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Toyota Canada Inc. Receives Nine Prestigious Residual Value Awards from Canadian Black Book

March 7th, 2024

Introduction: Recognizing Excellence in Value Retention

Toyota Canada Inc. has once again solidified its position as a leader in the automotive industry by receiving nine coveted 2024 Best Residual Value Awards from Canadian Black Book (CBB). These awards, including Overall Brand Awards in both the Car and SUV/Truck categories, underscore Toyota's commitment to providing high-quality vehicles that retain their value over time.

Understanding the CBB Residual Value Awards

The CBB 2024 Best Residual Value Awards are a testament to a vehicle's projected value retention over the course of 48 months post-purchase. These awards, presented across 21 categories encompassing cars, trucks, SUVs, and EVs, recognize the vehicles expected to hold the largest percentage of their Manufacturer's Suggested Retail Price (MSRP) after four years on the road.

Toyota's Dedication to Customer Satisfaction

Cyril Dimitris, Vice-President of Sales at Toyota Canada, emphasized the company's commitment to customer satisfaction and product quality. He stated, "Putting our customers first and providing high quality, durable products is part of our foundation, and we’re thankful for the continued confidence and trust." This customer-centric approach has undoubtedly contributed to Toyota's success in receiving these prestigious awards.

Celebrating Excellence: Award-Winning Models

Among the standout models recognized by CBB are the Lexus IS-Series, awarded in the Car: Luxury category, and the Toyota Tundra, recognized in the Full-size Pickup segment. Additionally, the Toyota RAV4 Prime secured the PHEV Main award, while the Toyota Supra GR earned accolades in the Sport Car: Main category. Other notable winners include the Toyota RAV4 and 4Runner in the SUV segments, along with the Lexus UX-Series in the Luxury Compact/Sub-compact SUV category.

The Role of Canadian Black Book

For over six decades, Canadian Black Book has been a trusted authority in providing vehicle values to the Canadian automotive industry. Their comprehensive services, including vehicle valuations, residual value forecasts, and VIN decoding, are utilized by dealers, manufacturers, leasing companies, finance institutions, insurance agencies, and wholesalers. The Canadian Black Book Enhance Vehicle Matching (EVM) solution further enhances the accuracy of vehicle valuations by decoding 17-digit VINs down to the specific trim package, enabling stakeholders to make informed decisions.

Conclusion: A Testament to Toyota's Commitment to Excellence

In conclusion, Toyota Canada Inc.'s receipt of nine 2024 Best Residual Value Awards from Canadian Black Book reaffirms the company's dedication to providing high-quality vehicles that retain their value over time. With a focus on customer satisfaction and product quality, Toyota continues to set the standard for excellence in the automotive industry. As consumers seek vehicles that offer both reliability and value, Toyota remains a trusted choice for drivers across Canada.