Jeep Avenger wins the Small BEV Autovista Group Residual Value Award 2023
20 June 2023
The Jeep Avenger has won the Autovista Group Residual Value Award in the Small Battery-Electric Vehicle (BEV) category. With a sizeable number of new all-electric models belonging to larger vehicle categories, these smaller BEVs are particularly exciting as attention turns to the mass market.
Celebrating value retention, the Autovista Group Residual Value Awards will be of particular interest to key automotive companies such as OEMs, leasing businesses and fleet operators. Drawing on Autovista Group data from up to 17 different European countries, the awards are far reaching.
An exciting category
‘We are very excited about the Small BEV category, as over the last decade there has been an increasing number of heavy, large, and expensive all-electric models,’ said Dr Christof Engelskirchen, chief economist at Autovista Group.
‘This comes at a time when mass-market adoption is the real challenge the technology is facing. The choice of small BEVs remains limited within used-car markets but there have been more new launches recently,’ he added.
The Small BEV category shortlist contained 26 cars, all of which took a top-five position within one of the 17 countries Autovista Group experts analysed. In line with the Small BEV approach, the category examined all body types in the A and B-segment, so small SUVs competed with small hatchbacks.
The top-five European models performed very well. The Fiat 500e, the Dacia Spring-e and the Hyundai Kona all frequently appeared in the top-five lists of different countries. The 500e made the shortlist in 12 out of 17 countries, Dacia’s Spring-e is attractively priced, which helped it perform well, while the Kona was also a tight contender for the crown.
But the very recently launched Jeep Avenger delivered the best performance in its category. It is brand new, sturdy, and not so small for the segment (roughly 4.1m long). It also boasts a WLTP-combined range of 395km, putting it at the top of its group. ‘Most importantly, it is the deserving RV champion within the Small BEV category,’ Engelskirchen said.
‘We are honoured to receive this important award from Autovista Group to the all-new Avenger that will support sales and growth objectives of the Jeep brand in Europe,’ Eric Laforge, head of the Jeep brand in enlarged Europe told Autovista24. He highlighted that the Avenger’s high residual value is linked to the BEV’s exceptional quality and unique positioning within the B-segment.
‘The all-new Avenger marks the Jeep brand’s entrance into the BEV arena, and it provides all-round freedom and a lot of interior room packaged in a four-metre SUV. It is very compact outside, but incredibly roomy inside with flexibility and space for people and gear. The Avenger is dynamic and easy to handle at the same time,’ Laforge added.
He pointed out that while the BEV can achieve a 400km range (WLTP), this can increase to 550km when ‘city driving’. With fast-charging capabilities, the battery can go from a 20% charge to 80% in 24 minutes. For those on the go, three minutes at the plug is enough time to provide 30km of range.
Laforge remarked that the European market has different needs and expectations, from North to South, and from West to East. But Jeep believes the Avenger can suit many different needs as the vehicle’s design and development were carried out in the region. The model entered production at Stellantis’ Tychy plant in Poland at the start of this year, so customers will soon see the benefit of this regional approach.
‘We believe Avenger is the right choice for those looking for a compact, robust and cool car, which offers state-of-the-art technology, space and comfort while delivering lots of fun,’ Laforge concluded.
High RVs and quality
Project lead Christian Schneider explained how Autovista Group experts identified the European residual value champions. Equipped with forecast trade RVs of 36-month-old cars at 60,000km, analysts examined used-car market data from February to April 2023.
Models featuring particularly high or low horsepower and price points were not included so mainstream models were central to the awards. Following this, the version of each model with the highest RV, expressed as a percentage of retained list price (%RV), was found. Vehicles were then indexed by dividing their %RV by the category’s average %RV in each available market.
The RV champions were crowned based on the category’s average index across selected countries. This was weighted against each market’s new-car sale volumes, meaning remarkable results from high-volume markets were represented.
The Jeep Avenger performed particularly well in France, reaching an indexed %RV performance of 120%, with the Small BEV category average presented as 100%. Hungary, Austria, and Belgium saw very close results, at 119%, 118% and 116% respectively.
‘The Jeep Avenger is one of the biggest surprises of 2023,’ said José Pontes, data director at EV-volumes.com. ‘The brand has picked up on a well-proven formula – small crossovers built on an established platform, in this case, Stellantis’ eCMP platform. The carmaker has managed to create a BEV with a unique and original design. This is no small feat, considering the eCMP platform has spawned nine models from six different brands.’
‘Given its approximate four-metre size, the Jeep Avenger is quite effective as a city car. It is small, even within the small crossover category, and yet it does not lose out when it comes to space and practicality. On top of this, the Jeep Avenger adds off-road ability and impressive handling, making it one of the most fun-to-drive small crossovers on the market,’ Pontes added.
New BEV, new opportunities
As the carmaker’s first small BEV, the Avenger is an important model for Jeep. Known for its rugged off-road options, the model gives the brand an opportunity to appeal to a new audience. It would certainly appeal to those looking for a small, strong and sophisticated BEV, but not a large off-road vehicle, explained Phil Curry, special content editor at Autovista24.
The brand has adapted its traditional design cues for the Avenger, meaning it is indisputably a Jeep, but not one the market may expect. In a nod to the first Jeeps, the seven-slot grill, boxy shape and rear lights styled to resemble a fuel can, all remain. The high ground clearance affords good visibility from the cockpit, yet the drive is comfortable and there is little body roll, making it feel planted on the road.
Inside, the cabin benefits from the car’s design, with plenty of headroom in both front and rear. The minimalist dashboard houses a 10.25-inch floating infotainment screen and several physical piano-style buttons, keeping that ‘rugged’ Jeep appeal. The centre tunnel also features an array of storage options that make the Avenger practical and family friendly.
‘Overall, the Jeep Avenger manages to appeal to fans of the brand, while attracting new buyers. The carmaker has worked hard on positioning the B-SUV to grow its appeal in a changing market, and it succeeds,’ said Curry.
Six more RV champions will be crowned in the coming weeks, from compact cars to large SUVs. Each Autovista24 article will feature unique Autovista Group data and industry insights. To get the latest updates on the Autovista Group Residual Value Awards 2023, subscribe to the Autovista24 daily email and follow the Autovista24 page on LinkedIn.