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Honda, Hyundai top car residual value / depreciation awards list

J.D. Power announced its 2022 U.S. ALG Residual Value awards Thursday, with Honda and Hyundai topping the charts at three models apiece in the industry-standard study. The term "residual" is an industry projection of how well a car will hold its resale value three years from the original purchase date – a key metric in calculating lease costs and projecting new-car depreciation.  Award winners included several enthusiast-friendly options, including the BMW 2 Series, Dodge Charger, Subaru WRX, Mercedes-AMG GT and Toyota Tacoma. Even the Ford Bronco was recognized, beating out the Jeep Wrangler in the Off-Road Utility segment. That may seem odd given the car's issue-plagued launch, but scarcity apparently trumps quality control issues over the longer term. Here's a scrolling complete list of winners broken down by segment: “Accurately forecasting residual values in the auto industry is a key factor in assessing an estimated $225 billion lease portfolio of vehicles in the United States,” said ALG VP Eric Lyman in the company's announcement. "The brands and vehicle models that rise to the top demonstrate that they score well across the award programÂ’s criteria, including manufacturersÂ’ superior design and quality." ALG looks at several factors to determine future value, which is especially tricky with new models. For 2022, 16 different brands were recognized across 29 segments. Behind Honda and Hyundai, Audi, Kia, Mercedes-Benz, Land Rover and Subaru all managed to chart with two different models. Here's the rundown of those who won in more than one category: Honda Civic Honda Passport Honda Odyssey Hyundai Accent Hyundai Kona Hyundai Kona EV Audi A6 Allroad Audi Q3 Kia K5 Kia Telluride Land Rover Range Rover Velar Land Rover Discovery Mercedes-AMG GT 4-Door Mercedes-Benz Metris:  Subaru  WRX and  Subaru Forester Toyota Tacoma  Toyota Tundra "The award process consists of evaluating 284 models through analysis of used-vehicle performance, brand outlook and product competitiveness," the announcement said. "Eligibility for a brand award requires a manufacturer to have model entries in at least four different segments. To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line."   Audi Honda Hyundai Kia Land Rover Mercedes-Benz Subaru Toyota

Toyota outsells VW for global sales crown, apologizes with a vow to 'be honest'

Toyota Chairman Akio Toyoda bows in apology during a press conference Tuesday over the group companies' quality scandals. (Getty Images)   Every quarter, the stock market hangs on how much sales growth Tesla and other startups have experienced. There's growth, but then there's sheer output, and when it comes to deliveries dominance, one company can't be touched. Toyota on Tuesday announced that it remained the world's top-selling automaker for the fourth year running, with record sales of 11.2 million vehicles in 2023. Toyota's global group sales jumped 7.2% last year; the numbers include sales at Daihatsu and truck unit Hino Motors. Toyota's parent-only vehicles, which include the Toyota and Lexus brands, hit a record of 10.3 million vehicles in 2023. Gasoline-electric hybrids made up about a third of those. Battery electric vehicles accounted for less than 1%. Toyota's annual output handily beat runner-up Volkswagen Group, which this month reported a 12% rise in deliveries last year to 9.2 million cars. That growth was driven largely by demand for Audi, which sold 1.9 million vehicles. The auto industry in 2023 enjoyed a post-pandemic recovery as supply chain bottlenecks eased, though shipping problems through the Red Sea so far this year have stalled that progress by some automakers, causing some car plants in Europe to suspend production. Toyota's global group sales have now topped 10 million vehicles for nine of the past 10 years, except for 2020 when the COVID-19 pandemic delivered a blow to the auto sector. Scandals and an apology Toyota's chairman apologized on Tuesday for scandals at the three group companies. Daihatsu, Hino and affiliate Toyota Industries have been beset by governance issues involving certification test procedures for cars and engines that could potentially hurt the brand's global reputation for quality and safety. "I would like to express my deepest apologies to our customers and stakeholders for the inconvenience and concern caused by the successive irregularities at Hino Motors, Daihatsu and Toyota Industries," Toyota Chairman Akio Toyoda told reporters. He was speaking at an event to announce a vision for the Toyota group, which was founded by his great-grandfather and now includes 17 companies.

Toyota teams with FirstElement Fuel on 19 hydrogen stations in California

Cross Toyota with a former General Motors and Hyundai executive and you might just get some real momentum when it comes to hydrogen refueling station deployment. Toyota and FirstElement Fuel Inc., which is headed by ex-GM and Hyundai executive Joel Ewanick, are working together on a project designed to complement California's agreement to spend about $200 million building 100 stations in the state. And while Toyota didn't put out any specific numbers, Automotive News reports that FirstElement received a $27.6 million grant from the California Energy Commission to build 19 stations, which will be sited at existing fueling spots and spaced far enough apart to be reachable by anyone within the state. In all, California has granted $47 million for the deployment of 28 new stations. Additionally, Toyota will get Linde to build a refueling station on a Toyota-owned property in the San Francisco Bay Area's San Ramon, Calif. Toyota, which is targeting a full-tank range of 300 miles and a five-minute refueling time for its fuel-cell sedan, had its fuel-cell prototype make its North American debut at the Consumer Electronics Show in Las Vegas in January. The company said at the time that 68 stations could serve 10,000 hydrogen vehicles. And while that station number doesn't sound terribly high, consider that there are fewer than 10 hydrogen refueling stations in California now. Check out Toyota's press release below and Autoblog's impressions from a drive of one of Toyota's fuel-cell prototypes late last year here. Toyota Collaborates with FirstElement, Providing Financial Assistance to Facilitate a Hydrogen Refueling Network in Targeted California Locations Toyota also will collaborate with hydrogen provider Linde, which will build a public hydrogen refueling facility at the Toyota San Francisco Regional Office May 01, 2014 TORRANCE, Calif. (May 1, 2014) – "The issue of hydrogen refueling infrastructure is not so much about how many stations; but rather, location, location, location," stated Bob Carter, senior vice president, Automotive Operations, Toyota Motor Sales, U.S.A., Inc. (TMS), just four months ago at the Consumer Electronics Show in Las Vegas where he unveiled a hydrogen fuel cell sedan due to launch in 2015. "Solutions are being found through collaboration between government, academia, carmakers and energy providers.