11.21.2023
Canadian Black Book Announces 2023 Best Retained Value Awards
All winners retained over 82% of their value, a record high for BEVs
November 21, 2023 (Markham, ON) – Canadian Black Book, the leading provider of Canada’s used vehicle valuation data and residual value forecast solutions, announced its coveted 2023 Best Retained Value Awards. The average retained value across all vehicles in Canada was 77% of MSRP on 2020 model year vehicles, down from 80% in 2022.
This is the second highest average retained value since the awards began, with last years’ models holding 80% of MSRP.
“This year we saw all winners retaining over 82% which is the first time BEV’s have reached this mark. We can expect the overall retained value to continue to decrease next year as 2022 marked the peak in our used vehicle index,” said Yolanda Biswah, President of Canadian Black Book.
For the 3rd year in a row, Canadian Black Book presented 2 BEV categories to reflect the emerging trends in the industry. The Volkswagen e-Golf won the BEV Main category, and the Porsche Taycan was awarded the prize in the BEV Luxury category.
Among other notable winners:
- In Small Pickup, the Toyota Tacoma has extended its streak of consecutive wins to 15 years in a row, the longest streak in award history
- Toyota has the most wins in 2023, at 6, while Porsche is runner-up winning 5 categories
- In SUV: Luxury Sub-Compact/Compact, the Porsche Macan has won for its fifth consecutive year
- In SUV: Main Sub Compact, the Subaru Crosstrek has won for the third year in a row
- Cadillac won the Car: Luxury category, upsetting Mercedes Benz’s streak
- In the Overall categories, Honda won Overall Brand: Car, but Toyota won Overall Brand: SUV/Truck for the second year in a row and Porsche won Overall Brand: Luxury for the 3rd year in a row
The winners for the 16th Annual CBB Best Retained Value Awards are as follows:
| Category | Winners | 2nd | 3rd |
| Overall Brand Award: Car | Honda | Chevrolet | Toyota |
| Overall Brand Award: SUV/Truck | Toyota | Ford | Subaru |
| Overall Brand Award: Luxury | Porsche | Mercedes-Benz | Lexus |
| Overall Brand Award: BEV | Porsche | Volkswagen | Mini |
| Most Improved | Cadillac | Fiat | Hyundai |
| Car: Main | Toyota Yaris | Chevrolet Spark | Hyundai Accent |
| Car: Luxury | Cadillac CT5 | Cadillac CT4 | Mercedes-Benz CLA-Class |
| Car: Prestige | Porsche Panamera | Mercedes-Benz CLS-Class | Lexus LS-Series |
| Sport Car: Main | Dodge Challenger | Subaru BRZ | Ford Mustang |
| Sport Car: Luxury | Chevrolet Corvette | Porsche 911 | Porsche 718 Boxter |
| Small Pickup | Toyota Tacoma | Ford Ranger | GMC Canyon |
| Full-Size Pickup | Toyota Tundra | Ford Super Duty | Chevrolet Silverado 1500 |
| SUV: Main Sub-Compact | Subaru Crosstrek | Toyota C-HR | Nissan Kicks |
| SUV: Main Compact | Toyota Rav4 | Honda CR-V | Mazda CX-3/Hyundai Tuscon |
| SUV: Main Mid/Full | Toyota Highlander | Hyundai Palisade | KIA Telluride |
| SUV: Luxury Sub-Compact/Compact | Porsche Macan | Mercedes-Benz GLC-Class | Lexus UX-Series |
| SUV: Luxury Mid/Full | Mercedes-Benz G-Class | Porsche Cayenne | Land Rover Defender 110 |
| BEV Main | Volkswagen e-Golf | Mini Hatchback Electric | Hyundai Ioniq |
| BEV Luxury | Porsche Taycan | BMW i3 | Tesla Model Y |
| Commercial Van | Mercedes-Benz Metris | Ford Transit Connect | Ford Transit |
Canadian Black Book will announce its 2024 Best Residual Value Awards in early 2024.