General Motors-owned luxury brand Cadillac has received three residual value awards from Canadian Black Book.
Canadian Black Book says its annual Best Residual Value Awards “recognize vehicles which are expected to hold the highest value of their original MSRP 48 months after the original date of purchase.” This year’s awards cover 21 different vehicle segments. To qualify for a Residual Value Award, the vehicle must have been on sale by January 1st, 2022 and included in the January /February Canadian Black Book Residual Value guide. Value forecasts are based on a 48-month window with an annual average mileage of 24,000 kilometres.
Cadillac took home a total of three Canadian Black Book awards this year. The Cadillac Escalade won the Luxury SUV segment and also took top honors in the overall SUV segment, which includes compact, mid-size and full-size crossovers, as well as full-size SUVs. The American luxury brand also received the ‘Most Improved’ award, with the latest Cadillac products holding their value much better than some of the brand’s older offerings.
The overall winner in the 2022 Best Residual Value Awards was Toyota, while its Lexus brand won the Luxury segment overall. Kia, meanwhile, had the best residual values among zero-emissions vehicles for the Soul EV, which is a direct competitor with the Chevy Bolt EUV.
GM performed well in this study between its Cadillac, Chevy and GMC brands. The Chevy Corvette won a segment award in the luxury sports car category, while the Chevy Express won the full-size van category and the GMC Terrain won the subcompact/compact crossover category. GM took home the second-most awards in the study overall behind Toyota.
The Canadian Black Book is a reliable reference for used car values in Canada and allows users to attain and compare used car values for vehicles up to 14 years old. The website can be a good way for private owners to determine a good trade-in offer for their vehicle, or if they are receiving a good deal when shopping for a second-hand vehicle.