The Cadillac CT5 was recognized by Canadian Black Book (CBB), a publication that studies used vehicle valuation data and forecasts residual vehicle values, as being one of the vehicles that retains its value.
Specifically, the Cadillac CT5 earned the CBB 2023 Best Retained Value Award in the Luxury Car category, signaling that the luxury sedan retained over 82 percent of its value after three years of ownership on average. It was tailed by the Cadillac CT4 in second place in the Luxury Car bracket, while the Mercedes-Benz CLA-Class earned third. In fact, the luxury marque dethroned Mercedes-Benz for the honor this year, putting an end to the German automaker’s streak.
Other notable winners were Honda, which was recognized as the Overall Brand Winner in the Car category, tailed by Chevrolet and Toyota, respectively. As for Overall Brand Award in Truck / SUV, Toyota took the win, followed by Ford in second and Subaru in third. Porsche posted the highest residual value rate in the Overall Brand: Luxury division, outperforming second-place Mercedes-Benz and third-place Lexus. Cadillac overall was also recognized as Most Improved in terms of residual value, along with Fiat and Hyundai.
Industrywide, vehicles in Canada retained approximately 77 percent of their MSRP on average after three years of ownership, which is the second-highest in the study’s history, down from 80 percent reported in 2022.
“This year we saw all winners retaining over 82 percent which is the first time BEVs have reached this mark. We can expect the overall retained value to continue to decrease next year as 2022 marked the peak in our used vehicle index,” said Yolanda Biswah, President of Canadian Black Book.
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