Kelley Blue Book is releasing its 2022 Best Resale Value Awards. Now in their 20th year, the awards name the top brands when it comes to resale value and highlight vehicles that will retain the most value five years down the road. Resale value is something Car Pro Show host Jerry Reynolds talks a lot about on the show and is a big factor in the vehicle he recommends for car shoppers who don't plan to keep their vehicles a long time.
In its press release, KBB says given the fact that the average cost for a new car at the end of 2021 topped $47,000, new-car shoppers in 2022 would be wise to pay more attention than ever to their vehicle's resale value. The awards are based on KBB's future predictions of the residual value of a 75,000-mile vehicle, five years down the road. (In other words, which 2022 models will depreciate the least in five years.) KBB says many car shoppers aren't fully aware to what extent and how much this amount can vary from model to model and says understanding a car's resale value can make the difference of hundreds, if not thousands, of dollars in the long run.
2022 Best Resale Value Awards
This year, Toyota maintains its top spot among mainstream brands (it won the title last as well as in 2014, 2017, 2018 and 2019. (Subaru won it in 2020). Lexus edges out Porsche this year for the best luxury brand title. It's Lexus' 3rd win.
"New-car shoppers who buy from Toyota or its luxury-brand sibling Lexus – our 2022 Best Resale Value Brand winners – can rest assured that their vehicle should retain its value quite well over time," said Janice Yoell, senior manager of valuations for Kelley Blue Book. "Toyota and Lexus, respectively, are the best vehicle brand and luxury brand for 2022 in terms of the highest average projected resale value across their full lineups. Trucks and SUVs continue to dominate among the top 10 vehicles, including a brand-new Best Resale Value Award winner this year with the Ford Maverick compact pickup – which also was named Best New Model for 2022 by Kelley Blue Book. It's also notable that an electrified vehicle – the Tesla Model X – is among the top 10, another indication of how electrified vehicles are becoming more mainstream in today's marketplace."
2022 Best Resale Value: Top 10 Cars
KBB says many new-car buyers don't realize that depreciation often is the biggest expense incurred by drivers during the first five years of vehicle ownership. An average 2022 model-year vehicle will only retain about 43% of its original value after a five-year ownership period, meaning that a $45,000 new car today will only be worth somewhere close to $19,350 after five years.
In comparison, all vehicles in Kelley Blue Book's Top 10 for Best Resale Value are projected to retain around 56% or more of their MSRP. They are listed in alphabetical order:
About the Awards
KBB says residual values used for award calculations are based on the 2022 model-year vehicles that appear in the January/February 2022 Kelley Blue Book Residual Value Guide. Vehicles with average or below-average resale values are typically plentiful in the marketplace and easy to find, but 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 typically are discounted the least and tend to generate high levels of consumer interest.
Kelley Blue Book's Best Resale Value Awards are based on projections from the Kelley Blue Book Official Residual Value Guide. Kelley Blue Book Residual Values are established by experienced automotive analysts that review the output from statistical models built upon millions of transactions. Vehicles that earn the highest five-year residual values, expressed as a percentage of their original Manufacturer's Suggested Retail Price (MSRP), are selected for these prestigious awards. Low-volume vehicles are excluded from award consideration, except in the electric, luxury and sports car categories.
Residual values reflect projected future auction values for vehicles in average condition with 75,000 miles at the end of a five-year lease or ownership period. Kelley Blue Book's residual values are used by manufacturers, banks, financial institutions, and the automotive leasing industry.
Photo Credit: Toyota. 2022 Tundra Limited.
Source: KBB Press Release.