And now for the latest instalment in our ongoing series to plot new developments in Canadian resale values:
Acura’s reinvented 2013 RDX crossover wagon is projected to hold 71 per cent of its value after two years, far surpassing the average for compact premium crossovers at 53 per cent, reports ALG, the former Automotive Lease Guide which uses a variety of factors to predict used car values in the future.
What’s more, ALG expects resale values of the new RDX to exceed the market average after three, four and five years. After 36 months, you can expect the RDX to retain 57 per cent of its original value, followed by 46 per cent after 48 months, and 38 per cent after 60 months. The segment averages are 43 per cent, 34 per cent and 28 per cent (three, four and five years respectively).
Yet despite those improved residuals, ALG does not look for the new RDX to gain on its competition. The segment is simply too competitive. Here’s an example a good product that will hold its value over time, yet one unable to win over customers from rival models – even though its new, 273-horsepower V-6 engine is rated up to 7.3 litres/100 km on the highway thanks in no small part to its six-speed automatic transmission.
Okay, on to the 2013 Chevrolet Spark. Despite a less-than-flattering description of the Daewoo-built, first-ever Canadian microcar from Chevrolet – the compact “(Chevrolet) Sonic sitting next to it in the showroom is more substantial, more roomy, and much faster” – ALG expects the Spark to out-pace the industry average for microcars. Look for the Spark to hold 58 per cent of its sticker after two years, versus 45 per cent for microcars on average.
ALG has strong praise for the facelifted 2013 Ford Mustang, citing Ford’s “bold decision to standardize HID headlights with LED bars and smoked LED taillights differentiates this ‘Stang from its predecessor” and giving the Mustang looks that are “very cutting-edge.” These improvements enhance residual value. ”Still, despite Ford’s good work, look for the newer Mustang to hold 60 per cent of its value after two years, versus a 65 per cent average for sporty cars across the board.
Finally, the all-new Nissan Altima is expected to hold 62 per cent of its value after two years, versus a 51 per cent average for mid-size cars in general. ALG believes the Altima will be a strong seller, and had praise for Nissan’s work to deliver a high-content sedan without a price increase.
With leasing on the upswing, the strong retained values represented by these four offer the promise of a healthy new vehicle market going into 2013. Indeed, DesRosiers Automotive Consultants sees signs of record sales in 2013. New vehicle sales were up 6.4 per cent in September, with tracking for the month at a very strong annually adjusted rate of 1.71 million units.
For the record, the Canadian market for years has been plodding along with sales of around 1.6 million annually, year after year after. Anything above 1.7 million would be a big step forward. Make no mistake, strong resale values will play a part in the recovery and growth of the new vehicle market in Canada.