New Cars and Trucks with the Highest Residual Value in 2023

ALG, a division of J.D. Power which specializes in forecasting future vehicle values, today announced the winners of its 2023 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.

Remember, depreciation is the single costliest aspect of car ownership, which is why 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.

Numerous variables affect the actual residual value of a vehicle over time. Examples include mileage, quality/reliability, options and feature sets and macroeconomic environment. 

ALG's award process consisted of evaluating 272 model lines through analysis of used-vehicle performance, brand outlook and product competitiveness. To account for differences across trim levels, model averages were weighted based on percentage share relative to the entire model line.

Photo: Lexus

Similar to last year, Toyota (mass market) and Lexus (luxury) won the awards for top brands in their respective segments. Below is the complete list of ALG’s 2023 Canadian Residual Value Awards:

You can compare the 2022 ALG winners with last year’s recipients.

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