Fourth-annual ALG awards honour 2012 vehicles that demonstrate ability
to hold value in Canadian market
MARKHAM, ON, Feb. 16, 2012 /CNW/ - Two of Honda Canada's most popular
vehicles have received Canadian Residual Value Awards from automotive
insights company ALG, the industry benchmark for residual values. The
2012 Honda Odyssey won in the MPV category while the 2012 Honda CR-V,
Canada's top-selling import SUV, won in the Compact Utility category.
"These awards are a testament to the quality and reliability that
customers have come to expect from Honda," said Jerry Chenkin,
executive vice president, Honda Canada Inc. "Odyssey and CR-V play very
important roles in the lives of many Canadians and these awards should
reassure our customers of the investment they are making when choosing
About the ALG Residual Awards
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.
Award winners are determined through careful study of the competition in
each segment, historical vehicle performance, industry trends, and
economic conditions. Vehicle quality, production levels relative to
demand, and pricing and marketing strategies remain the key factors
that impact ALG's residual value forecasts.
About the 2012 Honda Odyssey
Ample space, dramatic exterior styling and engaging driving experience
are among the well-deserved impressions people get from Honda's
eight-passenger, luxurious family-mover that continues to be a class
leader in fuel efficiency and safety. For a family on the go, Honda's
Odyssey is the ultimate recreation room on wheels.
"Honda has kept incentives and fleet penetration to a minimum on the
Odyssey, which is a rolling showcase of emerging technology and smart
packaging," said Geoff Helby, Canada Regional Director for ALG. "Always
versatile, the Odyssey can transform from upscale family transporter to
voluminous cargo carrier in a matter of seconds."
The Odyssey is unsurpassed for safety with an extensive list of safety
equipment including the Advanced Compatibility Engineering™ (ACE™) body
structure - a Honda-exclusive body design that enhances occupant
protection and crash compatibility in frontal collisions. Combining
that with a 248 horsepower, i-VTEC® V-6 engine with Variable Cylinder
Management for enhanced fuel efficiency, and the highest estimated
highway fuel economy in its class, the Odyssey balances power, fuel
efficiency, safety and fun.
About the 2012 Honda CR-V
All new for 2012, the fourth-generation Honda CR-V embraces a
sophisticated styling direction in conjunction with improved interior
comfort, improved fuel economy, a smoother and quieter ride, and more
innovative features as part of a 'total package' approach. Long
established as the benchmark vehicle in its class with high levels of
quality, refinement and value, the 2012 CR-V is designed to exceed
customer expectations in the compact sport-utility vehicle (SUV)
segment with increased value resulting from lower MSRPs across the
entire CR-V lineup and added content.
"With improved styling and feature-rich content, the redesigned CR-V
provides a strong value proposition for consumers," said Geoff Helby,
Canada Regional Director for ALG. "In a hyper-competitive segment,
adding competitive features and drivetrain to an already class-leading
vehicle and the strength of the Honda brand deliver great value for
All CR-Vs are powered by a 2.4-litre i-VTEC 4-cylinder engine with 185
horsepower and 163 lb.-ft. of torque. In addition, a new ECON operating
mode increases the potential for drivers to improve the vehicle's fuel
efficiency when the system is activated. The 2012 Honda CR-V is built
at Honda's assembly plant in Alliston, Ontario.
About Honda Canada
Honda Canada Inc. was founded in 1969 and currently employs
approximately 4,700 associates in addition to more than 15,000
dealership personnel across the country. Honda Canada has built close
to 6 million cars and trucks since 1986. Honda's two vehicle assembly
plants in Alliston, Ontario, produce Honda CR-V, the Civic Coupe, Sedan
and Si models, and the Acura MDX and ZDX. An adjacent engine plant
produces fuel-efficient 4-cylinder engines for Civic. All three plants
have achieved zero-waste-to-landfill status. Honda Canada has invested
more than $2.6 billion in Canada, and annually sources nearly $1.1
billion in goods and services from Canadian suppliers. For more
information, please visit hondanews.ca.
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.
Image with caption: "Geoff Helby, Canada Regional Director, ALG, presents the 2012 Residual Value Award for the Honda Odyssey to Jerry Chenkin, Executive Vice President, Honda Canada Inc., at the Canadian International Auto Show. (CNW Group/Honda Canada Inc.)". Image available at: http://photos.newswire.ca/images/download/20120216_C4893_PHOTO_EN_10212.jpg
SOURCE Honda Canada Inc.
For further information:
Richard Jacobs (416) 543-6593
Maki Inoue (905) 888-4416