Toyota is the big winner for resale value in Canada, with Lexus and Chevrolet sharing second place in the J.D. Power 2022 Canada ALG Residual Value Awards.
The awards recognize the vehicles in each segment that are projected to hold the highest percentage of their MSRP (manufacturer’s suggested retail price) after four years for mass-market vehicles, and three years for premium ones. In the 2022 awards, 16 different brands took trophies in 29 segments.
The company evaluates 274 model lines, analyzing used-vehicle performance, brand outlook, and product competitiveness. To be considered, a brand must have model entries in at least four different segments. The model lines are weighted by the percentage share of trim levels, to account for differences across the trims.
“There’s not much brand diversity in the winners for 2022, meaning that the few brands at the top have found their niche, especially Toyota with its continued dominance in the utility and pickup segments,” said Eric Lyman, vice-president of ALG. “Noteworthy is Chevrolet’s success across a variety of key segments – EV [electric vehicles], full-size heavy-duty pickups, and performance sportscar – that showcase the brand’s enviable product diversity.”
Toyota took awards for its Camry, RAV4, Highlander, 4Runner, Tundra, Tacoma, and Sienna — that last one swiped the minivan crown from the Honda Odyssey, which usually wins it. Chevrolet won for the Bolt EV, Corvette, and Silverado 2500 Heavy-Duty; and Lexus for the IS, GX, and UX. Other multi-trophy winners were GMC, Mercedes-Benz, and Subaru.
Winners in the Passenger Car segment
- Compact: Volkswagen GTI
- Full-size: Nissan Maxima
- Midsize: Toyota Camry
- Premium Compact: BMW 2 Series
- Premium Executive: Mercedes-Benz AMG GT 4-Door
- Premium Full-size: Genesis G80
- Premium Midsize: Lexus IS
- Premium Sports Car: Chevrolet Corvette
- Sports Car: Subaru WRX
- Subcompact: Kia Rio
Winners in the Utility Vehicle segment
- Compact Utility: Toyota RAV4
- Full-size Utility: GMC Yukon
- Micro Utility: Hyundai Kona
- Midsize Utility 2-Row Seating: Honda Passport
- Midsize Utility 3-Row Seating: Toyota Highlander
- Off-Road Utility: Toyota 4Runner
- Premium Compact Utility: Mercedes-Benz GLB
- Premium Full-size Utility: Cadillac Escalade
- Premium Midsize Utility 2-Row Seating: Land Rover Range Rover Sport
- Premium Midsize Utility 3-Row Seating: Lexus GX
- Premium Subcompact Utility: Lexus UX
- Subcompact Utility: Subaru Crosstrek
Winners in the Electric, Pickup and Van Segments
- Mass Market Electric: Chevrolet Bolt EV
- Premium Electric: Porsche Taycan
- Full-size Heavy-Duty Pickup: Chevrolet Silverado 2500 HD
- Full-size Pickup: Toyota Tundra
- Midsize Pickup: Toyota Tacoma
- Commercial Van: GMC Savana
- Minivan: Toyota Sienna
Keyword: Toyota takes top honours for resale value in Canada for 2022