The 13th annual Canadian Black Book Best Retained Value awards are highlighted by the best ever industry average retained value, since the awards began in 2009. The retained value for all vehicles in Canada measured for this year’s Awards, showed four year old vehicles (2016 model year) held an astounding 57% of original MSRP, industry wide.
The previous record year was in 2018, which saw 53% value retention across all 2014 vehicles in Canada. “Overall we are seeing a very positive trend in vehicle depreciation over the past few years. That is simply to say, in general, vehicles today are better at holding value than they were in years past,” says Brian Murphy, VP Research & Analytics at Canadian Black Book.
The Canadian Black Book Best Retained Value Awards quantity retained value for every model of four year old vehicles in Canada, in 23 segments. There are also three ‘Overall Brand Awards’, presented to OEMs that hold the most value amongst their full product line. For 2020 the ‘Overall Brand Awards’ for Car go to Toyota; for Truck to Toyota; and for Luxury Brand to Porsche.
This year’s awards point towards positive signs for EVs. This segment has only been measured in the awards for two years. The winner in the ‘Zero Emission’ category was the Ford Focus, holding 51% of its MSRP, higher than winners in other categories. Across the category all models on average held 45% up a percentage point from last year. As a new technology, EV’s initially lagged in terms of retained values, however, as more selection has become available the market, consumers are becoming more comfortable and EV retained values are strengthening.
Leading the way, as in every previous year, with the most Awards is Toyota/Lexus with 9 Category wins. Porsche and Mercedes-Benz each secured 4 wins; followed by Honda with 3, FCA and Ford both locked up 2 trophies; and GM captured 1 award. For 2020 the vehicle that held the most amount of MSRP over the last four years is the Toyota Tacoma at 77%, in the ‘Small Pick-up’ category. This win for the Tacoma is the 11th straight victory, which is also the longest win streak of any vehicle since the awards began. The Tacoma was followed closely by the Mercedes-Benz GLE-Class in ‘Full-sized Luxury Crossover/SUV’ at 75% of original MRSR.
The Ford F250’s win in ‘Full-sized Truck’ for the first time ever, upset the reigning champ Toyota Tundra, after 10 years on top.
In terms of category dominance, RAM vans won 1st, 2nd, 3rd in the ‘Full-sized Van’ segment, a feat matched by Porsche in the ‘Premium Sports Car’ category and Toyota in ‘Compact Car’. Domestic automakers dominated the ‘Full-sized Pickup’ and ‘Compact Van’ categories, while European OEMs took the top three spots in ‘Mid-sized Luxury Car’ and Sub-Compact Luxury Car’. Japanese brands controlled the ‘Mid-sized Crossovers’, ‘Sub-Compact Car’ and ‘Sub-Compact Crossover’.
“Canadian Black Book would like to extend sincere congratulations to all those winners of the 2020 Best Retained Value Awards,” says Murphy.
Below is a full list of winners;