Accord's resale value best in its category, report says
The Honda Accord has the best projected resale value in the midsize car segment, part of a strong showing by the automaker yesterday in Kelley Blue Book’s Best Resale Value Awards.
Honda models were tops in three categories, behind only Toyota and Lexus, which had six each.
The annual awards are based on Kelley Blue Book’s estimate of a vehicle’s resale value after five years and 75,000 miles.
An average 2014 model-year vehicle is projected to retain 39.7 percent of its value after five years, the publisher said. The Accord, which is assembled in central Ohio, is projected to retain 46.4 percent.
“One of the trends I’m noticing is that the cars are getting better, and residual values are going up,” said Eric Ibara, director of residual value consulting for Kelley Blue Book. “It is just, in general, a more-competitive marketplace today.”
While some segments used to be dominated by a few models, there is much more of a clustering near the top, he said. In particular, the Detroit Three — Chrysler, Ford and General Motors — have improved their showing.
The results are based on a combination of previous-year resale results and the authors’ judgments about how the newest model’s value may differ from its predecessors’. Kelley Blue Book has compiled its residual value guide since 1982 and started the Best Resale Value awards in 2003.
Honda is “honored to be recognized for our efforts by valuation leader Kelley Blue Book,” Michael Accavitti, senior vice president of automobile operations at American Honda, said in a statement.
Honda’s other segment winners were the Civic Si, which was the best sporty compact car, and the Accord Plug-in Hybrid, which was the best plug-in vehicle.
The CR-V crossover, also assembled in central Ohio, did not win its segment, but it was among the top 10 vehicles rated, projected to retain 50.7 percent of its value after five years.
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