The GMC Sierra 3500HD was just recognized as the best Large Heavy Duty Pickup in the latest J.D. Power 2020 U.S. Resale Value Awards.
In addition to grabbing the top spot in the Heavy Duty Pickup segment, the GMC Sierra 3500HD was also recognized for having the best overall resale value in the industry of all models listed in the study.
Now in its third year, the J.D. Power U.S. Resale Value Awards look at resale values across 25 model-level vehicle segments. The study examines transaction data using customer insights after three years of ownership.
This years’ study evaluated 270 different vehicle models using a sample of over 592,000 transactions, with an average of 2,200 data points assessed per vehicle.
“The award selection process utilizes used vehicle wholesale prices, which represent how much a dealer pays for a used vehicle,” J.D. Power states. “These prices are then divided by the vehicle’s original purchase price.”
The calculations are based on wholesale records from May of 2020 to September of 2020, focusing on vehicles from the 2017 model 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 vice president and general manager of vehicle valuations at J.D. Power, Jonathan Banks. “Currently, wholesale prices remain strong and we expect prices will be greater than pre-virus levels by year’s end. However, given the volatility of the market, it’s more important for consumers to factor this information into their purchase decision.”
Source: J.D. Power