1 of the Best Small Luxury SUVs Has Average Resale Value
The 2023 Lexus UX is among the best small luxury SUVs. This is the case not only because it offers luxury at a competitive price but also because it has some exciting features. However, despite its many strong suits, the Lexus UX only has average resale value. This means that buyers who typically only keep their vehicles for a few years wouldn’t get nearly as much for the vehicle if they sell or trade it in.
Here’s a look into why the 2023 Lexus UX only has average resale value despite people considering it one of the best small luxury SUVs.
The Lexus UX resale value is lower than expected
Most people assume that when a vehicle is popular, it also has a high resale value. However, the Lexus UX is proof that this is not always the case. According to J.D. Power, the 2023 Lexus UX has a 78 out of 100 in resale value, which is only average. Of course, this is only a forecast, as it predicts how much the vehicle will depreciate over three years. However, J.D. Power is one of the authorities in this area of the automotive world.
As mentioned before, the resale value of a vehicle is important like the Lexus UX. It’s perhaps most important because it determines how much the SUV will be worth in the future. The lower the resale value, the less money you’ll get when you trade in or sell the vehicle. This is why doing research before investing in a new vehicle matters.
Resale value is also important because it’s, in many ways, a direct correlation to the vehicle’s quality and reputation. If organizations perceive vehicles like the Lexus UX to have lower quality, it will have a lower resale value. This low or average resale value could also mean you’d have issues with it during ownership.
Regarding the 2023 Lexus UX, it’s necessary to examine how J.D. Power ranks it in other areas. The vehicle has 81 out of 100 for quality & reliability, which is great. However, it’s only average when it comes to driving experience. J.D. Power uses performance, comfort, design, and other components for this evaluation. The SUV’s popularity could mean that many people buy the Lexus UX because it’s a more affordable luxury SUV, even though it’s lacking in a few areas. Including its resale value, the Lexus UX is only average in most key areas.
The UX offers average performance
Despite people considering it one of the best small luxury SUVs, the 2023 Lexus UX delivers only average performance. It comes with a 2.0-liter inline-four hybrid setup that has a maximum output of 181 hp. It has front and all-wheel drive configurations and uses a continuously variable speed automatic transmission.
Regarding speed, this hybrid SUV needs over eight seconds to accelerate from 0 to 60 miles per hour. Of course, fuel economy is a strong suit here as it averages 43 MPG in the city and 41 MPG on the highway. In addition to falling short regarding performance, the UX might also have a lower resale value because it’s lacking in interior space as well as room for cargo. Most of its luxury rivals come out on top of the SUV.
Overall, the 2023 Lexus UX isn’t a bad SUV. However, it’s also not the most exciting, nor will it be super valuable in the future. In terms of price, the vehicle starts at $33,340. Of course, those who plan to keep the Lexus UX long term may not care about its resale value.