Dealers Can Sell Shoppers on High Resale Values

Kelley Blue Book releases car lists with best resale margins.

Nancy Dunham, Principal Analyst/Retail

March 15, 2024

1 Min Read
Money
Resale values can translate into hundreds or thousands of dollars.Getty Images

Dealers have a new gadget in their toolkit thanks to Kelley Blue Book’s 22nd annual Best Resale Value Awards.

Those who sell models on the list can assure shoppers that the car’s resale value may translate into hundreds or thousands of dollars. The study recognizes vehicles for their projected retained value through the initial five-year ownership period.

"The automotive landscape continues to change rapidly, with more new introductions of brands and models with varying powertrains each year,” says Rheia Szymczyk, senior manager of valuation operations for Kelley Blue Book. “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.”

This year marks the first Best Resale Value Award for EV startup Rivian, which is being honored for its successful R1S electric SUV. For the third consecutive year, Toyota wins Best Resale Value: Brand, and its sibling Lexus wins Best Resale Value: Luxury Brand.

Residual values used for award calculations are based on the 2024 model-year vehicles that appear in the January/February 2024 Kelley Blue Book Residual Value Guide. 

The winning models:

2024 Best Resale Value by vehicle category:

  • Compact Car: Honda Civic

  • Midsize Car: Honda Accord

  • Sports Car: Chevrolet Corvette

  • Minivan: Toyota Sienna

  • Luxury Compact Car: Lexus IS

  • Luxury Midsize Car: Lexus ES

  • Luxury Fullsize Car: Lexus LS

  • HEV/PHEV: Toyota Prius

  • Electric Car: Hyundai IONIQ 6

  • Luxury Electric Car:  Mercedes-EQ EQS

  • Electric SUV:  Rivian R1S

  • Luxury Electric SUV:  Cadillac Lyriq

  • Electric Truck: Ford F-150 Lightning

  • Off-Road SUV: Ford Bronco

  • Subcompact SUV: Subaru Crosstrek

  • Midsize SUV: Hyundai Palisade

  • Fullsize SUV: Toyota Sequoia

  • Luxury Subcompact SUV: Lexus UX

  • Luxury Midsize SUV: Lexus RX 

  • Luxury Fullsize SUV:  Mercedes-Benz G-Class

  • Compact Pickup Truck:  Ford Maverick

  • Midsize Pickup Truck:  Toyota Tacoma

  • Fullsize Pickup Truck:  Toyota Tundra

2024 Best Resale Value: Top 10 Cars

  • Chevrolet Corvette

  • Ford Bronco

  • Ford Maverick

  • Mercedes-Benz G-Class

  • Porsche 718 Cayman

  • Toyota 4Runner

  • Toyota GR Supra

  • Toyota Prius

  • Toyota Tacoma

  • Toyota Tundra

 

 

About the Author(s)

Nancy Dunham

Principal Analyst/Retail, WardsAuto

Nancy Dunham is a former staff member or contributor to NADA publications, US News & World Report, Automotive News, MotorTrend and other automotive and general interest publications.
Contact her at [email protected] or

https://www.linkedin.com/in/nancydwrites/.

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