Whether on the road or track, history tends to repeat itself with Porsche. After attaining the highest podium position in the Canadian Black Book (CBB) “2021 Overall Brand Award – Luxury” for three years in a row, the German performance brand once again secured top spot in the 2021 study.
While Porsche scores strongly within all the categories it competes in, the Panamera retained the highest percentage of any rival in the Prestige Luxury Car class, and has done so for eight years running. Likewise, the Macan, which took first in its Compact Luxury Crossover category once again, has held the position for three consecutive years, while the 911, dominating the Premium Sporty Car class, is enjoying its second year on top.
“We are honoured and delighted to accept the Overall Brand Award – Luxury as well as three model accolades from Canadian Black Book this year,” stated Marc Ouayoun, President and CEO, Porsche Cars Canada, Ltd. “Consumers have many available choices in the market and we welcome these recognitions, which provide an additional reason to consider the brand. These outstanding acknowledgments by the leading authority highlight strong value retentions which ultimately benefit the customer.”
To be clear, the CBB study ranks vehicles on the retained percentage of their manufacturer suggested retail price (MSRP) after four years. Retaining the highest value means ownership costs less when it comes time for resale or trade-in.
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Story credits: Trevor Hofmann
Photo credits: Porsche
The Canadian Black Book (CBB) gave two of Porsche’s models top ratings in their respective categories for retained value, helping to the German marque earn best overall luxury brand honours in the…
The Canadian Black Book (CBB) gave two of Porsche’s models top ratings in their respective categories for retained value, helping to the German marque earn best overall luxury brand honours in the third-party rating firm’s 2018 Best Retained Value Awards.
CBB once again awarded the Panamera four-door coupe with its most coveted prize in the “Premium Luxury Car” category, resulting in its fifth consecutive title, and did likewise for the Cayenne sport utility in the “Midsize Luxury SUV”, which has won the award three years in a row.
“We are delighted to accept the Overall Brand – Luxury and the two model awards from Canadian Black Book,” said Marc Ouayoun, President and CEO, Porsche Cars Canada, Ltd. “These acknowledgments by the leading authority reinforce the value retention of our product line which ultimately benefit our customers.”
Possibly more important than singling out specific models, the overall brand award is recognition for best average retained value throughout Porsche’s entire lineup, with Porsche entire product portfolio retaining 66 percent of its value over four years.
This means if you purchase a Porsche 718 Cayman, 718 Boxster, one of the many 911 models, or a Macan SUV, plus of course the Panamera and Cayenne that won their categories, you’ll have a better chance of holding onto more of its value over four years than a given competitor, unless that challenger won its segment in this year’s Best Retained Value Awards.
To clarify, the 718 Boxster two-seat convertible took home CBB’s “Premium Sports Car” category last year, but this year the honours went to the Chevrolet Corvette, with the Boxster coming in second and the Porsche Cayman rounding out the top three spots, an impressive showing for Porsche just the same.
On that note, other premium nameplate winners included the Mercedes-Benz CLA-Class for best “Entry Luxury Car” (a category Porsche doesn’t compete in), the Lexus GS Series for best “Luxury Car” (ditto), the Mercedes-Benz GLK-Class (now replaced by the GLC-Class) for best “Compact Luxury Crossover/SUV”, with the Macan not even showing up in the top-three that’s otherwise filled out by the new Audi Q5 in second and Range Rover Evoque in third, and finally the Mercedes-Benz G-Class for CBB’s “Full-size Luxury Crossover/SUV” category (that also has no Porsche competitor).
Of note, the Panamera had to overcome strong challengers in order to win the “Premium Luxury Car” category, including the second-place Mercedes-Benz S-Class and third-place Mercedes-Benz CLS-Class, while the Cayenne muscled out the Lexus GX 460 and Lexus RX 350 to take home this year’s title.
“If you are the owner of one of these award winners and hold a loan or in some cases even a lease for the vehicle, you could be in a better position when it comes time to get into a new vehicle,” says Brian Murphy, VP Research and Editorial, at Canadian Black Book. “High depreciation, the single most expensive cost of owning a vehicle, can be a back breaker, especially if you are in a long-term loan, holding many consumers in negative equity where their vehicle is worth less than the outstanding amount due on the loan for almost the entire term of the loan”
All said the future might not be as positive for retained values overall as the last four years were, whether discussing Porsche or its competitors.
“What a great year for retained values,” commented Brad Rome, President, Canadian Black Book. “That said, the feeling is that we are getting close to the turning point where values are going to begin to retreat.Market conditions, most notably the increase in supply in the U.S. and Canada is expected to put downward pressure on prices moving forward.”
In case you missed it, the 2018 Fit, 2018 Accord, and 2018 Odyssey received Residual Value Awards from ALG, which means that all three are predicted to lead their segments in retained value after three…
In case you missed it, the 2018 Fit, 2018 Accord, and 2018 Odyssey received Residual Value Awards from ALG, which means that all three are predicted to lead their segments in retained value after three years of ownership.
Key to retaining value is class leading quality, leading-edge technologies and market acceptance, all descriptors of the three winning Hondas, with the redesigned 2018 Fit adding more style, soft-touch premium surfaces, digital interfaces and available equipment to its subcompact category, while maintaining its class-leading passenger and cargo versatility, allowing it to take top honours in ALG’s “Subcompact Car” category for four consecutive years.
