The 17th edition of the Canadian Black Book (CBB) Best Retained Value Awards has just revealed its winners for 2024. From the outset, the press release issued by the CBB notes a notable drop in the average retained value of vehicles, which decreased from 77% to 67% of the original MSRP compared to the previous year.
Electric vehicles in the spotlight
The award for Best Residual Value, BEV (Battery Electric Vehicles) category, was awarded for the fourth consecutive year, highlighting the growing importance of electrification in the industry. In the main BEV category, the Volkswagen ID.4 stood out, while the Porsche Taycan was recognized in the luxury BEV category.
Toyota in the lead, the Tacoma in force
The Toyota brand confirms its leadership position with seven victories, consolidating its dominant role in the sector. Among its notable achievements, the Toyota Tacoma won the award in the small pickup category for the 16th consecutive year, an all-time record for these honors. Additionally, Toyota won the SUV: Main Sub-Compact category, breaking Subaru’s two-year streak.
In a press release issued on October 30, 2024, Toyota reminds that the Canadian Black Book Best Retained Value Awards highlight vehicles that retain the highest percentage of their initial Manufacturer’s Suggested Retail Price (MSRP) after four years. For 2024, the CBB program analyzed 2021 model year vehicles in 15 categories, plus five brand categories for overall ranking.
“At this time when long-term value is even more important to Canadians, we are grateful for the trust and loyalty of our customers, and we are proud of the diverse range of vehicles we offer them,” said Cyril Dimitris, vice-president, sales and marketing, Toyota Canada. “We are truly honored to receive this recognition from Canadian Black Book and are committed to providing quality vehicles that meet the needs of all Canadian drivers. »
A strong comeback for Lexus and surprises in SUVs
The Lexus UX-Series stood out by capturing the title in the SUV: Luxury Sub-Compact/Compact category, ending Porsche’s five-year streak. Furthermore, Toyota maintained its supremacy by winning the Overall Brand: Car category and, for the third year in a row, the Overall Brand: SUV/Truck category.
Porsche and Genesis, notable performances
Porsche, for its part, maintained its strong position by winning five awards, including the title of Overall Brand: Luxury for the fourth consecutive year. The Genesis brand was named Most Improved in the Overall Brand: Most Improved category, a recognition of its notable progress in the luxury vehicle market.
An indicator of strength in an uncertain market
“Residual value is an indicator of the strength of brands and vehicles, especially in a volatile market,” said Daniel Ross, senior director of industry analytics and residual value strategy at CBB.
Read the CBB press release here.
