Honda Passport Achieves Leading Residual Value in Mid-Size 2-Row SUV Segment
February 22 2024,
The Honda Passport has been awarded the J.D. Power Canada ALG Residual Value Award for the fourth time in five years, solidifying its position as the top vehicle in terms of residual value among mid-size SUVs with 2-row seating. This award is a significant indicator of the Passport's ability to maintain its value over time, offering a strong proposition for potential buyers.
J.D. Power's assessment places the Honda Passport at the pinnacle of its class for residual value, indicating that it is expected to retain a greater percentage of its initial cost than any other mid-size 2-row SUV. This distinction is crucial for consumers who consider the depreciation factor a major aspect of the purchase decision.
Honda Canada's Assistant Vice President, Steve Hui, expressed his pride in the Passport's recognition by J.D. Power, highlighting the importance of the 2024 Canada ALG Residual Value Awards. These awards are a testament to a vehicle's enduring quality, reliability, and safety, reflecting Honda's dedication to these principles across all its models.
The J.D. Power Canada ALG Residual Value Awards are renowned for their rigorous evaluation process, recognizing vehicles that are projected to maintain the highest proportion of their MSRP after a three-year period. This accolade is invaluable for buyers contemplating the overall cost implications of owning a vehicle, whether through financing, leasing, or an outright purchase.
In summary, the Honda Passport's continued recognition for its residual value reinforces its status as an attractive option for buyers seeking a mid-size SUV that combines durability with economic value. This award not only highlights Honda's commitment to producing high-quality vehicles but also provides consumers with confidence in their investment, knowing the Passport is a financially sound choice that stands the test of time in the automotive market.
