Honda SUVs Earn Top Spot in Brand Loyalty
Honda's SUV lineup has claimed the number one position in brand loyalty among mainstream SUV owners, according to the J.D. Power 2024 Automotive...
Read moreCanadian Black Book Award: Honda in the top tier once again
In the marketplace, the value that a vehicle retains over the years is crucial to any buyer. First, when leasing, it will allow him to benefit from better monthly payments. Then, when they resell it, they will be able to recover a good part of their initial outlay. And by buying a used model, it will keep a good value on the market, knowing its history in this matter.
That's why the Canadian Black Book (CBB) awards have been popular every year for the past 14 years. They give everyone a fair and balanced view of the market across 23 industry segments.
And once again, the 2021 mentions are flattering to Honda. This proves what we already know, but let's analyze how the brand's models stood out.
First, it's worth mentioning that the CBB gives out three overall awards, first for Best Retained Value for a car, then for SUVs and pickups, and then for luxury products. In the car category, it was Honda that dominated its rivals.
Now, across the 23 categories, we saw 5 vehicles being recognized as the best of their horde. So, considering the 2017 models, as CBB is interested in vehicles that are 4 years old, the Fit, Accord, Odyssey, CR-V, as well as the HR-V all dominated their competitors.
For the CR-V, we're talking about a new honor. As for the Odyssey, it is a regular; it has received this award 8 times in the last 10 years.
The Civic and the Ridgeline pickup were nominated to finish 2nd and 3rd, respectively, in their segments. Great performance.
The resale value of vehicles has always been an important selling point and this has been even more the case over the past two years. In fact, in 2019, 4-year-old vehicles retained an average of 52% of their MSRP. This year, that's jumped to 61.5%, largely due to the pandemic changing habits, as well as the microchip crisis.
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