Canadian Black Book's Best Retained Value Awards
Canadian Black Book released the results of its annual "Best Retained Value" Awards this evening, in time for the kickoff of the Canadian International Autoshow in Toronto on Friday.
This year's awards took a look at 2011 model-year vehicles, with Toyota taking home the most awards this time around. And not surprisingly, the Jeep Wrangler once again saw the strongest price retention on the roads.
The Japanese nameplate notched six Best Retained Value first-place awards this year.
When asked what so often puts Toyota ahead in terms of value retention, Josh Bailey, vice president of research and editorial at Black Book, said, "It seems that it is partially reputation. Certainly, Toyota is well-known for building reliable cars, even though we have seen them go through some tribulations with recalls over the past few years. Still, when you speak to the owners and see the studies come out, they do fare very well in terms of reliability.
"We also know that Toyota spends a lot of time training dealers on customer handling, particularly through the turbulence they have had recently," he added.
Once again, Toyota's Prius earned the top spot in the compact car category for the third consecutive year. Canadian Black Book pointed out this win confirms the "continued desirability of this hybrid among Canadians."
Even though hybrid new-car sales are still a fraction of a percentage of the market, Bailey pointed out when you look at the hybrid used-car market, with the Prius and the entry-luxury car segment winner, the LexusCT200 hybrid - also the first luxury hybrid to notch a CBB retained value award - it is "eye opening."
Bailey also said that hybrids that are part of larger model programs, such as the Toyota Accord hybrid or Camry hybrid, these vehicles don't seem to fare as well in terms of value retention. The vehicles that are designed and marketed as hybrids, such as the Prius, tend to perform better.
Scarcity certainly plays a factor in hybrid value retention, as well.
"Hybrids tend to be a little more expensive on the front-end when you buy it new, but as a used buy, I think the scarcity, plus a group of people, who despite what the fuel prices might be, are still interested in buying hybrids, are fueling retention," Bailey concluded.
Toyota also swept the midsize SUV category, locking down first place with its Toyota 4Runner, followed by the FJ Cruiser and Highlander in second and third place, respectively.
The Japanese brand also took home first-place finishes in the small pickup segment (Toyota Tacoma) and the full-size pickup class (Toyota Tundra), notching these wins for the sixth year in a row.
The only other vehicles to take home awards for the sixth consecutive year were the Subaru Outback (midsize car) and the Mercedes-Benz Sprinter (full-size van).
The 2015 award winners were also highlighted by the Jeep Wrangler out in front with the best retained value of any vehicle.
The Wrangler retained almost 70 percent of its original MSRP after four years, the most impressive retention performance out of all 2011 model-year vehicles sold in Canada.
The unit was recognized once again as a first-place finisher in the compact SUV category for the fifth consecutive year.
What factors continue to push the Wrangler to above-average retention performance? Bailey said the addition of the four-door model in 2008 pushed the unit even further ahead.
"They were always really good, but now it's expanded into a whole different world. And with the whole industry shifting toward that sport utility angle, this is kind of the ultimate choice. It is the icon of off-roading," Bailey said. "When you put that on top of the overall trends in the market, that is one of the reasons that the Wrangler fares so well."
Among other trends seen across this year's set of awards, Canadian Black Book pointed out there has been a "surge" in European wins.
Looking at the awards by continent, Japanese manufacturers came out ahead with 10 first-place finishes, followed by Europe with seven, which is up from three last year. Domestics notched three wins.
Bailey reported the improvement from European manufacturers may be due in part to their focus on CPO programs.
"They have had really strong CPO programs, those brands like Audi and BMW. I think that they are very much aware of the benefits of CPO and what it brings to the brand. It's difficult to isolate the impact of CPO on the prices, but knowing they have pretty firm guidelines as far as what the CPO program needs to look like and how strongly the dealers participate in it, there is certainly something to it," he continued.
Trends in this year's award set also show the premium sports car class are seeing particularly high retention rates.
The No. 1 vehicle, the Porsche Boxter, retained 68 percent of its original MSRP, followed by the Porsche Cayman and Audi R8, which both saw retention rates of over 60 percent.
CBB also introduced a new category to its awards, this year: the Compact Commercial Van segment.
For the inaugural awards, the Ford Transit Connect came in the first place spot, retaining 60 percent of its original 2011 MSRP.
"The reason behind is that the segment has been so small in the past, really it was only the Grand Caravan Cargo that existed in the market. Then the Transit Connect came out. Now, we have got the MV200, and the City Express, along with the ProMaster City," Bailey explained. "So there are a whole bunch of entries that are coming. So we thought rather than sitting on the sidelines and waiting for them to come to market, we would get ahead of that trend a little bit and start recognizing that segment, as well."
See below for the complete Canadian Black Book 2015 "Best Retained Value" award listings:
|Sub-compact Car||Honda Fit||Kia Soul||Scion xD|
|Compact Car||Toyota Prius||Subaru Impreza||Acura CSX|
|Mid-size Car||Subaru Outback||Kia Optima||Honda Accord|
|Full-size Car||Toyota Avalon||Dodge Charger||Chrysler 300|
|Entry Luxury Car||LexusCT200h||Volvo XC70||Lexus IS Series|
|Luxury Car||Audi A5||Hyundai Equus||Lexus GS Series|
|Premium Luxry Car||Porsche Panamera||Lexus LS Series||Mercedes-Benz CLS Class|
|Premium Sports Car||Porsche Boxster||Porsche Cayman||Audi R8|
|Sports Car||Dodge Challenger||Volkswagen GTI||Audi TT|
|Small Pick-up||Toyota Tacoma||Honda Ridgeline||Ford Ranger|
|Full-size Pick-up||Toyota Tundra||Chevrolet Silverado HD||Chevrolet Avalanche|
|Minivan||Honda Odyssey||Toyota Sienna||Nissan Quest|
|Full-size Van||Mercedes-Benz Sprinter||GMC Savana||Chevrolet Express|
|Compact Commecial Van (New)||Ford Transit Connect||Dodge Caravan Cargo|
|Compact SUV||Jeep Wrangler||
Honda CR-V (tie) Subaru Forster (tie)
|Mid-size SUV||Toyota 4Runner||Toyota FJ Cruiser||Toyota Highlander|
|Full-size SUV||Toyota Sequoia||Dodge Durango||Nissan Armada|
|Compact Luxury SUV||Audi Q5||Acura RDX||Mercedes-Benz GLK-Class|
|Mid-Size Luxury SUV||Porsche Cayenne||Lexus GX Series||Land Rover LR4|
|Full-size Luxury SUV||Mercedes-Benz G-Class||Lexus LX Series||Land Rover Ranger Rover|