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NEW YORK (CNN/Money) -
General Motors and Ford earned a record number of awards while Lexus ranked highest in long-term dependability for the 11th consecutive year, according to J.D. Power and Associate's latest Vehicle Dependability Study.
Overall, the auto industry recorded substantial improvements in long-term vehicle quality in 2005, according to the survey.
Toyota's Lexus brand had the fewest number of reported problems with 139 problems per 100 vehicles. (The average number of reported problems across the industry is 237 problems per 100 cars.)
Porsche ranked No. 2 after making the greatest improvement from last year, while Hyundai, while still coming in below average, had the biggest decrease in problems compared to 2004.
General Motors and Ford Motor Co. topped a record number of vehicle categories in the study, with eight and five respectively.
"Our studies consistently show that long-term durability is a tremendously important factor for consumers," Chance Parker, executive director of product research analysis at J.D. Power and Associates, said in a statement.
"The study also finds that long-term durability can have a significant impact on a vehicle's retained value," he added.
According to the study, three-year-old (2002 model-year) cars that perform above the industry average typically retain $1,000 more of their value than cars performing below the industry average.
The Westlake Village, Calif.-based firm's 2005 Vehicle Dependability Study was based on responses from 50,635 owners of 2002 model-year cars and light trucks.
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