Once again, the top 10 models in Kelley Blue Book’s Best Resale Value Award Winners list are dominated by trucks. One exception is what Kelley Blue Book director of residual values Eric Ibara describes as the “much-hyped” 2020 Chevrolet Corvette.
“Without the imminent prospect of significantly higher gas prices, the used-car demand for trucks continues to be an ongoing, multi-year trend, directly impacting new cars,” Ibara said in a news release.
Kelley Blue Book says “to help new-car buyers shop smart,” it is announcing its 2020 model-year brand, category and top 10 winners of the annual Best Resale Value Awards. The Best Resale Value: Brand winner is Subaru, and the Best Resale Value: Luxury Brand winner is Porsche.
The awards recognize vehicles for their projected retained value through the initial five-year ownership period.
Subaru wins the Best Resale Value: Brand category for the fourth time, with previous wins in 2011, 2015 and 2016. Porsche’s win as Best Resale Value: Luxury Brand is its fourth straight honor in the category.
Kelley Blue Book’s Best Resale Value Awards are now in their 18th year and are based on projections from the Kelley Blue Book Official Residual Value Guide.
The company says many new-car buyers do not realize that depreciation often is the greatest expense drivers incur during the first five years of vehicle ownership. After a five-year ownership period, wn average 2020 model-year vehicle will only retain about 37% of its original value. Kelley Blue Book explains that means a $35,000 new car today will only be worth somewhere close to $12,950 after five years.
Kelley Blue Book says that in comparison, all vehicles in its Top 10 for Best Resale Value are projected to retain more than 50% of their MSRP.
This year’s top model, the 2020 Toyota Tacoma, is expected to be worth 61% of its MSRP after five years.
Resale value for new vehicles can vary greatly, according to Kelley Blue Book. The company says vehicles with average or below-average resale values are usually 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 typically are discounted the least and tend to generate high levels of consumer interest,” Kelley Blue Book writes.
Following is a list of the winners:
— 2020 best resale value, brand: Subaru
— 2020 best resale value, luxury brand: Porsche
2020 best resale value: By vehicle category
— Compact car: Subaru Impreza
— Midsize car: Subaru Legacy
— Full-size car: Toyota Avalon
— Entry-level luxury car: Lexus ES
— Luxury car: Lexus GS
— High-end luxury car: Porsche Panamera
— Sports car: Chevrolet Corvette
— Hybrid car: Toyota Prius Prime
— Electric vehicle: Tesla Model X
— Subcompact SUV: Subaru Crosstrek
— Compact SUV: Subaru Forester
— Midsize SUV – 2-ROW: Subaru Outback
— Midsize SUV – 3-ROW: Toyota Highlander
— Full-size SUV: GMC Yukon
— Luxury subcompact SUV: Volvo XC40
— Luxury compact SUV: Porsche Macan
— Luxury midsize SUV – 2-row: Porsche Cayenne
— Luxury midsize SUV – 3-row: Lexus GX
— Luxury full-size SUV: Lexus LX
— Off-road SUV: Jeep Wrangler 4-Door
— Midsize pickup truck: Toyota Tacoma
— Full-size pickup truck: Toyota Tundra
— Full-size pickup truck – heavy duty: Chevrolet Silverado HD
— Minivan: Honda Odyssey
2020 best resale value: Top 10 cars (alphabetical order)
— Chevrolet Corvette
— Chevrolet Silverado
— Ford Ranger
— GMC Sierra
— Jeep Gladiator
— Jeep Wrangler
— Ram Pickup
— Toyota 4Runner
— Toyota Tacoma
— Toyota Tundra