11.10.2022
Record Breaking Vehicle Retained Value Awards Announced at Sold Out TalkAUTO Event
Canadian Black Book’s Conference Hosts 300 of Canada’s Leading Auto Industry Executives
Canadian Black Book, the leading provider of Canada’s used vehicle valuation data and residual value forecast solutions, announced its coveted 2022 Best Retained Value Awards during their 11th annual TalkAUTO Canada conference. This year’s Awards saw by far the highest average retained value across all vehicles in Canada, at an average retained value of 80% of MSRP on 2019 model year vehicles.
The previous record was broken just last year when 2018 model year vehicles held 64% of MSRP after four years. 2022 has surpassed that mark by almost 20%. For the first time since the Retained Value Awards began 15 years ago, some categories of vehicles increased in value compared to their original MSRP.
“Retained values in 2022 will not soon be forgotten. The fact that used vehicles are worth more than they were when purchased four years ago is unprecedented,” said Yolanda Biswah, Senior Vice President, and General Manager of Canadian Black Book.
Last year, CBB introduced 2 ZEV categories to reflect the emerging trends in the industry. With the number of ZEV models increasing each year, the competition is heating up. The Audi e-tron took home the award for ZEV luxury and the Nissan Leaf won for ZEV Main.
Other notable winners:
- In Small Pickup, The Toyota Tacoma has extended its streak of consecutive wins to 14 years in a row, the longest streak in history.
- In SUV: Luxury Sub-Compact/Compact, the Porsche Macan has won five consecutive years.
- In SUV: Main Sub Compact, the Subaru Crosstrek has won back-to-back.
- As it did last year, Mercedes Benz once again swept the ‘Car: Luxury’ category, placing first, second, and third.
- In terms of the Overall Brand winner, Porsche repeated in the Luxury category.
- Toyota wins 5 Awards; Mercedes Benz wins 3; GM wins 2; Porsche wins 2; Audi wins 2; Ford wins 2; Volkswagen, Subaru, Hyundai and Nissan each win 1 award.
The winners for the 15th Annual CBB Best Retained Value Awards are as follows:
Overall Brand (OB) Awards:
| Category | WINNER | 2nd | 3rd |
|---|---|---|---|
| OB Car | Toyota | Dodge | Subaru |
| OB SUV/Truck | Toyota | Ford | Chevrolet |
| OB Luxury | Porsche | Land Rover | Mercedes Benz |
| OB ZEV | Audi | Nissan | Hyundai |
| OB Most Improved | Hyundai | Mazda | KIA |
Category Winners:
| Category | WINNER | 2nd | 3rd |
|---|---|---|---|
| Car: Main | Volkswagen Beetle | Chevrolet Spark | Toyota Yaris |
| Car: Luxury | Mercedes Benz A-Class | Mercedes Benz CLA-Class | Mercedes Benz C- Class |
| Car: Prestige | Mercedes Benz CLS-Class | Porsche Panamera | Lexus LS |
| Sport Car: Main | Ford Mustang | Dodge Challenger | Mini Cooper |
| Sport Car: Luxury | Chevrolet Corvette | Porsche 911 | Porsche 718 Cayman |
| Small Pickup | Toyota Tacoma | Ford Ranger | GMC Canyon |
| Full-Size Pickup | Chevrolet Silverado HD | GMC Sierra HD | RAM HD |
| SUV: Main Sub-Compact | Subaru Crosstrek | Nissan Kicks | Honda HR-V |
| SUV: Main Compact | Toyota Rav4 | Subaru Forrester | Honda CR-V |
| SUV: Main Mid/Full | Toyota 4Runner | Jeep Wrangler | Toyota Highlander |
| SUV: Luxury Sub-Compact/Compact | Porsche Macan | Mercedes-Benz GLC-Class | Cadillac XT4 |
| SUV: Luxury Mid/Full | Mercedes Benz GLE-Class | Porsche Cayenne | Lexus LX |
| ZEV Main | Nissan Leaf | Hyundai Ioniq EV | Chevrolet Bolt |
| ZEV Luxury | Audi e-tron | Jaguar I-Pace | BMW i3 |
| Commercial Van | Ford Transit | Ford Transit Connect | Mercedes Benz Sprinter |
TalkAUTO took place at the Universal EventSpace in Vaughan, ON and hosted over 300 leaders from OEMs, dealers, insurance, banking, suppliers, the automotive media and more. The presentation of the 2022 Best Retained Value Awards marked the first time the awards were ever presented live.
2022 was headlined by keynote speaker Flavio Volpe, APMA President, who provided an informative glimpse into Canada’s role in the auto industry’s transformation. An impressive list of expert speakers from major OEMs, banks, and data/tech providers once again provided content to keep everyone engage for the day.
“We were honored to be able to announce the award winners with the live recognition that they deserve from Canada’s auto sector,” says Biswah.
Watch for the announcement of the 2nd annual Canadian Black Book 2023 Best Residual Value Awards in early 2023.
About Canadian Black Book
Canadian Black Book has been providing vehicle values to the Canadian automotive industry for more than 60 years. Through the company’s growth, it has evolved into a leading provider of vehicle valuations, residual value forecasts, and VIN decoding services. As ‘The Authority’ for vehicle values, the Canadian Black Book values are utilized by both dealers and manufacturers, as well as leasing, finance, insurance, and wholesalers. By utilizing the Canadian Black Book Enhance Vehicle Matching (EVM) solution, the industry will be able to better decode 17-digit VINs down to the specific trim package of the vehicle, thereby allowing for a more precise valuation of the vehicle.
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For graphics and images from 2022 TalkAUTO and the Best Retained Value Award CLICK HERE
For questions, more information or interview requests contact:
Conrad Galambos
905.979.7039
cgalambos@canadianblackbook.com
Posted in: Dealers