In keeping with its already impressive award-winning nature, Toyota recently racked up even more accolades from Canada’s Black Book (CBB) awards. This isn’t the first time they’ve cleaned house at the CBB awards and it likely won’t be the last, and quite frankly we here at Westbury Toyota won’t be surprised if this becomes a yearly trend. For a better understanding of what these awards entail and signify, we’ve broken it down for you below.
Everyone knows that the moment you drive a new car off the lot it starts losing value. The big question is, just how much value do different cars lose? The CBB does annual assessments of vehicles that are four years old in order to determine just how much of the original purchase price they have retained. As determined by the CBB, the market segment that retains the most value is that of small pickup trucks, whereas the worst is luxury cars. As noted by The Globe and Mail, the vice president of the CBB’s editorial and research department, Brian Murphy, recently explained that the average in the industry is right around 52 percent. This means that after four years, a vehicle retains 52 percent of its initial purchase price.
In presenting their rewards, the CBB is recognizing cars and automakers that retain their value the best over the years – and Toyota took home the lion’s share this year.
“Toyotas disproportionately hold more of their value. A friend of mine has a 12 year-old Toyota Tacoma. He can probably sell it for $11,000 – if he’d bought some other truck, it would be worth a third of that.”- Brian Murphy, vice president of editorial and research, Canadian Black Book
This year, Toyota took home 19 CBB awards. This isn’t the first year they can boast that achievement – it’s actually the eighth consecutive year! In fact, since 2010, Toyota has received 49 CBB awards, an accomplishment that puts them well ahead of any other competitor, points out Benjamin Yong of Open Road Auto Group. These awards are just further indication of Toyota’s commitment to ensuring their customers benefit from long-term reliability, something that encompasses unparalleled quality, fuel economy, and affordability.
For this year’s awards, the CBB analyzed vehicles from the 2015 model year in three brand categories and 23 different vehicle categories. Here’s a look at all of Toyota’s vehicles that were CBB “best retained value” winners this year:
In addition, Toyota also received ALG Residual Value Awards, which focus on 2019 models that are predicted to keep the highest percentage of their MSRP over a four-year duration. The winners for this year included:
As you can see, Toyota is a brand that is incomparable, and that fact has only been confirmed by the sheer amount of CBB awards they’ve brought in year after year. Toyota is continually setting the bar when it comes to performance, quality, and affordability, and here at Westbury Toyota we have no doubt that they will continue to do so for many more years to come.