The all-new 2024 Chevy Trax vindicated its popularity in the J.D. Power 2024 U.S. ALG Residual Value Awards by winning the top segment model award in the “Micro SUV” category, part of the utility vehicle division.
According to the results released on November 16th, the affordable compact crossover was one of the best models for holding residual value out of a field of 293 nameplates across 15 major brands.
The ALG Residual Value Award, provided by ALG, J.D. Power’s automotive residual value division, evaluated the Chevy Trax and the other candidates via “analysis of used-vehicle performance, brand outlook and product competitiveness.” The numbers are crunched using the work of analysts, algorithmic modeling, and artificial intelligence or AI to get as detailed and accurate a picture as possible.
The Residual Value Award given to the Chevy Trax and the other winning vehicles for 2024 indicates these models will keep the biggest amount of MSRP as value over the first three years of ownership. ALG notes that the ability of a vehicle model to keep value and lose less worth to depreciation than other cars in its segment is important to lease cost and predicting end-of-lease value.
Inputs to picking the winning vehicles include what the market reveals about a model’s desirability to customers – a strong point of the Chevy Trax, which is a successful Chevy brand ambassador – along with its “long-term quality and design.” Performance of the vehicle when used, mix of trim levels, available features and packages, and the overall performance of the automaker are also weighed.
The study and analysis for the Award doesn’t just evaluate the cars in a vacuum. Current trends, the economy, and even the weather and climate conditions vehicles are predicted to be exposed to are considered when choosing the winners, too.
At the bottom line, ALG customer success director Kristen Lanzavecchia says models are picked based on “higher residual performance and better long-term value for their customers.” This is particularly important, the analysis points out, because residual value has become a very important component of buying decisions for new car buyers.
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Comments
At least it’s won SOMETHING. After being snubbed for all the OTY awards.
Good to see. I just traded my ’19 Colorado with 89k miles on a Cacti ’24 Trax Activ yesterday, and so far I’m lovin’ it.
That’s what I have! I love it. So much car for such little money, relatively speaking of course.
How long does it take when ordering and, building one too get to the dealership LS Chevy Trax
Probably a little bit, since you’d have to account for the boat ride here across the Pacific.
It’s been over 3 months that’s why I asked,does anyone out there know
I’ve been waiting since the end of August and still waiting patiently.
I’m in MA what part of the country are you in,the dealership told me it would take about 8 weeks it’s almost double that.
Mine took 4, almost 5 months but I ordered the – at the time – late release Cacti Green and the “whoops, we ran out” Rear Parking Assist so it got held back an extra month. Worth the wait for me, though your mileage may vary.
We ordered an LS from.a Chevy dealer where we live in Central Pa with two packages on it. It turned out that the dealer checked their orders and found one that they ordered 2 months previously . It had exactly what we had ordered and wanted on our Chevy TRAX LS, so we waited . From time of original order by the dealer to time of delivery was about 13 to 14 weeks total. Hope this info is helpful.
The 2015 and the 2024 Trax are completely different vehicles, they only have the same name.
Waiting for seat cushion update. When I test drove one the drivers seat felt like I was sitting on a lightly padded board.
Just picked up our Trax a few days ago. Cacti color. Love it. It will be my wife’s car. Getting many comments on color. Waited 4 months. Its a great value !!
Firmer seats help on longer drives. My seat feels just fine, although I would like a little more lateral support. My GTI hugs me like an old friend, my Trax feels like visiting Santa at the mall. Familiar….but not affectionately so.
We’ve been waiting for a 2024 Trax LS since the middle of July. It’s scheduled build date was the first week of August. Still no definite ETA from the dealer; only that “it’s coming”. We were told that the 2RS they ordered took about 4 months from build date to arrival.
Update:
Should be here before the end of the year!
I don’t believe a dealer can actually order a korea-built trax/trailblazer/ encore/envista. The plant builds what marketing told them to build, based on guesses about demand. Dealers can submit a preference for trim,color,etc. When the vehicles arrive at the port, those dealer preferences are matched up to availability as best possible. Still, it’s a roll of the dice as to what exact equipment will be delivered. People don’t really understand the process and Dealers are happy to let people believe they “ordered” a car when that’s not quite true. If you don’t have a 6-letter order code you can track on the gm website, you don’t have an order in process.
These are great little cars for the price, but getting one exactly how you want it is nearly impossible. You will take what is available and you’d best not take long deciding because they do not sit in inventory.
Yes, they can. Mine did it for me. I walked it with my build sheet printed from Chevrolet.com, we sat down and checked all the boxes and 4 1/2 months later it’s sitting in my driveway exactly the way I ordered it. It’s a very easy process to understand. You order it, put down a deposit and then you wait until it shows up. Easy peasey. It was nowhere near impossible to get mine the way I wanted.
We have a 6-digit order code. (4 letters & 2 numbers) We’re looking forward to getting it. We never got a chance to drive an LS. The one we test drove was a 2RS in a different color than what we ordered. We weren’t a fan of the larger infotainment screen or the push-button start of the 2RS, which is why we ordered an LS. The photos of the LS show a similar gauge layout to our 2015 Cruze 2LT/RS as well as a keyed ignition.
Dealers can order the Trax or use Port Delivery. Unless you want one of the unique colors Port Delivery will already have your model and options. The Trax has no AWD or many options.
Any residual value advantage is eroded away by the numerous dealers charging upwards of $2K-$3K over MSRP for the new Trax. Even more amazing are the customers willingly paying these markups on what is intended to be an entry level vehicle. GM’s plan was to have 184,000 units available by the end of 2023. That should be plenty to go around for all of those interested in getting one [and without having to pay more than MSRP.]
I’m not in the market for one but when I sat it at a autoshow it was nice. It surprised me a lot. If I needed a small car/cuv this would be my first pick. Front wheel drive is fine for most people even in snowy states. I got around fine in my cruze in snow and with this having a better ground clearance should be a issue for most.
Regarding length of time to get a order. I’m in the market for a Canyon at4x and the dealer said to order one it will be 8-10 months and then it depends on their allotment. The best advice he gave me was don’t order it with options other than what is in the packages otherwise it could take longer. Best to buy some options after you get the vehicle.
That is really nice. Just goes to show when you design and build a nice vehicle, it will sell and do well. IMO, it also shows that the majority of buyers don’t even care or know what’s under the hood or what trans it has. I know there’s been many on here saying negative things about it having a 3 cyl and some not happy with it having the (great) 6 speed trans. Personally, if I wanted an SUV type vehicle, I’d happily get a Trax especially because I like that engine/trans combo. But again, my point is that so many buyers just don’t care. If they like the way it looks and it drives well, they buy.
So the Trax is a nice looking crossover. It’s well packaged. It has an attractive price even in top trim. From what I read, it drives quite well. Now with this, it’s just icing on the cake. Good job GM on this vehicle. Now design and build us a fantastic new 2025 Malibu and give us a Buick version of that as well.