Japanese automobile manufacturer, Toyota was named by Kelley Blue Book as the top brand for projected resale value for the 2017 model year.
It is the first time since 2014 that Toyota won the best resale title, snapping a two-year streak by Subaru. Porsche’s luxury resale value crown ended a five-year run by Lexus.
KBB awards its Best Resale Value titles to brands and vehicles that are projected to have the highest five-year residual values.
Nine of the 10 models projected to retain the most value are light trucks, including eight pickups, reflecting the overall strength of crossovers and pickups and the relative weakness of cars in the U.S. market, said Eric Ibara, KBB director of residual values.
The high residual values for light trucks are “further testament to the strength these segments will carry in the future,” Ibara said in a statement.
General Motors topped the industry with four models — the Chevrolet Colorado, Chevrolet Silverado, GMC Canyon and GMC Sierra — on the top 10 list. Toyota had three models — the 4Runner, Tacoma and Tundra — make the cut, while the Honda Ridgeline, Jeep Wrangler and Subaru WRX rounded out the list.
KBB said the average 2017 model year vehicle will retain just 32.9 percent of its value over five years, down from 34.8 percent in 2016.
The pricing publication said resale value tends to be determined in large part by market forces and economics, though those vehicles projected to maintain high residual values tend to have few discounts and “generate high levels” of interest from customers.
“Regional preferences can significantly impact the value of a vehicle as well,” Ibara said. “In the colder sections of the country, a two-wheel drive vehicle’s resale value often will not be as high as a four-wheel or all-wheel drive version of that same model. In warmer climates black or dark-colored cars will not have as high resale value as they could command in other regions.”
Despite losing its best luxury brand title, Lexus led all brands with four vehicles that topped their respective segments in retail value, including the GS luxury car and RX midsize crossover.
Chevrolet, Honda, Porsche, Subaru and Toyota each had three models top their categories. Ford, Jeep and Nissan finished with one each, AutomotiveNews reports.
