In the Sports Car: Luxury category of the Canadian Black Book 2023 Best Retained Value Awards, the Chevy Corvette emerged victorious, having retained the most percentage of its original MSRP as a used vehicle among the competitors.
The brand was also selected as the most likely to retain maximum value in 2027, four years after its initial sale, and it won first place in its category in the Canadian Black Book 2023 Best Residual Value Award for the 2023 Chevy Corvette back in March of this year.
Although prices remain high, CBB anticipates a decline in retained value as a proportion of MSRP, culminating in decreased retention by 2024. When it came to maintaining maximum value, electric cars performed better than the entire vehicle market. All six models in the BEV Main and BEV Luxury categories managed to hold onto 82 percent or more of their original sticker price.
In addition to the Chevrolet Corvette, a number of other Chevy models were recognised in this year’s awards; the Chevy Spark and the Chevy Silverado 1500 came in second and third in their respective classes. In the category of cars for the Overall Brand Award, the Bow Tie brand itself came in second.
The 2023 Chevy Corvette was also named the most likely to maintain maximum resale value over a three-year period following original purchase, winning the J.D. Power Canada ALG Residual Value Award in the Premium Midsize Sports Car category earlier this year.
