BINGHAM FARMS, MICHIGAN – October 6th, 2020 – The third annual Vincentric Best Certified Pre-Owned (CPO) Value in Canada™ Awards were announced today, with Ford topping the podium with six awards, including Best CPO Value Truck brand. Acura also had a strong showing for 2020, earning five total awards led by the Best CPO Value Luxury SUV & Crossover brand. Other top performers included Audi and Mazda with four awards each, with Audi earning Best CPO Value Luxury Car brand and Mazda earning Best CPO Value SUV, Crossover, & Van brand. Mitsubishi was the final brand winner, taking home the title of Best CPO Value Passenger Car brand along with two model-level awards.
Ford's strong performance was led by its F-Series pickup trucks, with the F-150, F-250, and F-350 each winning the Vincentric Best CPO Value in Canada™ Award for the third year in a row. The Acura ILX also delivered a third time win in the Luxury Compact segment.
Other award-winning brands included Volvo with two segment awards, while BMW, Buick, Dodge, Honda, Hyundai, Kia, Lexus, Toyota, and Subaru all had one model-level winner.
“Certified Pre-Owned vehicles are a great option for consumers who are looking for quality vehicles at a reduced cost," said David Wurster, Vincentric President. "In these uncertain economic times, it's more important than ever for shoppers to get the most value out of their vehicle purchases. Vincentric awards show consumers which vehicles provide the best value in their segments and empower buyers to make informed decisions that will provide long-term value.”
To determine the 2020 Vincentric Best CPO Value in Canada™ award winners, Vincentric conducted a statistical analysis to reveal which vehicles had lower than expected ownership costs given their market segment and price. Vincentric analyzed over 13,000 vehicle configurations using eight cost factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. The costs were measured after incorporating the specific CPO warranty offered by the manufacturer while also applying driving distance requirements necessary to be authorized as an OEM CPO vehicle. Each CPO vehicle was evaluated in all ten provinces plus the Northwest Territories, with the assumption that each vehicle is driven 20,000 kilometers annually over five years.