Toyota Motor Corporation has some of the highest retaining three-year-old trucks and SUVs, according to our latest edition of NADA Perspective, a special report focusing on used vehicle price performance.
Of the 10 segments analyzed in the report, Toyota produced models in nine of them, and of those, Toyota and Lexus models ranked among the top three spots in every single one.
In the mainstream sector, Toyota topped three of the six segments: mid-size utility with the 4Runner at 79.8%, mid-size pickup with its Tacoma at 80.7% and large-pickup with the Tundra at 71.6%. Another of the manufacturer’s other top performers is the Toyota FJ Cruiser, which earned a retention score of 69.7%, good enough for a second place finish in the compact utility segment. The FJ Cruiser’s figure was four-and-a-half points behind the Honda Element’s 74.2%, but 13 points higher than the segment’s average of 56.6%.
Things were even better for the brand within the mid-size utility segment as Toyota currently has two models at the top of the leaderboard. Under the segment’s top-performing 4Runner is the model’s sibling, the Highlander, with an average of 66.0%. Both vehicles scored substantially higher than the segment’s average of 55.5%.
In the large SUV segment, the Sequoia’s score of 61.4% earned it a second place finish, only a small half-point off of the group’s first place GMC Yukon Denali, and nearly four-and-a-half points higher than the segments average of 57%. While the mid-size van’s segment average of 49.2% was the worst among all trucks and SUVs, the Sienna’s score of 55.3% is good enough for a second place finish, less than half-a-point behind the first place Honda Odyssey.
On the luxury side of the market, the Lexus GX managed to secure a third place finish in the luxury mid-size utility segment with a retention score of 62.9%, a figure roughly seven points higher than the segment’s average of 55.7%. As for hybrid trucks and SUVs, the Toyota Highlander hybrid secured the number one spot with a retention average of 64.4%, and the Lexus RX hybrid managed a third place finish with an average of 58%. Both the Highlander and RX scores are quite a bit higher than the segment’s average of 54.3%.
Toyota and Lexus brand vehicles generally have high retention value due to their combination of build quality, efficiency and relative versatility. While they may not be the most design-forward, exciting or fastest vehicles on the road, Toyota models remain consumer favorites for getting the job done in the most economical way possible. This inherent practicality is the reason both new and used buyers alike keep coming back for more, which ultimately helps preserve value retention.
NADA calculated retention figures for the most prevalent trim level of three-year-old light duty trucks and SUVs. For the purposes of this report, retention is a function of a three-month average (Jan. 2014 – March 2014) of NADA’s average trade-in value divided by a vehicle’s typically-equipped MSRP, not including any incentives or rebates available at time of purchase.
Click here for the March edition of NADA Perspective.