Canadian Black Book will announce the 15th edition of its Best Retained Value Awards on November 8, after “considerable changes” were made—including the launch timing, new vehicle categories, and a new measurement algorithm.
CBB also plans to unveil its inaugural Canadian Black Book Residual Value Awards in February 2022.
“The auto industry is evolving, and Canadian Black Book is following suit. As a result, our Awards needed to advance as well,” said Yolanda Biswah, Senior Vice President and General Manager at Canadian Black Book. “Our Retained Value Awards, which will be announced later this month, and our new Residual Value Awards need to reflect the rapid growth of zero emissions vehicles in the marketplace today and what will be on the roadways soon.”
The company said its Best Retained Value Awards categories will see “significant” change and will be reduced to 18 categories in total, from 23. The new categories will be:
- Overall Brand Awards—car, SUV/truck, luxury, ZEV
- Car—main, luxury, prestige
- Sport Car—main, luxury
- Pickup—small pickup, full-size pickup
- SUV—main compact/subcompact, main mid/full, luxury
- ZEV—main, luxury
- Van—compact van, full-size van
CBB also said the awards in November will include a new “Most Improved” category, which is meant to recognize the model making substantial gains in retained value.
Hancock said they believe the CBB awards are “the most accurate barometer for best retained and residual values,” and to prove it, “we will directly compare our residual value predictions with our actual retained values when the time comes.”
Moving forward, CBB will announce its Best Retained Value Awards in October, and its Best Residual Value Awards in February.
