One of the most anticipated moments of the year for manufacturers has arrived, in the form of the list of Canadian Black Book (CBB) winners for residual value of vehicles on the market.
In the past, we have been accustomed to the award for the best retained value of a vehicle at the end of a four-year period. This new residual value award is a first. In a nutshell, the retained value is the value that the vehicles have retained over time, while the new residual value award is for the value expected in the future.
Here are the models and brands that have been awarded.
There are fewer cars than there used to be on the market, but the categories for those that remain offer up some interesting models. Among those that retain their value over time, we find a common thread: vehicles that carry the Toyota and Lexus names.
So it is that the Toyota Camry, the Lexus IS, and the Lexus 500 LS have been recognized by CBB as the best bets in terms of residual value. They have respectively imposed themselves in the categories of generic vehicles as as well as the luxury segments.
The pickup truck segment contains relatively few players, but several of them are among the best-selling models on the market. CBB has identified two types of pickup trucks: midsize and full-size. In the first group, the Toyota Tacoma beat out its rivals, while the Ram 2500 did the same among its rivals.
The world of commercial vans was not left out by the CBB, which recognized the Ford Transit and the Chevrolet Express as models offering the best residual value in the compact and full-size segments.
Along with pickups, sports cars are among the model types that retain the best residual value in the market. In the two categories analyzed by CBB, mainstream and luxury, two sports cars were recognized: the Toyota GR Supra and the Chevrolet Corvette, respectively.
In this explosively popular sector, three awards were presented. The first one, in the subcompact and compact categories, saw the GMC Terrain come up on top, to the surprise of many. In the midsize and full-size categories, the Ford Bronco was the top model, and the Cadillac Escalade was the top luxury model.
Electric cars and SUVs under $45,000
For cars and SUVs under $45,000, which happens to be the ceiling for qualifying for federal and many provincial EV discounts, the leaders were the Kia Soul EV (which is considered a car [!]), as well as the Hyundai Ioniq 5.
Electric cars and SUVs over $45,000
Next are the other models that don't qualify for the two government rebates. Among cars, the winner is the Polestar 2, while among SUVs, the Volvo XC40 stood out for holding its value better than any rivals.
All in all, there are some familiar players on this list, but also some nice surprises. It's also proof that things are constantly evolving.
By the way, CBB also awarded awards to the best-performing brands.
When it comes to cars, we can’t say we’re surprised to see Toyota do so well. The same goes for Lexus on the luxury side. In the SUV and pickup category, the Cadillac Escalade dominates.
Finally, in the electrified products category, Kia proposes the models that lose the least value. As for the most improved brand, it's Cadillac, according to CBB.