J.D. Power has recognized the Chevy Tahoe as the Best Large SUV in its latest 2020 U.S. Resale Value Awards. Runner-ups in the Large SUV segment include the Toyota Sequoia and the GMC Yukon.
The J.D Power U.S. Resale Value Awards evaluates resale values in 25 different vehicle segments, analyzing transaction data via customer insights after three years of ownership. This year’s study looked at 270 different models using data from more than 592,000 transactions, with roughly 2,200 data points per vehicle. Data was collected using transaction records from May of 2020, to September of 2020, with a focus on 2017 model-year vehicles.
“The award selection process utilizes used vehicle wholesale prices, which represent how much a dealer pays for a used vehicle,” J.D. Power says. “These prices are then divided by the vehicle’s original purchase price.”
The J.D. Power U.S. Resale Value Awards is now in its third year.
“Our transaction database shows which models have the lowest depreciation costs, hence providing consumers with a key component in the total cost of ownership of the vehicle they plan to purchase or sell,” said Jonathan Banks, J.D. Powers’ vice president and general manager of vehicle valuations.
Banks added that wholesale prices remain strong, and that prices are expected to be above pre-virus levels the end of the year.
The Chevy Tahoe wasn’t the only General Motors vehicle recognized in the J.D. Power 2020 U.S. Resale Value Awards this year. In fact, The General did quite well, with the Chevy Corvette recognized as the best model in the Midsize Premium Sporty Car segment, besting the Nissan GT-R and Porsche 911, while the GMC Sierra 3500 HD was recognized as the best model in the Large Heavy Duty Pickup segment, besting the Chevy Silverado 2500 HD and GMC Sierra 2500 HD.
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Source: J.D. Power
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