Canadian Black Book
CanadianBlackBook.com released its annual “Best Retained Value” Award winners today as part of a campaign to encourage car buyers to ‘Appreciate Depreciation’ and make more informed vehicle buying decisions.
Announced the day before the Canadian International Auto Show in Toronto, the “Best Retained Value” awards help car buyers by recognizing which vehicles depreciate the least. This year’s awards looked at 2011 models, with Toyota taking home the most awards overall, the Jeep Wrangler holding the most value as a percentage compared to all other vehicles, and a surge in European OEM wins.
Canadian Black Book urges car buyers to ‘Appreciate Depreciation’ – by looking closely at these awards, and by taking advantage of its free value calculators on its website - CanadianBlackBook.com.
“Depreciation is the single largest cost of owning a vehicle, and while past performance is no guarantee, consumers can use these awards to learn which brands and models hold their value best,” says Josh Bailey, Vice President, Research & Editorial for Canadian Black Book.
While Toyota continued its domination taking home six Best Retained Value first place finishes in 2015, it was European manufacturers who made the greatest gains, jumping from three firsts last year, to seven in 2015.
The Jeep Wrangler retained almost 70 per cent of its original MSRP after four years, the highest among all 2011 vehicles sold in Canada. The Wrangler took first place in the Compact SUV category for the fifth consecutive year.
The premium sports car class also hit the mark for staving off depreciation. The Porsche Boxster, which took first place in that category, retained 68 percent of its original MSRP. The two runner ups, Porsche Cayman and Audi R8, both retained over 60 percent.
“Our Best Retained Value Awards focus on vehicle depreciation. Consumers thinking about a particular model need to consider what that vehicle might be worth four or five years down the road when they go to trade it in or sell it,” adds Bailey. “This is especially important if you are financing the vehicle. With the majority of loans now 72 months or longer, today’s deal may seem attractive, but when you want a new car in four years, you may find yourself in ‘negative equity’ where the value of your trade-in is less than your loan balance.“
Canadian Black Book introduced a new category to its Best Retained Value Awards for 2015 - ‘Compact Commercial Van’. Here, the Ford Transit Connect earned the top spot by holding almost 60 percent of its original 2011 MSRP, almost double the category runner up, the Dodge Grand Caravan Cargo.
The Toyota Tundra and Tacoma, both took top honours for six straight years in the Full-Size and Small Pickup categories. Two other vehicles, the Subaru Outback (mid-size car) and Mercedes-Benz Sprinter (full-size van) also held for a sixth time.
Kathy Ward, CEO, Canadian Black Book says, “When you’re considering where to put your brand loyalty, don’t make decisions based on what appears to be the best deal for your budget today. Smart buyers always consider what a vehicle may be worth in the future.”
Industry analyst, Dennis DesRosiers agrees that there’s a lot consumers can glean from the Best Retained Value Awards winners’ list. “The choices are ultimately a reflection of perceived value by fellow car buyers,“ he says.
Drawing on the industry’s most comprehensive vehicle values database, the Canadian Black Book Best Retained Value Awards recognize vehicles in 20 categories that hold the most value over a four year period.
More details about 2015 and past year’s winners can be found on CanadianBlackBook.com
Best known for being the trusted source of vehicle values to the car industry for over 50 years, Canadian Black Book now offers three excellent value calculators – Trade-in Value, Future Value and Average Asking Price. Car buyers can visit CanadianBlackBook.com and get unlimited access to the free calculators.
CanadianBlackBook.com databases values for every mainstream Canadian car and truck sold since 2002, as well as providing future values looking ahead up to 5 years.