These Are the 2024 Models with the Highest Projected Residual Value

Published on February 2, 2024 in News by Guillaume Rivard

So, which new vehicle should you buy now to get the best resale value in three or four years? That’s a great question. Want some help finding the answer? You can start by checking J.D. Power’s 2024 Canada ALG Residual Value Awards that were announced today.

These awards are pretty much the industry standard when it comes to recognizing the vehicles that are projected to hold the highest percentage of their manufacturer’s suggested retail price (MSRP).

“Although Toyota and GM have a broad lineup and are high-volume producers, the consistency throughout their models has garnered higher residual values,” said Danny Battaglia, managing director of ALG customer success at J.D. Power. “Not only do these manufacturers have broad appeal vehicles high in the rankings, but they also have specialized vehicles, such as off-road, at the top as well. Continued consistency with quality, durability and pricing produces high demand which retains residual values.”

Remember, depreciation is the single costliest aspect of car ownership, which is why a vehicle’s residual value is always something to consider at the time of purchase, because that’s how you can determine its actual cost.

For the 2024 model year, ALG evaluated 298 model lines through analysis of used-vehicle performance, brand outlook and product competitiveness. To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line.

And the Winners Are…

Similar to the past three years, the top mainstream brand in Canada for 2024 is Toyota. Nine of its models earn an ALG award for the best projected residual value—Corolla, Camry, 4Runner, Sequoia, Grand Highlander, RAV4, Sienna, Tacoma and Tundra. Incredibly, the Tundra has topped the large light-duty pickup segment since the first year of these awards in 2009.

The Subaru WRX is another dominant performer, having won an award for the ninth consecutive year. The company’s next-generation Crosstrek gets the nod in the subcompact SUV segment.