The Chevy Silverado 2500HD has received a J.D. Power Canada ALG Residual Value Award in the heavy-duty full-size truck segment.
ALG, the official residual-value arm of global research firm J.D. Power, published the results of its 2022 Canada Residual Value Awards last week. General Motors Canada performed admirably in this study with the Detroit-based automaker’s Canadian subsidiary being one of the brands with the most segment-level awards.
In addition to the Chevy Silverado HD, the 2022 model year GM vehicles recognized for strong residual values in this study were the GMC Yukon, GMC Savana, Chevy Bolt EV, 2022 Chevy Corvette Stingray and Cadillac Escalade.
Eric Lyman, vice president of ALG, was impressed with the fact that Chevy managed to secure residual awards in three very different vehicle segments.
“Noteworthy is Chevrolet’s success across a variety of key segments—EV, full-size heavy duty pickups and performance sports car—that showcase the brand’s enviable product diversity,” Lyman said.
The only automaker to outperform GM in this study was Toyota, which won awards for its popular Camry sedan, along with the RAV4 crossover, Highlander and 4Runner SUVs, Tundra and Tacoma pickups and Sienna minivan.
“There’s not much brand diversity in the winners for 2022, meaning that the few brands at the top have found their niche—especially Toyota with its continued dominance in the utility and pickup segments,” Lyman observed.
GM will launch its own used car sales service this year called CarBravo, which will sell used examples of both GM vehicles and vehicles from other automakers. The launch of this service will make residual values even more important to GM going forward, as it may stand to gain a bit more from sales of vehicles that come off-lease or are repossessed.
Subscribe to GM Authority for more Chevy Silverado news, GM residual value news, Chevy news, and around-the-clock GM news coverage.
No Comments yet