The J.D. Power 2022 Canada ALG Residual Value Awards were recently announced and multiple Lexus models were recognized while Lexus was named a top brand in the premium segment.
These awards are meant to showcase a vehicle’s value through its ability to hold the highest percentage of its manufacturer’s suggested retail price for three years (for premium models). This is calculated by considering the total cost of ownership as well as the quality, reliability, and features available on the models.
When it comes to the model-level Residual Value Awards, three Lexus vehicles stood out to ALG, an automotive division of J.D. Power: IS, GX, and UX. The flagship IS sedan was the Premium Midsize winner for the second consecutive year while the GX took the Premium Midsize Utility category, also for the second year in a row. However, the newest model of this group — the Lexus UX — won the Premium Subcompact Utility category for the third consecutive year.
Along with analyzing individual models, ALG assessed all mass market and premium brands and awarded two auto brands with the honours. Lexus was named the top premium brand for the second year in a row.
It’s exciting to see Lexus get recognized for creating high-quality vehicles. If you want to know more about the award-winning Lexus lineup, contact our team at Lexus Downtown in Toronto, Ontario.