Toyota is still king when it comes to strong resale value. Kelly Blue Book gave the title of Best Resale Value to Toyota the 2013 model year while Lexus, the luxury division of Toyota, earned the top spot in the luxury category. This is the second straight year that the two brands won.
These awards, which are included in KBB’s 2013 Residual Analysis Report, are the brands that are expected to keep their value the best after being owned for five years. Both brands also received the awards in 2010.
Eric Ibara, director of residual consulting for Kelley Blue Book, said that the past two years for Toyota were difficult but it has recovered and never lost its “competitive spirit.”
Ibara added that even as Toyota struggled from a massive recall due to unintended acceleration issues and the supply interruption from the natural disaster in 2011, the brand was able to keep residual value levels consistent with its historical averages.
Toyota was able to get back the market share lost to rivals during this period. He added that this is why Toyota’s accomplishment to remain Best Resale Value:
Brand for two consecutive years is even more impressive. KKB said that Toyota’s resale value rose by 3% since the previous year due to the FJ Cruiser and Tacoma, as well an an 8% climb for the Avalon. The FJ has the best resale value of any vehicle, being rated at 63% of its original value after five years. Tacoma takes second place at 57%.
“We are thrilled that KBB.com has selected Toyota for its Best Resale Value Brand award, and we appreciate Kelley Blue Book’s efforts to help increase consumer awareness as to the importance of resale value when purchasing a car“, said Bill Fay, Group Vice President and General Manager of Toyota division.