When it comes to investing in a compact SUV, Japanese models stand out for their exceptional value retention. Based on real-world data, these small Japanese crossovers are known for holding their value longer than many competitors. This reliability makes them a smart choice for buyers seeking long-term financial benefits from their vehicle purchase.
Key Japanese Models with Excellent Resale Value
Among the top contenders, several Japanese compact SUVs have proven to be particularly resilient in terms of value. Models like the Honda CR-V and Toyota RAV4 are celebrated for their durability, strong performance, and high resale value. These vehicles not only offer practical features and reliable performance but also ensure that your investment remains secure well into the future.
The 2024 BMW iX represents the German automaker’s first foray into electric SUVs, drawing inspiration from the BMW Vision iNext concept revealed at the 2018 Paris Motor Show. As a flagship electric SUV, the iX combines advanced technology and bold design with the inherent advantages of electric driving. Yet, in the competitive landscape of luxury electric SUVs, it faces formidable competition from the Tesla Model X.
Comparing Performance and Features
In a head-to-head comparison, the Tesla Model X holds an edge in several key areas. The Model X offers quicker acceleration, with the Plaid version achieving 0-60 mph in just 2.5 seconds, compared to the iX M60’s 3.6 seconds. Moreover, the Model X delivers a superior driving range—up to 348 miles versus the iX’s maximum of 296 miles. However, the BMW iX stands out with its exceptional warranty coverage, including a three-year/36,000-mile maintenance plan and extensive roadside assistance, providing valuable peace of mind. Despite the Tesla’s advantages in performance and range, the iX’s additional coverage and complimentary charging sessions offer notable benefits for those prioritizing long-term support and reliability.
Ford has decided to discontinue the 3.3-liter V6 hybrid engine option for the 2024 Explorer, maintaining the current model until the redesigned version arrives in 2025. This shift means that the Limited Hybrid and Platinum Hybrid trims will no longer be available, reflecting a broader industry trend where hybrids, despite their appeal, are sometimes overshadowed by other powertrain options. The decision aligns with Ford’s strategy to streamline its offerings as it prepares for a major update in the coming years.
Hybrid vs. Traditional Engines: Market Trends and Sales
Hybrids have gained popularity, with many buyers opting for them over purely electric vehicles. For instance, the hybrid variant of the Ford Maverick was highly sought after, though production struggled to meet demand. Conversely, the 2023 Explorer hybrid struggled with low sales figures, with a significant decline in market share from the previous year, prompting Ford to phase out this engine option.
Available Engine Options for 2024
For the 2024 model year, the Explorer will offer several engine choices. The base, XLT, ST-Line, and Timberline trims will feature the 2.3-liter EcoBoost four-cylinder engine, delivering 300 horsepower and 310 lb-ft of torque. Meanwhile, the King Ranch, Platinum, and ST trims will be equipped with a more powerful 3.0-liter twin-turbo EcoBoost V6, producing 400 horsepower and 415 lb-ft of torque, surpassing the hybrid V6’s performance metrics.
Future Prospects for the Explorer
The 2019 Explorer model will continue to serve as the current generation until the updated version arrives. Expected updates include refreshed exterior styling and a larger infotainment system. Notably, police models will retain the hybrid engine, indicating that while the hybrid option is being phased out for consumers, it remains valued in specialized applications.
General Motors has announced a delay in the production of its highly anticipated electric trucks, now scheduled to begin no earlier than 2025. This decision comes despite earlier promises of a robust electric truck launch in the near future. The delay highlights GM’s shift in focus as it continues to prioritize the production and sales of its popular full-size SUVs.
Current Focus: Full-Size SUVs and Market Trends
While GM pushes back its electric truck plans, the company is capitalizing on the high demand for full-size SUVs. These vehicles remain a strong segment of GM’s lineup, driving significant sales and profits. The strategic delay in electric truck production allows GM to solidify its position in the SUV market while working to refine its electric vehicle strategy for a more impactful launch.
Luxury SUVs have taken center stage this year, combining sleek designs with unparalleled performance and comfort. With advancements in technology and engineering, these vehicles offer a driving experience that’s both thrilling and indulgent. Whether you’re looking for speed, comfort, or style, 2023’s luxury SUV lineup has something to impress.
The Best of the Best: Features to Look For
This year’s standout luxury SUVs offer an array of features that cater to every preference. From cutting-edge infotainment systems to top-tier safety technologies, these vehicles are designed to deliver a superior driving experience. With their combination of elegance and power, they are setting new standards for what a luxury SUV can be.
Speaking of games, the midsize SUV segment is all about it. If you thought finding a good sport utility vehicle in the segment would be easy, the sheer number of options indicates that won’t be the case. Take these two hybrid SUVs from Toyota and Hyundai. The 2023 Toyota Venza is a pretty good contender against the 2023 Hyundai Santa Fe Hybrid. Here’s why: it gets better fuel economy and has a lower starting price.
The 2023 Toyota Venza is more fuel-efficient than the Hyundai Santa Fe Hybrid.
