Toyota Motor Corp. dominated the competition at Kelley Blue Book’s 2024 Best Resale Value Awards, securing top honors in both brand categories for the third year in a row. The renowned automaker’s Toyota brand took home the prestigious Best Resale Value: Brand award, while its luxury brand, Lexus, was once again recognized as the top luxury brand.
This marks Toyota’s fourth consecutive win and eighth overall, while Lexus clinched the luxury brand title for the fifth time. The awards, now in their 22nd year, spotlight vehicles that are projected to retain their value over the initial five-year ownership period.
Lexus stood out with six models earning Best Resale Value awards in their respective categories, leading the pack. Toyota followed closely behind with five winners, with Honda and Ford each securing three awards.
Ford’s Bronco, which was crowned the winner in the off-road SUV category, also claimed the top spot on KBB’s list of the top 10 resale values for all vehicles. The Bronco is projected to retain an impressive 66.7% of its original sticker price after five years, showcasing its strong resale value.
Other vehicles in the top 10 list included the Toyota Tacoma, Mercedes-Benz G-Class, Toyota Tundra, Chevrolet Corvette, Toyota GR Supra, Toyota Prius, Toyota 4Runner, Porsche 718 Cayman, and Ford Maverick.
In the electric vehicle category, Rivian made a strong debut with its R1S model, earning its first Best Resale Value award. The R1S not only won the electric SUV category but also claimed the top spot among all EVs with a projected resale value of 47.0%.
According to KBB, the average projected resale value for all new cars stands at 42.4%. Rheia Szymczyk, KBB’s senior manager of valuation operations, highlighted the evolving automotive landscape with the increasing availability of electric, plug-in, and hybrid options. The Best Resale Value Awards categories are continuously adapted to reflect these changes in the marketplace.
The complete list of winners can be found on the Kelley Blue Book website.