Canadian Black Book Hands Out 2023 Best Retained Value Awards

Published on November 29, 2023 in News by Guillaume Rivard

For the 16th year, Canadian Black Book (CBB) recently announced the winners of its Best Retained Value Awards, which measure how much of their original MSRP vehicles hold after four years of ownership. The average retained value across the industry is 77% of MSRP on 2020 model-year vehicles, down from the record 80% set last year.

“This year we saw all winners retaining over 82%. We can expect the overall retained value to continue to decrease next year as 2022 marked the peak in our used vehicle index,” CBB President Yolanda Biswah said. 

Toyota has the most wins in 2023 with six, and its Tacoma pickup extended its streak of consecutive wins to 15 years.

Photo: Toyota Canada Inc.

Two SUVs continue to stand out: the Subaru Crosstrek and Porsche Macan earned a CBB award for the third year in a row and fourth year in a row, respectively. Cadillac won in the luxury car category, upsetting Mercedes-Benz’s streak. 

As for electric vehicles, the Volkswagen e-Golf is the mainstream model with the best retained value after four years, while the Porsche Taycan takes the crown among luxury models.  

Photo: Volkswagen Canada Inc.

Here is the complete list of CBB Best Retained Value Awards for 2023:

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