Canadian Black Book Names Honda 2021 Best Retained ValueMar 31st, 2021
Canadian Black Book (CBB) has just announced its “2021 Best Retained Value” award that is handed out yearly to the vehicle models and brands that best hold their resale value 4 years after the initial purchase. The 2021 award is based on the 2017 model year and how well those vehicles hold up across 23 categories and prizes are awarded to those vehicles that hold the highest percentage of their initial MSRP value. Here are the results of the Canadian Black Books 2021 Best Retained Value Award:
As you can see, Honda vehicles are well represented in every category they qualify for. Impressively the Fit, Accord, Odyssey, CR-V, and HR-V are at the top of their respective categories, and the Civic takes 2nd spot for compact cars. This impressive result has led to CBB giving Honda the “Brand Award” for cars, which means Honda cars hold their value better than any other competitor. Honda vehicles are synonymous with incredible value and we’re happy to say that won’t be changing anytime soon.
A lack of driving due to the pandemic, lower new vehicle supply, and a microchip shortage have led to used and pre-owned vehicles being at an all-time high value.
This was noted by Yolanda Biswah, Vice President of Sales at Canadian Black Book who said:
“In terms of retained values, the past year has been a wild ride to say the least. We have been through steep record setting declines last spring, followed by rapid increases culminating in record level retained values in Canada across the board, much of the gains have been propped up by economic phenomena directly related to the global pandemic.”
What is perfectly clear is that right now is the best time in recent history to maximize the amount you get for your vehicle, regardless of make or model. With used vehicle demand being at an all-time high, many savvy vehicle owners are opting to take advantage of the unprecedented demand before values normalize once again. For anyone who is curious about the value of your vehicle in this high-demand used vehicle market, our vehicle acquisition department can perform a simple and straightforward evaluation of your vehicle in as little as 30 minutes. This no-obligation offer also comes with a free carfax history report that shows your full vehicle history and a market value report that shows what similar vehicles are selling for right now.