The 2018 Accord’s redesign has even been more comprehensive, and delivers an even more compelling argument for ownership in its mid-size sedan segment. ALG particularly noted above-average technology, safety and driving dynamics, all of which combined to earn it highest marks in ALG’s “Midsize Car” category.
Lastly, the redesigned 2018 Odyssey has addressed the minivan segment with some innovative ideas, including totally unique multi-configurable Magic Slide second-row seats, plus CabinWatch and CabinTalk technologies that take the old conversation mirror to new levels, helping it win ALG’s “Minivan” category.
Annual ALG Residual Value Awards are given to vehicles based on their predicted ability to retain their original price after three years of purchase. Awards are meted out in 26 categories.
“Strong residual values are the bedrock of successful brands. A vehicle’s ability to retain its value over time is an important consideration for consumers looking to purchase or lease a vehicle,” said Jim Nguyen, president of ALG. “With vehicle leasing at near-record levels and headwinds for used vehicle values on the horizon, consumers can have confidence in their choice of a Residual Value Award winner for their next vehicle.”
ALG award winners are chosen after carefully studying all the competitors in each category, including their historical performance and industry trends. Other deciding factors include model and brand quality, production levels relative to market demand, plus pricing and marketing strategies.
Earning three ALG Residual Value awards puts Honda into rare company amongst mainstream volume brands, with only Subaru and Toyota winning more. Subaru split its earnings amongst cars and crossover SUVs, whereas Toyota received all of its honours within the SUV and truck segments. Honda, on the other hand, was strongest in the car sector.
Audi and Subaru have been named best Mainstream Brand and best Premium Brand respectively in ALG’s 2018 Canadian Residual Value Awards (RVA), an important benchmark used for forecasting future vehicle…
Audi and Subaru have been named best Mainstream Brand and best Premium Brand respectively in ALG’s 2018 Canadian Residual Value Awards (RVA), an important benchmark used for forecasting future vehicle values by auto industry professions.
Now in its 10th year, ALG’s RVA projects future values of new models from 26 separate market segments, ranging from “Alt-fuel” to “Fullsize Commercial Van” and everything in between. There are many ways to measure value, although within the car industry the difference between the initial price paid for a new vehicle and its resale value after three or four years is a key parameter. ALG uses the average ownership duration of four years to determine mainstream volume brand values and three years for premium brands, with the results showing both Subaru and Audi are tops in their respective sectors.
“Depreciation is the single biggest cost of vehicle ownership, and informed consumers understand the importance of resale value when making their purchase decision,” said Eric Lyman, vice president of ALG. “The ALG Residual Value Award is a meaningful achievement in the hyper-competitive automotive landscape. Residual values are a key indicator for the market success of a vehicle, factoring in quality, product execution and brand desirability as primary drivers of ALG’s forecast.”
This is Subaru’s fourth consecutive RVA mainstream brand win, showing an impressive consistency in quality, execution and desirability. This year the brand earned four segment awards, including the Impreza in the “Compact” class, the Crosstrek in the “Subcompact Utility” segment, the Outback in the “Midsize Utility 2nd Row Seating” segment, and the WRX in the “Sportscar” segment.
Other notable mainstream brands include Toyota that dominated SUV and truck segments with five RVAs including the Tundra achieving its eighth consecutive year topping the “Fullsize Pickup” category, the Tacoma at five RVA “Midsize Pickup” class awards in a row, the Highlander winning the “Midsize Utility 3rd Row Seating” segment, the 4Runner in the “Off-Road Utility” class, and the Sequoia earning top marks in the “Fullsize Utility” category. Honda received three RVA segment awards including the Fit in the “Subcompact” class, Accord in the “Midsize” category, and Odyssey in the “Minivan” segment.
Nissan managed two winners including the Rogue in the “Compact Utility” class and Maxima in the “Fullsize” segment, while the only one-off deserving mention is Kia’s Niro in the “Alt-fuel” category.
Audi, which has experienced a dramatic upsurge in new vehicle sales in recent years, achieved four category wins including the A5 in the “Premium Midsize” class, A7 in the “Premium Fullsize” segment, Q5 in the “Premium Compact Utility” segment, and Q7 in the “Premium Midsize Utility 3rd Row Seating” category.
“Audi has emerged in recent years as a contender in the luxury space against top European rivals, finding success with new product entries in the utility space and emphasizing innovative technologies that have resonated well with luxury consumers,” stated an ALG press release.
Mercedes also took home four awards, albeit with two in the commercial sector. The winners included the Metris in the “Midsize Commercial” segment and the Sprinter in the “Fullsize Commercial” category, while its CLA Class took home top marks amongst “Premium Compact” models, and the G-Class achieved the highest score in the “Premium Fullsize Utility” segment.
No other premium brand earned multiple RVAs, but notable mentioned include the Maserati Quattroporte in the “Premium Executive” class, the Porsche 718 Boxster in the “Premium Sportscar” segment, and the Land Rover Range Rover Velar in the “Premium Midsize Utility 2nd Row Seating” category.