A few reasons make the 2023 Toyota Venza a good midsize SUV, and its excellent fuel economy is one of the bigger ones. For this year, Toyota decided the Venza would be hybrid only. That actually serves this SUV quite well, giving it a smooth and mostly quiet ride.
The hybrid powertrain also makes the Venza one of the more fuel-efficient SUVs in Toyota’s lineup. It gets 40 mpg in the city and 37 mpg on the highway. After driving the Venza for a week, my fuel economy numbers were usually even higher. In fact, after driving the Toyota Venza around for a week, I didn’t even need to hit the gas station before handing it over. Read more about our week with the ridiculously smooth 2023 Venza here.
The 2023 Hyundai Santa Fe Hybrid gets a lot right, but it gets interestingly low fuel economy numbers. Hyundai says it gets 33-36 mpg in the city and 30-31 mpg on the highway. Those are still respectable numbers but come in a little low for a hybrid SUV.
Don’t overlook the 2023 Toyota Venza price
The 2023 Toyota Venza price starts at $34,620 for the base LE trim, while a fully loaded Limited is $42,765. As for the 2023 Hyundai Santa Fe Hybrid, the base Blue model starts at $36,210. A fully loaded Limited trim is $41,870 for 2023. The Venza starts at $1,590 less than the Hyundai and has one extra trim option for shoppers to choose from.
2023 Toyota Venza
MSRP
2023 Hyundai Santa Fe Hybrid
MSRP
LE
$34,620
Blue
$36,210
XLE
$38,830
SEL Premium
$40,070
Nightshade
$39,955
Limited
$41,870
Limited
$42,765
The Venza LE has many safety features and technology to make life easier. That includes wireless Apple CarPlay, Android Auto, and wireless device charging. Toyota included dual-zone climate control, LED headlights, and a hands-free liftgate. We found the wireless services worked quite well in the Venza, even compared to some other Toyota SUVs. The infotainment system worked quickly, and the important settings were easy to locate and change.
The 2023 Hyundai Santa Fe Hybrid has similar offerings across the trim levels, including wireless charging and streaming services. It has many USB ports, dual-zone climate control, and a power liftgate. Hyundai included all of the important creature comforts, but the Santa Fe doesn’t offer a very plush interior. It gets the job done either way.
Toyota’s Venza interior is high-end
Though less important, the 2023 Venza interior slightly upsets the hybrid SUV. It takes cues from popular Lexus SUVs and uses high-end materials throughout the cabin. The infotainment system is easy to use, and Toyota adds plenty of convenience features to sweeten the deal. The Venza’s fuel economy is its biggest strength, but it is a well-rounded SUV in many ways.
Hyundai has a solid hybrid SUV in the Santa Fe, but it does get the best fuel economy, and the higher starting price is a detractor. The infotainment system is also slightly finicky. Overall, the Santa Fe is still an excellent SUV, but the Venza is surprisingly good in comparison. Depending on what your priorities are, the hybrid Toyota SUV might make a lot of sense.
The Toyota Corolla Cross: An Affordable Entry with Caveats
The Toyota Corolla Cross, the brand’s latest addition to its SUV lineup, shares its name with the iconic Corolla sedan. While it offers a solid value proposition, the entry-level model might not be the optimal choice for everyone. The base Corolla Cross L is budget-friendly but sacrifices some desirable features found in higher trims.
Evaluating the Base Model Corolla Cross L
The Corolla Cross L, starting at $23,610, is the most economical variant of this subcompact SUV. Despite its attractive price, this base model falls short in terms of interior quality and advanced features compared to its more expensive counterparts. It includes essential safety technologies like dynamic radar cruise control and lane tracing assist, but lacks the upgraded amenities and refinement of higher trims.
Upgrading to the Corolla Cross XLE
For those seeking a better balance of value and features, the Corolla Cross XLE stands out as a top choice. Priced from $27,715, this trim offers significant upgrades including a leather-trimmed steering wheel, wireless smartphone charging, and heated front seats. The XLE’s additional comforts and exterior enhancements make it a compelling option for long-term ownership, with the all-wheel drive version costing $29,015.
Why the Corolla Cross Hybrid Might Be the Best Choice
If fuel efficiency and advanced technology are priorities, the Corolla Cross Hybrid is worth considering. The 2023 Corolla Cross Hybrid SE, starting at $29,290, boasts impressive fuel economy of 42 miles per gallon combined and 196 horsepower. With its standard all-wheel drive and enhanced efficiency, the hybrid variant offers a superior value proposition for eco-conscious drivers.
Edmunds’ expert team has meticulously assessed a broad spectrum of SUVs to pinpoint the top models priced below $40,000. These vehicles are recognized for their economical pricing, robust performance, and high-end features, meeting a wide array of needs from family practicality to sleek, sporty aesthetics.
Detailed Overview of the Best Affordable SUVs
2024 Honda CR-V
Renowned for its ample space and smooth handling, the Honda CR-V excels in fuel efficiency and safety innovations. With a starting price around $30,000, it provides exceptional value, blending dependable performance with comprehensive reliability.
