As soon as a vehicle drives off the dealer lot, its value usually plummets. Given the current state of the new- and used-car market, resale value is more important to prospective buyers than ever before. To help consumers decide which vehicles lose less value than others, J.D Power has just released its 2023 ALG Residual Value awards, and the Hummer EV Pickup is among the honored.
The only GMC product to make the cut this year was the Hummer EV Pickup. This means GMC was one of five brands to only have one vehicle awarded. The four other brands fielding one product with high residual value include Acura, Audi, Jeep and Subaru.
As a whole, only three GM vehicles received awards, as the Hummer EV Pickup was joined by the Chevy Silverado 2500 HD and Chevy Bolt EV.
At the top of the podium was Kia, which fielded a total of five different nameplates with high resale value recognition. Following closely was Honda and Toyota with four models each, while Land Rover took home three awards. Lexus, Porsche and Mercedes-Benz were each handed two trophies.
To evaluate vehicles for its residual value awards, J.D Power’s ALG division looked at 13 different brands. These automakers received awards in 29 segments, which is six fewer brand recipients than a year ago. The 2023 award process consisted of evaluating 291 models through analysis of used-vehicle performance, brand outlook and product competitiveness. Eligibility requires an automaker to have model line entries in at least four different vehicle segments.
To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line. For a segment to qualify for an award, at least four different brands must be included.
As a reminder, GMC Hummer EV Pickup is produced at the GM Factory Zero plant (née GM Detroit-Hamtramck plant) in Michigan. Output is sourced from GM Ultium batteries and GM Ultium Drive motors, with the Hummer EV Pickup Edition 1 model producing 1,000 horsepower and 11,500 pound-feet of wheel torque.
The GMC Hummer EV Pickup also rides on GM’s dedicated “body-on-battery” or “Ulti-body” electric BT1 platform.
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Comment
This is laughable, how many have been sold, 10?