Those looking for a car with strong resale value can’t go wrong with Toyota. The Japanese automaker was awarded the title of Best Resale Value by Kelly Blue Book for the 2013 model year, while Toyota luxury division Lexus took top honors in the Luxury division.
A part of KBB’s 2013 Residual Analysis Report, the awards signify which brands are predicted to hold onto their value the best after five years of ownership.
Both brands have claimed their awards for the second consecutive year, and both also won in 2010.
“After the past two tumultuous years, Toyota bounced back in 2012 to prove it hadn’t lost its competitive spirit,” said Eric Ibara, director of residual consulting for Kelley Blue Book. “Enduring some of its darkest days in the U.S. market after unintended acceleration issues caused a massive worldwide recall of Toyota models, the brand managed to retain residual value levels consistent with its historical averages. If the recall wasn’t enough, the 2011 tsunami in Japan resulted in severe disruptions in supply. However, Toyota prevailed and regained the market share it lost to other automakers during this timeframe. It is quite an accomplishment when you think about the challenges Toyota has overcome to remain Best Resale Value: Brand for the past two years in a row.”
According to KBB, Toyota’s resale value increase 3 percent since last year, thanks to the FJ Cruiser and Tacoma, as well an an 8 percent increase for the Avalon. The FJ has the best resale value of any vehicle, rated at 63 percent of its original value after five years. In second place is the Tacoma at 57 percent.
The win for Lexus comes thanks to numerous strong models, with four taking top spot in their categories, including the IS, GS350, RX450h and the LX570.
“It’s an honor to be named Kelley Blue Book’s prestigious 2013 Best Resale Value Award in the Luxury Brand category,” said Mark Templin, Lexus group vice president and general manager. “We work hard to create the best overall ownership experience and having the best resale value is an important part of the success of Lexus.”
In total, Toyota models dominated the list of the Top 10 vehicles with the best resale value after 60 months, taking six of the 10 spots.