BINGHAM FARMS, MICHIGAN – JUNE 9TH, 2022 – The 11th annual Vincentric Best Value in Canada™ Awards were announced today with Toyota Canada Inc. (TCI) earning more awards than any other manufacturer once again, making this the eleventh year in a row that TCI has received the most awards. Between the Toyota and Lexus brands, TCI earned ten awards, including the Best Value SUV & Van brand award for Toyota, and the Best Value Luxury SUV brand award for Lexus. The remaining brand awards went to Chevrolet for Best Value Truck brand, Audi for Best Value Luxury Car brand, and Mazda for Best Value Passenger Car brand. Mazda, Toyota, and Lexus all earned their respective brand awards for the fifth time, while Chevrolet's brand-level victory was its third, and Audi's brand-level victory was its second.
The 2022 awards also saw more hybrid vehicles taking home model-level wins than any previous year. In total, ten hybrid vehicles showed better value in their segments than their ICE competition. All of Lexus's model-level winners were hybrid vehicles, including the ES Hybrid, LS Hybrid, NX Hybrid, and RX Hybrid, while half of Toyota's model-level winners were also of the hybrid variety, including the Corolla Hybrid and the Highlander Hybrid. Other hybrid winners included: the Hyundai Sonata Hybrid, the Kia Niro, the Ford Escape Hybrid, and the Ford Maverick Hybrid.
Toyota's other champions were the Sienna, which won in the Minivan segment for the fifth time overall and the fourth consecutive year, and the Tundra, which conquered the Full-Size 1/2-Ton Pickup segment. Chevrolet's Best Value Truck brand victory was driven by repeat wins for both the Silverado 2500 and Silverado 3500. These wins were also bolstered by a third-time victory for the Corvette in the Luxury Sports Car segment. For Audi, the A3 impressed with its sixth overall win for Luxury Compact, while the A5 returned for its third-time win for Luxury Coupe. Finally, Mazda's star performer was the MX-5, which took home the award in the Sports Car segment for an outstanding seventh year in a row.
Other brands with multiple model-level winners were Ford and Kia, while brands with one award-winning model were BMW, Honda, Hyundai, Mercedes-Benz, Nissan, Polestar, Tesla, Volkswagen, and Volvo.
"Electric, hybrid, and plug-in vehicles are becoming more popular and more mainstream," said Vincentric President, David Wurster. "The 2022 Vincentric Best Value in Canada Awards saw an increase in hybrid vehicles winning their segments. This increase demonstrates that hybrids can be a smart choice for Canadian consumers looking to get the most value for their money, providing both a financial and environmental benefit."
Vincentric measures cost-of-ownership using eight different cost factors: depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. Using a statistical model, Vincentric identified the Best Value in Canada winners by measuring which vehicles had lower than expected ownership costs given their market segment and price. Approximately 2,000 vehicle configurations were evaluated in all ten provinces plus the Northwest Territories using a range of annual kilometer intervals and insurance profiles.
Vincentric provides data, knowledge, and insight to the automotive industry by identifying and applying the many aspects of automotive value. Vincentric data is used by organizations such as the Canadian Automobile Association, Automotive Fleet Magazine, Volkswagen, Mercedes-Benz, and many others as a means of providing automotive insight to their clientele. Vincentric, LLC is a privately held automotive data compilation and analysis firm headquartered in Bingham Farms, Michigan.
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