ALG, a division of J.D. Power which specializes in forecasting future vehicle values, recently announced the winners of its 2022 Canadian Residual Value Awards, recognizing the vehicles that are projected to hold the highest percentage of their original MSRP after a four-year period for mass-market models and after a three-year period for luxury models.
As we all know, a vehicle’s residual value is always something to consider at the time of purchase, because that’s how you can determine its actual cost. Depreciation is the single costliest aspect of car ownership, remember.
- Also: 10 Vehicles That Will Increase in Value in 2022 According to Hagerty
- Also: How to Assess the Value of Your Vehicle?
Numerous variables affect the actual residual value of a vehicle over time. Examples include mileage, quality/reliability, options and feature sets and macroeconomic environment.
The award process consists of evaluating 274 model lines through analysis of used-vehicle performance, brand outlook and product competitiveness. To account for differences across trim levels, model averages are weighted based on percentage share relative to the entire model line.
- Best Micro Utility: Hyundai Kona
- Best Subcompact Car: Kia Rio
- Best Subcompact Utility: Subaru Crosstrek
- Best Premium Subcompact Utility: Lexus UX
- Best Compact Car: Volkswagen Golf GTI
- Best Premium Compact Car: BMW 2 Series
- Best Compact Utility: Toyota RAV4
- Best Premium Compact Utility: Mercedes-Benz GLB
- Best Midsize Car: Toyota Camry
- Best Premium Midsize Car: Lexus IS
- Best Midsize Utility (2 rows): Honda Passport
- Best Midsize Utility (3 rows): Toyota Highlander
- Best Premium Midsize Utility (2 rows): Land Rover Range Rover Sport
- Best Premium Midsize Utility (3 rows): Lexus GX
- Best Full-size Car: Nissan Maxima
- Best Premium Full-size Car: Genesis G80
- Best Full-size Utility: GMC Yukon
- Best Premium Full-size Utility: Cadillac Escalade
- Best Premium Executive Car: Mercedes-AMG GT 4-Door Coupe
- Best Sports Car: Subaru WRX
- Best Premium Sports Car: Chevrolet Corvette
- Best Electric Car: Chevrolet Bolt EV
- Best Premium Electric Car: Porsche Taycan
- Best Off-road Utility: Toyota 4Runner
- Best Minivan: Toyota Sienna
- Best Midsize Pickup: Toyota Tacoma
- Best Full-size Pickup: Toyota Tundra
- Best Heavy-duty Full-size Pickup: Chevrolet Silverado 2500HD
You can compare the 2022 ALG winners with last year’s recipients.