IRVINE, Calif., Nov. 21 /PRNewswire/ -- JaguarLand Rover North America, LLC today announced that it has received two Residual Value Awards from Automotive Lease Guide (ALG). ALG's 10th annual Residual Value Awards, for the 2009 model year, honored the vehicles in each industry segment that ALG predicts will retain the highest percentage of their original price after a conventional three-year lease term.
Land Rover's Range Rover Sport won the award in the Luxury Utility Vehicle category, while the Land Rover LR2 was the winner in the Near Luxury Utility Vehicle category. Land Rover also placed fifth overall for the Luxury Brand Residual Value Ranking. Range Rover Sport has consistently been an ALG award winner for the past four years, whereas this is the first ALG win for LR2.
ALG determines the award winners after carefully studying the competition in each segment, historical vehicle performance and industry trends. Vehicle quality, production levels relative to demand, and pricing strategies are among the key factors that affect ALG's residual value forecasts. The complete list of this year's awards can be found on www.alg.com.
"We understand the importance of residual values at such a crucial time for automotive manufacturers and are delighted by this recognition," said Chris Marchand, executive vice president of Marketing and Sales, Land Rover North America.
"We believe Residual Value remains the best metric for evaluating the overall strength of an automotive brand, and we congratulate Land Rover for the proven success of their Range Rover Sport and LR2 models," said John Blair, Chief Executive Officer of Automotive Lease Guide.
About Land Rover
Since 1948 Land Rover has been manufacturing authentic 4x4s that represent true 'breadth of capability' across the model range. Defender, LR2 (Freelander 2), LR3 (Discovery 3), Range Rover Sport and Range Rover each define the world's 4x4 sectors, with 78% of this model range exported to over 140 countries. Land Rover employs 8,500 people and supports a further 40,000 jobs supported in the supply chain.
Land Rover takes its responsibility to the environment seriously. Emissions have been cut with all new models and, together with Jaguar, it is investing 700m pounds Sterling on technology specifically aimed at reducing carbon dioxide emissions. Also, since September 2006, carbon dioxide generated by Land Rover manufacturing activities and UK customer vehicle use has been balanced through an industry leading offset program run by Climate Care.
About ALG (www.alg.com)
Based in Santa Barbara, California, Automotive Lease Guide (ALG) is a leading provider of data and consulting services to the automotive industry. ALG publishes the "Automotive Lease Guide" - the standard for Residual Value projections in North America, and has been forecasting automotive residual values for over 37 years in both the U.S. and Canadian markets. ALG is a company of DealerTrack Holdings, Inc. .