2024 Toyota RAV4
Merging tough aesthetics with a cozy interior, the Toyota RAV4 is engineered for efficiency and versatility. Starting at approximately $33,000, it offers a durable build and essential technological features, making it a favorite among SUV enthusiasts.
2024 Hyundai Tucson
The Hyundai Tucson is notable for its contemporary style and cutting-edge cabin technology. With an entry price near $32,000, it includes an extensive array of amenities such as an intuitive infotainment system and seamless driving mechanics.
2024 Mazda CX-5
Celebrated for its dynamic driving capabilities and luxurious interior, the Mazda CX-5 is priced starting around $34,000. It appeals to those seeking a vehicle that combines opulent features with exhilarating performance.
2024 Ford Escape
The Ford Escape is versatile, offering multiple engine choices and expansive cabin space, with prices starting at about $31,000. It merges functionality with comfort and modern tech, making it an ideal option for both families and daily commuters.
Key Considerations for Budget-Conscious SUV Buyers
Navigating the market for an SUV under $40,000 poses challenges, yet Edmunds’ selections stand out for their exceptional value and functionality. Each model is equipped with critical safety technologies, plush interiors, and steadfast performance. These SUVs are crafted to offer an optimal balance of affordability and quality, targeting budget-savvy consumers seeking dependable, feature-rich vehicles.
Mercedes-AMG has recently introduced an exciting addition to its fleet, the GLC 63 S E PERFORMANCE SUV, marking a significant step in the brand’s hybrid technology journey. This model expands Mercedes-AMG’s E PERFORMANCE hybrid lineup, demonstrating the company’s commitment to combining luxury with eco-friendly innovations. The launch of this vehicle signifies a shift towards more sustainable performance vehicles that do not compromise on power or prestige.
Cutting-Edge Features and Performance
The GLC 63 S E PERFORMANCE is designed to deliver an exceptional blend of power, efficiency, and advanced technology. It features a robust hybrid engine that promises thrilling acceleration and improved fuel efficiency, setting a new standard for performance SUVs. With state-of-the-art interior technologies and a dynamic driving experience, this SUV is tailored for enthusiasts who seek the thrill of a sports car with the practicality of an SUV.
Impact on the Luxury SUV Market
The introduction of the GLC 63 S E PERFORMANCE is poised to redefine the luxury SUV market by providing a sustainable alternative that meets rigorous environmental standards without sacrificing luxury or performance. This move is expected to influence other automakers to accelerate their own developments in hybrid technology, leading to wider adoption of eco-friendly vehicles across the luxury segment. Mercedes-AMG’s commitment to innovation and sustainability is set to encourage a shift in consumer preferences towards greener automotive solutions, reinforcing the brand’s leadership in the luxury automotive industry.
In a surprising turn of events, Volvo is set to launch its inaugural minivan, the EM90, in 2024, marking its first foray into this vehicle category. The move, initially unexpected, aligns with Volvo’s strategy under the ownership of China’s Geely, which aims to leverage economies of scale across its various automotive brands. The EM90 is essentially a rebadged version of Zeekr’s recently introduced minivan, the 009, another Geely subsidiary, showcasing a shared platform that enhances both brands’ offerings in the electric vehicle market.
Design and Features of the Volvo EM90
Dubbed a “Scandinavian living room on the move,” the Volvo EM90 is impressively sized, mirroring the dimensions of luxury on wheels with its vast interior space optimized for comfort and style. It measures over 205 inches in length and features a sleek design with a drag coefficient of just 0.27, making it aerodynamically efficient despite its substantial size. Inside, the layout offers various configurations, including a luxurious 2+2+2 setup, providing ample room and a premium feel that distances it from traditional minivan designs.
Performance and Market Integration
The EM90 differentiates itself from its Zeekr counterpart with unique styling cues and a Volvo-branded aesthetic, including a distinctive fascia and minimal exterior tweaks like added chrome trim. It boasts a robust 268 horsepower from a single rear-mounted motor, with an optional dual-motor setup that skyrockets its output to 536 horsepower, allowing it to achieve 0 to 62 mph in just 4.5 seconds. Additionally, it features a cutting-edge battery system from CATL, offering up to 511 miles of range on a single charge, addressing any concerns about electric vehicle range limitations effectively.
Volvo’s Market Strategy and Future Outlook
The production of the EM90, set to commence in China post-New Year, represents a significant step in Volvo’s electric vehicle strategy, potentially setting a new standard for luxury electric minivans. While initial releases are slated for the Chinese market, the global potential for such a vehicle is substantial, given the growing demand for versatile, high-performance electric vehicles. Volvo’s cautious approach to confirming markets outside of China, including the U.S., suggests a strategic wait-and-see approach to gauge initial reception and adapt its strategy accordingly. This move could redefine consumer expectations for what a minivan can offer, merging traditional family vehicle utility with the performance and luxury of modern EVs.
