Kelley Blue Book Names 2019 Best Resale Value Award Winners
IRVINE, Calif., Jan. 23, 2019 /PRNewswire/ -- While most car buyers consider the sales price one of the most significant figures when choosing a new vehicle, the experts at Kelley Blue Book recommend shoppers consider a number they won't find on any window sticker: the resale value. Making it easy to shop smart, Kelley Blue Book today announces the 2019 model-year brand and category winners of the annual Best Resale Value Awards, recognizing vehicles for their projected retained value through the initial five-year ownership period.
"Shoppers can be confident a vehicle will retain its value well if you pick from our list of Best Resale Value Winners. At the brand level, Toyota and Porsche repeat their wins for top brand and luxury brand, respectively, with the highest average projected resale value among their full model lineups," said Eric Ibara, director of residual values for Kelley Blue Book. "Positioned among the Top 10 vehicles this year are all truck 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."
This is the fourth Best Resale Value: Brand win for Toyota, which previously won in 2014, 2017 and 2018. This year marks Porsche's third consecutive Best Resale Value: Luxury Brand win.
COMPACT CAR: Honda Civic
MIDSIZE SUV/CROSSOVER – 3 ROW: Toyota Highlander
MIDSIZE CAR: Subaru Legacy
FULL-SIZE SUV/CROSSOVER: Chevrolet Tahoe
FULL-SIZE CAR: Dodge Charger
LUXURY SUBCOMPACT SUV/CROSSOVER: Lexus UX
ENTRY-LEVEL LUXURY CAR: Lexus RC
LUXURY COMPACT SUV/CROSSOVER: Porsche Macan
LUXURY CAR: Audi A7
LUXURY MIDSIZE SUV/CROSSOVER – 2 ROW: Lexus RX
HIGH-END LUXURY CAR: Porsche Panamera
LUXURY MIDSIZE SUV/CROSSOVER – 3 ROW: Lexus GX
SPORTS CAR: Ford Mustang Shelby GT350
LUXURY FULL-SIZE SUV/CROSSOVER: Lexus LX
HYBRID CAR: Honda Insight
OFF-ROAD SUV/CROSSOVER: Jeep Wrangler Unlimited
ELECTRIC VEHICLE: Tesla Model 3
MIDSIZE PICKUP TRUCK: Toyota Tacoma
SUBCOMPACT SUV/CROSSOVER: Honda HR-V
FULL-SIZE PICKUP TRUCK: Toyota Tundra
COMPACT SUV/CROSSOVER: Subaru Crosstrek
FULL-SIZE PICKUP TRUCK – HEAVY-DUTY: Chevrolet Silverado HD
MIDSIZE SUV/CROSSOVER – 2 ROW: Subaru Outback
MINIVAN: Honda Odyssey
(Residual values used for award calculations are based on the 2019 model-year vehicles that appear in the January/February 2019 Kelley Blue Book® Residual Value Guide. Top 10 models appear in alphabetical order.)
Depreciation often is the greatest expense incurred by drivers during the first five years of vehicle ownership. An average 2019 model-year vehicle will only retain about 39 percent of its original value after a five-year ownership period, meaning that a $35,000 new car today will only be worth somewhere close to $13,650 after five years. By comparison, all vehicles in Kelley Blue Book's Top 10 for Best Resale Value are projected to retain more than 50 percent of their MSRP with the top model, the Toyota Tacoma, expected to bring 62 percent of its MSRP after five years. 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.
Kelley Blue Book's Best Resale Value Awards are in their 17th year and 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. For more information about Kelley Blue Book's Best Resale Value Awards, visit https://www.kbb.com/new-cars/best-resale-value-awards/.
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About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week, the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book launched its first international consumer-facing site in 2017. Kelley Blue Book is a Cox Automotive brand.
About Cox Automotive
Cox Automotive Inc. makes buying, selling and owning cars easier for everyone, while also enabling mobility services. The global company's 34,000-plus team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues exceeding $20 billion. www.coxautoinc.com
SOURCE Kelley Blue Book
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