The Unlikely Heroes of the Automotive World
When it comes to cars, many of us dream of owning a sleek, high-performance European sports car. However, two Japanese brands, Toyota and Honda, have consistently proven themselves to be the dark horses of the industry. Despite being labeled as “boring” by some, these brands have managed to maintain an impressive reputation for quality, durability, and reliability, resulting in enviably high resale values.
A Reputation Built on Discipline and Quality
Toyota has taken the top spot on Kelley Blue Book’s Best Resale Value list an impressive eight times since 2014, including the last four consecutive years. Its luxury brand, Lexus, has won the award for luxury cars five times. Honda, on the other hand, has taken the mainstream category. So, what’s behind their success? According to industry experts, it’s a combination of pricing and production discipline, a reputation for quality and durability, and a deep understanding of customer needs.
Listening to Customers, Building to Last
Toyota and Honda have mastered the art of listening to their customers and building cars that meet their needs. “The market tends to have much greater demand than Toyota supplies up front, which keeps resale high, which keeps consumers happy, and the cycle continues on and on,” says Tyson Jominy, vice president of data analytics at J.D. Power. This approach has allowed them to build a loyal customer base and maintain their position as leaders in the industry.
The Future of the Auto Industry
However, the auto industry is undergoing a significant transformation, and the very strengths that have helped Toyota and Honda succeed may soon become liabilities. As the industry shifts towards electric and autonomous vehicles, these brands will need to adapt quickly to stay ahead of the curve. Will they be able to maintain their position as leaders, or will new players emerge to take their place? Only time will tell.
Leave a Reply