If your looking for a car with a strong resale value, you can’t go wrong with Toyota. The Japanese automaker was awarded the title of Best Resale Value by Kelley Blue Book for the 2013 model, while Toyota’s subdivision Lexus took top honors in the Luxury division. Aside from KBB’s 2013 Residual Analysis Report, the awards signify which brands are predicted to hold onto their value the best after five years of ownership. Both Toyota and Lexus have claimed their awards for the second consecutive year and both also won in 2010.
“After the past two tumultuous years, Toyota bounced back in 2012 to prove it hadn’t lost its competitive spirit,” said Eric Ibara, director of residual consulting for Kelley Blue Book. “Enduring some of its darkest days in the U.S. market after unintended acceleration issues caused a massive worldwide recall of Toyota models, the brand manages to retain residual value levels consistent with its historical averages. If the recall wasn’t enough, the 2011 tsunami in Japan resulted in severe disruptions in supply. However, Toyota prevailed and regained the market share it lost to other automakers during this time frame It is quite an accomplishment when you think about the challenges Toyota has overcome to remain Best Resale Value: Brand for the past two years in a row.”
According to KBB, thanks to the FJ Cruiser and Tacoma as well as an 8 percent increase from the Avalon, Toyota’s resale value increase 3 percent since last year. With the best resale value of any vehicle, the FJ rated at 63 percent of its original value after five years. Following in second, the Tacoma rated at 57 percent. Lexus on the other hand thanks numerous strong models, with four taking top spot in their categories including the IS, GS350, RX450h, and the LX570.
“It’s an honor to be named Kelley Blue Book’s prestigious 2013 Best Resale Value Award in the Luxury Brand category,” said Mark Templin, Lexus group vice president and general manager. “We work hard to create the best overall ownership experience and having the best resale value is an important part of the success of Lexus.”