Auto blog

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

Recharge Wrap-up: Hydrogen Hyundais and Tesla tax breaks

The 70 Hyundai Tucson Fuel Cells owned by customers in southern California have driven a cumulative 475,000 miles. "Over the past year, Hyundai's Tucson Fuel Cell owners are showing the world today that this technology represents the next generation of zero-emissions transportation," says Hyundai's Mike O'Brien. "Building momentum for fuel cell vehicles and their real-world applications, these customers are sharing their experiences of how the Tucson fits seamlessly into their daily lives." A new video from Hyundai shares the story of a year of ownership for one such customer. Dave Uselton took delivery of his Hyundai Tucson Fuel Cell in June of 2014. Other drivers' experiences have been shared in video on a dedicated website. See the video above, and read more in the press release below. The first of 200 fast charging stations as part of France's Corri-Door project are now operational. The Corri-Door project aims to have all 200 charging points installed by December 2015. The universal chargers can quick charge an electric vehicle to 80 percent in just 30 minutes. The first two are now online at the Bosgouet Nord (A13) and Tardenois Nord (A4) service stations. The chargers will be installed along major motorways throughout France at intervals of about 50 miles. Read more in the press release from Renault. California may give Tesla $15 million in tax cuts in exchange for jobs. After losing out on having the state be home to the Gigafactory, Governor Jerry Brown's GO-Biz agency is proposing the tax cuts in order for Tesla to buy equipment and property and create 4,400 jobs in California. In all, GO-Biz is proposing $49.5 million in tax relief to California companies in return for 11,000 new jobs. Last year, California lost out on the Gigafactory when Nevada offered $1.3 billion in tax breaks — an amount Governor Brown said would be unfair to taxpayers. Read more from CBS Sacramento.

Hyundai recalling 15,500 Entourage minivans over rust in cold-weather states

Hyundai has increased its quality by leaps and bounds in recent years, but we're not sure the Entourage minivan is the best representation of the brand. Essentially a rebadged version of the Kia Sedona, the Entourage has been out of production for about five years now, and it's evidently run into some trouble.
The problem apparently revolves around the suspension - specifically the front lower control arm - which could rust and fracture, particularly in snow-belt states. As a result, Hyundai and the National Highway Traffic Safety Administration have issued a recall for the Entourage from the 2007 and 2008 model years, the only two years it was sold in the United States.
The recall applies to some 15,500 units sold or registered in Massachusetts, Maryland, Michigan, New Hampshire, New York, Pennsylvania, Vermont, Wisconsin, Connecticut, Delaware, Iowa, Illinois, Indiana, Maine, Minnesota, Missouri, New Jersey, Ohio, Rhode Island, West Virginia and the District of Columbia. Hyundai will notify owners as to when they should bring their vehicles in for inspection before either rustproofing or replacing the components in question. What's interesting, however, is that the nearly identical Kia Sedona has not been subject to the same recall.