Corvette Stingray Wins Kelly Blue Book’s 2022 Best Resale Value Award

The latest award for the C8 Corvette comes as no surprise to anyone trying to buy or sell a mid-engine Stingray on the used-car market over the past couple of years.

The red-hot eighth-generation Corvette – which has been selling for tens of thousands of dollars above MSRP on the used-car market – has just been named the winner in Kelley Blue Book’s Best Resale Value Award in the Sports Car Category and also was named to KBB’s listing of the Top 10 Cars for 2022 Best Resale Value.

The Stingray joined another General Motors product in the overall Top 10 list, the GMC Sierra pickup. Individually, the GMC Yukon was the winner in the Full-Size SUV category.

The 20th annual Best Resale Value Awards recognize vehicles for their projected retained value through the initial five-year ownership period.

Residual values used for award calculations are based on the 2022 model-year vehicles that appear in the January/February 2022 Kelley Blue Book Residual Value Guide.

KBB says understanding a car’s resale value can make the difference of hundreds, if not thousands, of dollars in the long run.

Though pandemic-influenced supply-chain issues have caused new cars to become more expensive to purchase, KBB predicts prices should gradually level out as inventory supplies rise and settle into more normal patterns over time.

Nevertheless, “…given the fact that the average cost for a new car at the end of 2021 topped $47,000, new-car shoppers in 2022 would be wise to pay more attention than ever to their vehicle’s resale value – what a vehicle will be worth down the line when going to sell or trade it in,” KBB says. “While most car buyers understand that their vehicle will depreciate, many are not fully aware to what extent and how much this amount can vary from model to model.”

Source:
KBB / PRNewswire

Related:
Chevrolet’s C8 Corvette Wins J.D. Power’s 2022 Canada ALG Residual Value Award
Corvette Wins Its Category in the 2020 J.D. Power U.S. Resale Value Awards
C8 Corvette Named One of Kelley Blue Book’s 10 Most Awarded Cars of 2020