Toyota, Mazda and Ford were the top mainstream brands while BMW and Volvo took top luxury brand honors in Vincentric's fifth annual Best Value in Canada awards.

Honda also fared well, with four vehicles winning Vincentric awards.

At the manufacturer level, Toyota Motor Corp. led the way with eight winning vehicles, two of which came from its Lexus luxury brand. Ford’s F-Series pickups dominated the full-size pickup categories, taking home all three awards, while Mazda showed strength in the compact and subcompact segments.

“The data analyzed to determine our awards showed the broad range of high-value vehicles in the Canadian market,” Vincentric president David Wurster said in a news release. “When manufacturers measure and manage a vehicle’s total cost of ownership, they are able to consistently deliver high value to consumers.”

Using a statistical model and eight ownership cost factors, Vincentric identifies the winners by measuring which vehicles had lower-than-expected ownership costs given their market segment and price. Ownership costs measured were depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost and repairs. Each vehicle was evaluated in all 10 provinces plus the Northwest Territories using a range of annual kilometer intervals and insurance profiles.

Additional information about the awards is available here