Jeep Wagoneer Earns Highest Ranking for Large SUV During J.D. Power 2024 U.S. ALG Residual Value Awards
As the year comes to a close, a lot of new consumers are going to be entering the auto market for a new car. Some of this is thanks to all the holiday deals and discounts going on around this time of the year, but there’s also something akin to the “new year, new me” ideology that sometimes also expands to getting a new car. With so many options on the market, and a shifting trend towards battery-electric vehicles (BEVs), consumers want to know if their vehicle will hold up five or ten years from now when the market is completely different. That’s where organizations like J.D. Power come in, having recently concluded its 2024 U.S. ALG Residual Value Awards. As usual, Stellantis automaker Jeep® and Ram Truck prove that their value lasts for years to come.
Unlike most J.D. Power studies, the Residual Value Awards don’t just focus on the quality of a vehicle after 90 days of ownership, nor do the results rely on survey responses. Instead, the study places a focus on vehicles three years after ownership. Results are based on a combination of J.D. Power insights and data with the deep experience of ALG in residual values.
The study takes a look at areas of long-term quality and design and the projected value of a vehicle compared to the original suggested retail price following a three-year period of ownership. Every year, J.D. Power evaluates a vehicle’s residual value based on a number of factors, including mileage, quality/reliability, options, and feature sets, weather, and macroeconomic environment. For the 2024 model year, 15 different automotive brands were rated across 28 segments. Overall, 293 models were evaluated and analyzed for used vehicle performance, brand outlook, and product competitiveness. To account for the differences in trim levels, the average sales for a model are based on a percentage share relative to the entire model line.
This year, the Jeep Wagoneer is taking home some well-earned praise, earning the highest rank for the “Large SUV” segment this year. Still fresh to the auto industry, Wagoneer is the luxury brand for the off-road automaker, and the Grand Wagoneer and Wagoneer continue to embody the on-road and off-road performance of the Jeep name. Equipped with an electronic rear limited-slip differential to keep traction and stability at all times, Jeep Selec-Terrain traction management system comes standard with a 4×4 drivetrain. Consumers can also benefit from off-road systems such as Quadra-Trac I, Quadra-Trac II, Quadra-Drive II, and Quadra-Lift air suspension for even more capability.
“This repeat distinction demonstrates Wagoneer is more than a trailblazer for cutting-edge innovation and style…Wagoneer consistently delivers the most fundamental requirement of a sales transaction – lasting value for the customer. And that’s something we will never lose sight of.” – U.S. Head of Sales Jeff Kommor
For the 2024 U.S. ALG Residual Value study, the Wagoneer is joined by the Jeep Wrangler, earning the highest rank for “Off-Road Utility Vehicle”. Another Stellantis brand also bathes in the glory – Ram Truck. For 2024, the Ram ProMaster earned the highest rank for the “Commercial Van” segment.