Canadian Black Book (CBB) has announced the winners of its first-ever Best Residual Value Awards, which recognize the new car, truck, and SUV models expected to retain the most resale value in the future.
CBB says the Best Residual Value Award program predicts how much of its original MSRP a new vehicle will retain after four years of ownership and 24,000 km of annual driving. This new program complements CBB’s existing Best Retained Value Awards, which call out the four-year-old vehicles of today with the highest resale values.
In a press release, CBB says the new awards “better represent the dynamic of today’s Canadian auto market,” in part by recognizing the battery electric vehicles with the highest predicted residual values in four categories.
CBB says that, going forward, we can expect some overlap between the Best Residual Value and Best Retained Value Awards. For example, the Toyota Tacoma, CBB’s top choice in the new residual value awards’ small pickup category, was also best in class in last year’s retained value program.
In fact, Toyota did well in the inaugural Best Residual Value Awards: it was named the top overall car brand, while its upscale Lexus division topped the luxury category. Cadillac is the best SUV/Truck brand, and Kia is this year’s best zero-emissions vehicle company.
Toyota and Lexus models were also named category winners in several of the Best Residual Value Awards’ 16 individual vehicle classes. The company dominates the car segment, with the Camry named this year’s best mainstream model, the Lexus IS selected as top model in the luxury category, and the Lexus LS 500 taking the top prize among prestige cars. The Toyota GR Supra is CBB’s top sports car for predicted residual value and, as mentioned above, the Tacoma mid-size pickup finished first in the “small” pickup class.
General Motors won four awards: The Chevrolet Express is CBB’s favoured full-size van for residual value; the Chevrolet Corvette is best among luxury sports cars; the GMC Terrain is the top compact/subcompact SUV; and the Cadillac Escalade won the top prize in the luxury SUV class.
Stellantis took home a single award for its Ram 2500 heavy-duty truck, which CBB named the best full-size pickup. Finally, the Hyundai Motor Group and Volvo each won two awards in the ZEV (zero-emissions vehicle) category: the Kia Soul is the top EV car below $45,000 and the Hyundai Ioniq 5 is CBB’s top EV SUV below $45,000; and the Polestar 2 and Volvo XC40 are the winners in the EV Car and EV SUV above $45,000 categories.