ALG awards honour 2012 vehicles that hold value and benefit customers at time of resale
(TORONTO) – Toyota announced that it has received three Canadian Residual Value Awards from the automotive insights company ALG, publisher of the well-respected Automotive Lease Guide.
Toyota’s three Residual Value Awards were for the Toyota Camry in the Mid-size Car category, the Toyota Tacoma in the Mid-size Pickup segment, and Toyota Tundra in the Full-size Pickup category. These vehicles are most likely to retain the highest percentage of their original price in Canada after a conventional retail lease within their segments. When added to the three U.S. vehicles that won ALG awards for 2012, Toyota has won a total of six ALG awards in North America.
The annual ALG Residual Value Awards recognize automakers’ outstanding achievements in producing vehicles that demonstrate the ability to retain the highest percentage of their original price after a three-year period. Awards are given in 19 vehicle categories and two brand categories (mainstream and luxury). This year’s awards are based on 2012 model year vehicles.
“Toyota Canada is committed to delivering value to its customers yearly,” noted Tony Wearing, Senior Managing Director, Toyota Canada Inc. “Helping Canadians further their dollar is of utmost importance to us, and we are proud that ALG has recognized the value in these vehicles. Canadians can feel confident knowing that their quality, dependable and reliable Toyota will deliver a high resale value.”
“The redesigned Camry hits at the right time in this highly contested segment,” said Geoff Helby, Canada Regional Director for ALG. “The new Camry’s enhanced design combined with improved driving dynamics and interior styling are welcome changes to a consistent segment leader.”
Regarding the award won by the Tacoma, Helby said: “With few competitors remaining and a long-standing tradition of near-zero incentives, the Tacoma takes home the Canadian RVA in the Mid-size Pickup segment for the second consecutive year. Preserving much of the capability of light-duty full-size pickup trucks, the Tacoma appeals to fuel-efficiency-minded buyers, even while entering the eighth year of its current generation.”
In addressing the Tundra, Helby explained: “For its latest generation of full-size pickup, Toyota decided to go straight at the domestics in terms of size and capability, but it’s the Tundra’s dependability and value that help it to stand out among the segment. Add to that a strategy of low incentives compared to the segment average, and it’s no mystery that the Tundra has the strongest retention of any full-size truck for the third year in a row.”
About Toyota Canada Inc.
Toyota Canada Inc. (TCI) is the exclusive Canadian distributor of Toyota, Lexus and Scion cars, SUVs and trucks. Toyota is the first full-line manufacturer to make all of the elements of the Star Safety System standard on every vehicle starting in 2011. The Star Safety System includes Vehicle Stability Control (VSC), Traction Control (TRAC), Anti-lock Brake System (ABS), Electronic Brake-force Distribution (EBD), Brake Assist (BA) and Smart Stop Technology (SST). TCI’s head office is in Toronto, with regional offices in Vancouver, Calgary, Montreal and Halifax and parts distribution centres in Toronto and Vancouver.
About ALG (www.alg.com)
Based in Santa Barbara, California, ALG is the industry standard for residual values and a leading provider of insights and consulting services to the automotive industry. ALG publishes the Automotive Lease Guide – the benchmark for residual value expectations in North America, and has been forecasting automotive residual values for nearly 50 years in both the U.S. and Canadian markets.