Toyota is Best Overall SUV/Truck Brand in 2021 CBB Awards
If you’re a Canadian looking to buy a new car that will hold its value well, Toyota is a good place to start. In the 2021 Canadian Black Book Best Retained Value Awards, the Japanese automaker earned seven awards, including Best Overall SUV/Truck Brand.
Every year, CBB analyzes and recognizes the vehicles that retain the highest percentage of their original manufacturer’s suggested retail price after four years. For the 2021 awards, CBB looked at vehicles from the 2017 model year across a variety of categories.
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According to CBB, the average 2017 vehicle retained 61.5 percent of its original MSRP, a marked improvement over previous years (56.6 percent for 2016 models and 52 percent for 2015 models). However, CBB says this may have less to do with vehicle dependability and more to do with the lack of supply caused by the global pandemic.
“Repossessions were largely put on hold for consumer relief during the difficult economic times, which have still yet to get back to pre-pandemic levels, again keeping those vehicles away from auction and used lots,” said CBB. “People have been driving less and therefore keeping cars longer and therefore not trading in.”
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Out of the 23 categories included in the awards, Toyota models were the outright winners in six:
- Compact Car: Toyota Prius V
- Full-Size Car: Toyota Avalon
- Small Pickup: Toyota Tacoma
- Full-Size Pickup: Toyota Tundra
- Midsize Luxury Crossover/SUV: Lexus GX460
- Near-Luxury Car: Lexus IS Series
Seven more Toyota-made cars were runners-up, and five were placed third in their respective categories, making Toyota the best-represented automaker by a significant margin. As a result, it was also named the top overall SUV/truck brand.
With the global microchip shortage in full swing, we expect that the 2022 awards will find that the average retained value across the industry will have gone up once more.
Kurt Verlin was born in France and lives in the United States. Throughout his life he was always told French was the language of romance, but it was English he fell in love with. He likes cats, music, cars, 30 Rock, Formula 1, and pretending to be a race car driver in simulators; but most of all, he just likes to write about it all. See more articles by Kurt.