Kelley Blue Book named Toyota as the winner of its 2018 Best Resale Value Award for the overall brand category, marking the third time that the company has received the award. For the luxury brand category, KBB named Porsche its winner.
This is the 16th year that KBB has given out its resale value awards. This year, vehicles that received one of its top 10 best resale value awards were projected to retain more than 46% of their MSRP over the next five years.
The top model, the Toyota Tacoma, is projected to retain 61% of its MSRP after a five-year period.
“Vehicles with average or below-average resale values are generally plentiful in the marketplace and easy to find. However, certain vehicles are projected to hold their value better than others. While much of a vehicle’s resale value is based on supply and demand, as well as current and projected future market conditions, vehicles that retain their value best are typically discounted the least and tend to generate high levels of consumer interest,” KBB noted.
The top 10 vehicles that KBB reported would keep the highest values over a five-year period include, the Chevrolet Colorado; Chevrolet Silverado; Ford F-Series; GMC Sierra; Honda Ridgeline; Jeep Wrangler; Subaru WRX; Toyota 4Runner; Toyota Tacoma; Toyota Tacoma; and the Toyota Tundra.
“The Top 10 vehicle winners are predominantly trucks, which reflects the high demand that exists for these models. Despite the higher incentives available on trucks today, used-car buyers are willing to pay more for trucks, relative to the initial MSRP, than they are for sedans. Without the prospect of higher gas prices, this trend doesn’t appear to be slowing,” said Eric Ibara, director of residual values for KBB.