LAND ROVER AND THE 2015 RANGE ROVER SPORT HONORED WITH ALG RESIDUAL VALUE AWARDS
- Land Rover awarded for "Best Premium Brand"
- The 2015 Range Rover Sport awarded "Best Premium Midsize Utility Vehicle"
Land Rover North America is proud to announce that the luxury automotive brand has been honored with two 2015 ALG Residual Value Awards for "Best Premium Brand" and "Best Midsize Utility Vehicle - 2 Row" for the 2015 Range Rover Sport. ALG is the industry benchmark for residual values and depreciation data. This marks the ninth win in ten years for the Range Rover Sport.
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 2015 model year vehicles.
"For Land Rover to be named Best Premium Brand by ALG in such a competitive segment is a real honor and testament to the quality, design and value we provide with each model in our family of vehicles, said Kim McCullough, Vice President of Marketing, Jaguar Land Rover North America. "We're also thrilled to see the Range Rover Sport win its ninth award, proving to be our strongest residual value model, as well as the best-selling model for Land Rover here in the U.S."
The second-generation Range Rover Sport is the fastest, most agile and responsive Land Rover vehicle ever. The Range Rover Sport delivers exceptional on-road dynamics with genuine Land Rover all-terrain capability. The technologically advanced Range Rover Sport presents an assertive and muscular exterior, luxurious interior and the practical flexibility provided by the option of 5+2 third row seating for occasional use.
In 2013, Land Rover set a new full year sales record, up 15 percent on the prior year following an incredible performance from Range Rover Sport which was close to equaling its prior record set in 2007. For 2014 CYTD, the Land Rover brand sales are now up 6 percent.
"Land Rover's extremely strong brand stands for unparalleled capability paired with ultimate luxury. This brand equity helps maintain strategies like low incentives that help to bolster residual values year after year," said Larry Dominique, President of ALG. "In addition, the Range Rover Sport has had a remarkable run of Residual Value Awards, with nine in the past decade, it's one of the best examples of Land Rover's mix of luxury, style and capability over any terrain."
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.