jaguar Land Rover North America LLC. is proud to announce that it has been awarded five 2016 ALG Residual Value Awards across both its Jaguar and Land Rover brands. ALG is the industry benchmark for residual values and depreciation data.
With Land Rover taking the prestigious Premium Brand award, three vehicles in the 2017 lineup were also recognized as category leaders. The Discovery Sport was awarded Best Premium Compact Utility, the Range Rover won the Premium Full-Size Utility category, and for the tenth year in a row, the Range Rover Sport took out Best Premium Mid-Size Utility. Additionally, as the Jaguar brand continues to gain momentum in the U.S, the new compact sports sedan, the Jaguar XE, was awarded Best Premium Mid-Size vehicle.
The annual ALG Residual Value Awards recognize automakers' outstanding achievements for vehicles that are predicted to retain the highest percentage of their original price after a conventional three-year period. Awards are given in 26 vehicle categories and also for the two brands with the highest overall predicted residual values among all mainstream and all premium vehicles. This year’s awards are based on 2017 model year vehicles.
“It is an honor to have Land Rover named Best Premium Brand by ALG for the third consecutive year,” said Kim McCullough, Vice President of Marketing, Jaguar Land Rover North America. “Also having the Range Rover, Range Rover Sport, Discovery Sport and the Jaguar XE all awarded as ALG category winners is a testament to the quality, design, innovation and value that our two iconic brands offer to customers.”
“This will mark the third consecutive year that Land Rover has taken home the Residual Value Award for Premium Brands. The distinctive British utility brand took home a Residual Value Award in every segment they competed in, leaving all other Premium Brands no chance to topple Land Rover’s continued domination in residual value leadership,” said Jim Nguyen, President of ALG. In addition, with the all new XE, Jaguar has re-entered the Premium Midsize segment with a vehicle that is equal parts British sophistication, exhilarating performance and seductive style. The result is a vehicle that leaps to the top of the class among Premium Midsize competitors taking home the Residual Value Award in its debut year.”
Holding the title for best Premium Mid-Size Utility for the tenth consecutive year, the Range Rover Sport is the fastest, most agile and responsive Land Rover vehicle ever. The Range Rover is the ultimate luxury all-terrain SUV, with the 2017 model offering new cutting-edge technologies and unprecedented levels of personalization, while the Discovery Sport upholds the brand’s core values of capability and versatility. The Jaguar XE compact sports sedan, which launched earlier this year, has brought 90 percent of new buyers to the brand, reaching an entire new audience of Jaguar fans.
ALG award winners are determined through careful study of the competition in each segment, historical vehicle performance and industry trends. Vehicle quality, production levels relative to demand and pricing and marketing strategies represent key factors that impact ALG’s residual value forecasts.