Kurt Verlin
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Toyota and Lexus are Canada’s Top Brands for Residual Value

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2022 Toyota Tundra TRD Pro in Super White, an ALG residual value award winner
Photo: Toyota

Toyota and Lexus were the two overall winners in the J.D. Power 2022 Canada ALG Residual Value Awards, which aim to give customers an idea of the best cars to buy that will fetch a pretty penny a few years down the line.

Toyota was named the top mass market brand for the third time running while Lexus was named the top luxury brand for the second time running. Between all of its Toyota- and Lexus-badged vehicles, the Japanese automaker snatched 12 awards, more than any other competitor.

Related: Find a used Toyota under $15,000

“We’re proud to receive these awards from ALG as they recognize that consumers are getting the best possible value when purchasing a new vehicle from Toyota or Lexus,” said Cyril Dimitris, Vice President of Sales and Marketing at Toyota Canada Inc. “Quality, dependability and reliability are built into every model, so Canadians enjoy peace of mind when they purchase a Toyota or Lexus vehicle.”

Residual value is a top consideration among car shoppers seeking to sell or trade in their vehicle after a few years. It’s a key variable in determining lease costs as well as the overall appeal of a brand and its models.

For the 2022 model year, the Toyota brand received seven segment awards in the following categories:

  • Midsize pickup (Tacoma)
  • Full-size pickup (Tundra)
  • Off-road utility (4Runner)
  • Midsize three-row utility (Highlander)
  • Compact utility (RAV4)
  • Minivan (Sienna)
  • Midsize (Camry)

Additionally, the Lexus UX, GX, and IS were each recognized in the premium subcompact utility, premium midsize three-row utility, and premium midsize automotive segments. Most people already know that Toyota and Lexus are top brands when it comes to reliability and quality, and thus resale value, but it’s still nice to have the experts’ validation.