Toyota brands sweep KBB’s Best Resale Value awards for third consecutive year

Toyota Motor Corp. once again rules the roost when it comes to resale value, sweeping top honors in both brand categories of Kelley Blue Book’s 2024 Best Resale Value Awards for the third consecutive year.

The automaker’s signature brand, Toyota, won the top prize of Best Resale Value: Brand, and its sibling, Lexus, again earned the award for luxury brands. The win was fourth in a row and the eighth overall for Toyota, while Lexus claimed the luxury brand title for the fifth time.

The 22nd annual awards recognize vehicles for their projected retained value through the initial five-year ownership period.

Lexus led all brands with six models earning Best Resale Value awards in their category, followed by Toyota with five and Honda and Ford with three each.

Ford’s Bronco, which won the off-road SUV category, also took top spot on KBB’s list of top 10 resale values for all vehicles, with a projected value of 66.7% of its original sticker price in five years.

The top 10 also included the Toyota Tacoma (62.6%), Mercedes-Benz G-Class (61.2%), Toyota Tundra (60.4%), Chevrolet Corvette (59.0%), Toyota GR Supra (57.2%), Toyota Prius (55.3%), Toyota 4Runner (54.6%), Porsche 718 Cayman (54.2%) and Ford Maverick (54.0%).

Among electric vehicles, newcomer Rivian earned its first Best Resale Value award, as the R1S not only won the electric SUV category but also ranked No. 1 among all EVs at 47.0%.

KBB said the average for all new cars is 42.4%.

“The automotive landscape continues to change rapidly, with more new introductions of brands and models with varying powertrains each year,” KBB senior manager of valuation operations Rheia Szymczyk said in a news release. “Consumers now have more electric vehicle, plug-in and hybrid options than ever before, and we continue to modify our Best Resale Value Awards categories accordingly to accurately reflect the marketplace.”

The complete list of winners is available here.