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 Honda."
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 consumers."
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
For further information:
Richard Jacobs (416) 543-6593
Maki Inoue (905) 888-4416