Corvette Wins Canadian Black Book 2023 Best Retained Value Award

Chevy made no secret that one of the cars it used to benchmark its new mid-engine C8 Corvette was the Porsche 911.

That hard work by the GM team continues to pay off, with the 2023 Corvette beating the Porsche to earn another award.

This time, the Chevy was the winner in the Sports Car: Luxury category of the 16th annual Canadian Black Book 2023 Best Retained Value Awards, beating out the Porsche 911 and Porsche 718 Boxter.

These awards honor the vehicles predicted to retain the highest percentage of original MSRP in 2027, four years after their original sale.

The 2020 pandemic and the resulting supply chain and production problems in the years following have combined to increase the values of all used cars, including the Corvette.

Used car residual value in Canada appears to have peaked in 2022, however, when the average figure was 80 percent of MSRP, with that number dropping slightly in 2023 but still the second-highest value ever at 77 percent.

Led by the Corvette, Spark (second in the Car: Main category), and Silverado 1500 pickup (third in Full-Size Pickup category), Chevy finished second overall behind Honda in the Overall Brand Award: Car.

Another GM division finished first in the Most Improved category, with Cadillac taking that honor on the strength of a Car: Luxury win for its CT5 model.

The winners for the 16th Annual CBB Best Retained Value Awards are as follows:

Source:
CanadianBlackBook.com

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