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Honda, Hyundai top car residual value / depreciation awards list

J.D. Power announced its 2022 U.S. ALG Residual Value awards Thursday, with Honda and Hyundai topping the charts at three models apiece in the industry-standard study. The term "residual" is an industry projection of how well a car will hold its resale value three years from the original purchase date – a key metric in calculating lease costs and projecting new-car depreciation.  Award winners included several enthusiast-friendly options, including the BMW 2 Series, Dodge Charger, Subaru WRX, Mercedes-AMG GT and Toyota Tacoma. Even the Ford Bronco was recognized, beating out the Jeep Wrangler in the Off-Road Utility segment. That may seem odd given the car's issue-plagued launch, but scarcity apparently trumps quality control issues over the longer term. Here's a scrolling complete list of winners broken down by segment: “Accurately forecasting residual values in the auto industry is a key factor in assessing an estimated $225 billion lease portfolio of vehicles in the United States,” said ALG VP Eric Lyman in the company's announcement. "The brands and vehicle models that rise to the top demonstrate that they score well across the award programÂ’s criteria, including manufacturersÂ’ superior design and quality." ALG looks at several factors to determine future value, which is especially tricky with new models. For 2022, 16 different brands were recognized across 29 segments. Behind Honda and Hyundai, Audi, Kia, Mercedes-Benz, Land Rover and Subaru all managed to chart with two different models. Here's the rundown of those who won in more than one category: Honda Civic Honda Passport Honda Odyssey Hyundai Accent Hyundai Kona Hyundai Kona EV Audi A6 Allroad Audi Q3 Kia K5 Kia Telluride Land Rover Range Rover Velar Land Rover Discovery Mercedes-AMG GT 4-Door Mercedes-Benz Metris:  Subaru  WRX and  Subaru Forester Toyota Tacoma  Toyota Tundra "The award process consists of evaluating 284 models through analysis of used-vehicle performance, brand outlook and product competitiveness," the announcement said. "Eligibility for a brand award requires a manufacturer to have model entries in at least four different segments. To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line."   Audi Honda Hyundai Kia Land Rover Mercedes-Benz Subaru Toyota

Mazda and Toyota formally announce plans to 'make cars better'

Following Monday's report that Toyota and Mazda could be expanding their cooperation, the two Japanese automakers have made it official, issuing a joint press release announcing a "mutually beneficial long-term partnership" that will "make cars better." The two companies will set up a joint committee to figure out the strengths and weaknesses of each party. As we explained yesterday, that likely means Mazda will benefit from Toyota's plug-in-hybrid and fuel-cell tech, while the world's largest automaker can take advantage of the Zoom-Zoom automaker's line of efficient Skyactiv engines. "I am delighted that our two companies can share the same vision and work together to make cars better. I can think of nothing more wonderful than showing the world – together – that the next 100 years of cars will be just as fun as the first," Toyota President Akio Toyoda said in the attached joint statement. Mazda President and CEO Masamichi Kogai echoed that sentiment, saying: "I hope that by working together to make cars better, we can raise the value of cars in the eyes of consumers while also enhancing the manufacturing capabilities of our home, Hiroshima, and all the communities we are involved in as well." Scroll down for the official joint press release. Toyota and Mazda Team Up to Make Cars Better Tokyo, Japan, May 13, 2015-Toyota Motor Corporation and Mazda Motor Corporation today entered an agreement to build a mutually beneficial long term partnership. By leveraging the resources of both companies to complement and enhance each other's products and technologies, the partnership will result in more appealing cars that meet the diverse needs and tastes of customers all over the world. A joint committee will now be set up to evaluate how best to utilize each company's respective strengths. The committee will encourage broad and meaningful collaboration across a range of fields, including environmental and advanced safety technologies. Marking the agreement, Toyota President Akio Toyoda said: "As evidenced by their SKYACTIV Technologies and KODO-Soul of Motion design, Mazda has proven that it always thinks of what is coming next for vehicles and technology, while still managing to stay true to its basic carmaking roots. In this way, Mazda very much practices what Toyota holds dear: making ever-better cars. I am delighted that our two companies can share the same vision and work together to make cars better.

Recharge Wrap-up: BMW i8 Futurism Edition, Tesla picks Hankook for Model 3

BMW Italia has created a special edition BMW i8 to celebrate 50 years of the German automaker in Italy. The BMW i8 Futurism Edition, made in partnership with Garage Italia Customs, replicates artist Giacomo Balla's "Lampada ad Arco" on the car. The special edition i8 will take part in the 2016 Mille Miglia, following a BMW 328 driven by BMW Italia President and CEO Sergio Solero. The car "represents the pairing of a sports car of the future with Italian creativity and art," says Solero. See how it was made in the video above, and read more in the press release below. The Toyota Mobility Foundation has joined the New Cities Foundation (NCF) as a Global Strategic Member. The organizations will work together on research and initiatives to improve lives through better mobility. Toyota Group Vice President and Chief Diversity Officer Latondra Newton will serve on the NCF's Board of Trustees. "Our expanded partnership with New Cities Foundation will allow us to advance our work by joining a global network of leaders who are focused on solving the most pressing challenges to cities around the world," says Newton. Read more from Toyota. Electric bus manufacturer Proterra has created a simulator to help fleet managers assess the benefits of using EVs. The Proterra EV Simulator allows for a comparison of its electric buses alongside diesel, CNG, and hybrid buses on specific routes within a transit system. It uses Google Maps plus data and algorithms from two million miles of real-world driving to compare costs, performance, and environmental benefits, taking into account variables like routes, local temperatures, and passenger loads. Proterra will display the simulator at the American Public Transportation Association Bus and Paratransit Conference on May 17. Read more from Proterra. Tesla has chosen Hankook as the tire supplier for its upcoming Model 3 EV. According to Korean network Arirang News, Tesla chose Hankook after sampling various offerings from companies around the globe. Hankook will build the tires specifically for the Model 3 with the goal of minimizing driving range losses. The value of the contract has not been disclosed. See more from Arirang News, and read more at Teslarati. BMW Italia and Garage Italia Customs present the BMW i8 Futurism Edition. The initiative is part of the 50th anniversary celebration of BMW history in Italy.