Hyundai's Santa Fe tops residual value for SUV

Hyundai Motor Co.'s sports utility vehicle Santa Fe has been named the best residual value car in the segment by a U.S. automotive guide, the company said Thursday.

The company said the September-October issue of the Residual Guidebook published by Automotive Lease Guide (ALG) rated the 2013 Santa Fe as retaining the most value three years after purchase.

Hyundai said ALG gave the Santa Fe a residual value of 56.8 percent, which is 5.4 percent higher than the average for the SUV segment, including such vehicles as the Subaru Outback, Toyota Venza and Ford Explorer.

The ALG's value can affect used car prices as it is a key barometer for people buying cars in the United States.

The Santa Fe has shown great improvement in value since the model made its U.S. debut in 2007, when it received 44.8 percent, added the South Korean carmaker. (Yonhap)