The freshly released J.D. Power 2024 U.S. ALG Residual Value Awards picked the 2024 Chevy Corvette as one of the vehicles offering the highest three-year residual value after purchase, giving the Vette the crown in the Midsize Premium Sporty Car category.
The Chevy Corvette is one of two Bow Tie vehicles to win 2024 model-year awards, with the Chevy Trax also included among J.D. Power’s winners, and the GMC Sierra HD as the third GM model to achieve top marks for retaining value.
The Chevy Corvette was one of 28 nameplates to place at the top of their respective categories in the study. All vehicles picked as winners have the highest predicted value remaining out of the original MSRP 36 months after their initial purchase. The winners were chosen from a field of 293 models produced by 15 different automakers.
Retained value helps to determine a vehicle’s lease cost, the study points out, with the figure important both to consumers and to members of the automotive industry. Quality, design, popularity, available options and features, the current economy, and even weather trends were figured into the estimated values for the vehicles, all of which are 2024 models.
The Midsize Premium Sporty Car segment won by the Chevy Corvette is part of the overall Passenger Car division in the awards. The related Sporty Car award went to the Subaru WRX, while the Midsize Premium Car is the Jaguar XF.
Meanwhile, at the brand level, Lexus won recognition as the luxury brand with the highest three-year value retention, while the mass-market winner is Honda. ALG director of customer success Kristen Lanzavecchia said the two winners demonstrated “a measured approach in their freshening of products, trim levels and powertrains, resulting in higher residual performance and better long-term value.”
As a reminder, the 2024 Chevy Corvette lineup now includes three variants, the C8 Corvette Stingray, the C8 Corvette Z06, and the new-for-2024 C8 Corvette E-Ray.
Vette production takes place at the GM Bowling Green plant in Kentucky.
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Comments
Good to hear
Congrats Chevy for a great product!
Doesn’t really matter to the clowns that paid $100,000 over widow sticker.
Being first can be expensive. Lol
Damn nice car. Those of us who waited 12 months paid less than MSRP and got better cars.
After all the crap that went wrong with my 2005 I told myself I would never buy a First year Vette again.
No one paid less than MSRP for a C8. Not Even Mary Barra so keep dreaming. These cars will shoot up to the moon in value when GM fully shifts to exclusively EVs and Hybrids eventually.
I sold my 2021 Coupe recently and got a good trade in for it. Prices are dropping on the use car market as production continues steady, but I was happy with the value it retained.
sold my 2021 2LT coupe (non Z51), 8900 miles, 2.5 years old and got what I paid for it new (including sales tax and dealer fee). Sold it 2 months ago and thought resale values would be dropping. Sold it to a Cadillac dealer.
Gift The Super Grand Supreme Proprietor and Proprietary Owner Overall.