Recalls don’t seem to be taking away Toyota’s resale value recognition, whether you’re talking about Toyota and Lexus taking back the Kelley Blue Book Best Resale Value Awards last year after being off the mantle for a while in the years following the largest vehicle recall ever; or winning the 2013 model-year awards after experiencing another round of large recalls. Along with winning the mainstream and luxury brand awards, Toyota and Lexus took 10 of the 22 vehicle category honors.
It’s not a real mystery as to why Toyota has done so well with resale values, according to Eric Ibarra, KBB’s director of residual consulting. It comes down to perceived product value and manufacturer incentive discipline. “They just offer outstanding vehicles at a good value. They understand how marketing decisions impact residual values,” he said.
Honda is very pleased with this year’s awards, too. The company took four KBB categories – the Honda Fit won subcompact car, Civic won compact car, Honda Civic Si sporty compact car, and Accord midsize car. Even better for Honda was taking the mainstream brand award and its Acura brand taking the luxury side in the ALG Residual Value Awards. Both brands took back the top spots after having been dismantled in recent years. The Honda brands took three of the 22 vehicle categories and Toyota did very well, too – with the Toyota, Lexus, and Scion brands leading by taking nine of the category wins.