Cadillac CT5 Wins Canadian Black Book 2023 Best Retained Value Award

The Cadillac CT5 luxury sedan won the Canadian Black Book 2023 Best Retained Value Award in the luxury-car category as the model that kept the highest percentage of its original MSRP on the used-vehicle market.

Earlier this year, the 2023 Cadillac CT5 also won the Canadian Black Book 2023 Best Residual Value Award as the vehicle forecast to retain the greatest percentage of its value four years from now in 2027.

The Cadillac CT5 displaced a Mercedes-Benz model to take the 2023 Best Retained Value Award for the first time in the 16-year history of the awards. Another Cadillac vehicle, the Cadillac CT4, took the second place award in the category, with Mercedes keeping a foothold only in the third place with its Mercedes-Benz CLA.

High demand and short supply of used vehicles has contributed to strong retained value, creating several new records. Retained value in Canada peaked last year with an average of 80 percent of original value retained across all vehicles. This year, the average for 2020 model year vehicle retained value fell to 77 percent per CBB. 

The trend of declining retained value is expected to continue in 2024 as demand pressures on the used-vehicle market ease further. The 77 percent registered in 2023 is another record, second only to 2022’s figure. The six winning EV models – placing first, second, and third in the two categories of BEV Main and BEV Luxury – performed even better, retaining at least 82 percent of MSRP.

In addition to vehicle category wins with the Cadillac CT5 and Cadillac CT4, the GM luxury brand also took first place in the “Most Improved” category among overall brand awards. The awards consist of five brand award categories and 15 vehicle model categories in total.

Earlier this year, the Cadillac CT5 also won a residual value award from global research firm J.D. Power as a premium vehicles likely to hold the biggest percentage of original MSRP after three years on the Canadian market. However, it did not win the equivalent award in the USA.

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