Toyota’s 2016 Best Resale Value Award Winners Announced by Kelley Blue Book
FULL-SIZE CAR: Toyota Avalon
MID-SIZE SUV/CROSSOVER: Toyota 4Runner
MID-SIZE PICKUP TRUCK: Toyota Tacoma
FULL-SIZE PICKUP TRUCK: Toyota Tundra
MINIVAN/VAN: Toyota Sienna
(Residual values used for award calculations are based on the 2016 model-year vehicles that appear in the January/February 2016 Kelley Blue Book® Residual Value Guide. Top 10 models appear in alphabetical order).
While most car buyers today consider sticker price one of the most significant numbers when choosing a new vehicle, the editors at Kelley Blue Book’s KBB.com recommend shoppers consider a number they won’t find on any window sticker: the resale value. Depreciation often is the greatest expense incurred by drivers during the first five years of vehicle ownership. An average 2016 model-year vehicle only will retain about 34.8 percent of its original value after a five-year ownership period, meaning that a $50,000 new car today will only be worth somewhere close to $17,400 after five years. Vehicles with average or below-average resale values are generally 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 are typically discounted the least and tend to generate high levels of consumer interest.
“Most options and packages added to a vehicle do not necessarily increase its resale value,” said Jack R. Nerad, executive editorial director and executive market analyst for Kelley Blue Book. “However, there are exceptions to the rule, such as a high-performance engine or a performance package in a sports car. Regional preferences can significantly impact the value of a vehicle as well. 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.”
While the company’s Residual Value Guide has been published since 1982, Kelley Blue Book established its annual Best Resale Value Awards in 2003. 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, please visit http://www.kbb.com/new-cars/best-resale-value-awards/.
To discuss this topic, or any other automotive-related information, with a Kelley Blue Book analyst on-camera via the company’s on-site studio, please contact a member of the Public Relations team to book an interview.
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