Vincentric Announces 2023 Best CPO Value in Canada™ Awards:
Toyota, Ford, & Audi Show Their CPO Strength
BINGHAM FARMS, MICHIGAN – SEPTEMBER 14, 2023 – The sixth annual Vincentric Best Certified Pre-Owned (CPO) Value in Canada™ Awards were announced today, with Toyota earning four model-level awards, more than any other brand. In addition, Toyota took home the brand-level award in the Passenger Car category for the second year in a row. Close behind were Ford and Audi with three winning models and a brand-level award for each. Ford earned the Best CPO Value SUV & Van brand award, while Audi impressed with its fourth-time victory as the Best CPO Value Luxury Car brand. Rounding out the brand winners were Volvo in the Luxury SUV category and GMC in the Truck category.
Toyota’s winning passenger car models included the Corolla, the Prius Prime, and the Avalon with its second consecutive win in the Large Sedan segment. The GR Supra also conquered the Luxury Sports Car segment.
Audi demonstrated the continued strength of its certified pre-owned offerings with the A5’s fourth win in the Luxury Coupe segment. The A7 Plug-In Hybrid followed in the footsteps of its gasoline-powered predecessor by taking the Luxury Large Sedan segment. Audi’s other winning model was the SQ8.
Ford’s frontrunners were the Expedition Max, which triumphed in the Large SUV segment for the second year in a row, and the Ranger, which claimed its second win in the Small/Mid-Size Pickup segment. The Bronco rounded out Ford’s winning lineup by conquering the Mid-Size SUV segment.
Both of Volvo’s champions were alternative fuel models, with the V60 Recharge winning the Luxury Wagon segment, and the XC40 Recharge taking the Luxury Compact SUV segment. This continues a winning tradition for both models, although previous CPO winners for the V60 and XC40 were powered by internal combustion engines. Finally, GMC had two Truck category winners in the Sierra 2500 and 3500, showing their strength in the Heavy-Duty market.
Other brands with multiple model-level awards were BMW and Hyundai. Brands with one winning model were Dodge, Jeep, Kia, Lincoln, Mazda, Mercedes-Benz, Nissan, and Ram.
“Just as we saw last year, over half of this year’s winning models were first-time champions in the Best CPO Value in Canada Awards,” said David Wurster, Vincentric President. “This emerging trend shows that Canadian automakers continue to offer a wide array of high-quality options that retain strong value for many years after initial purchase. CPO vehicles can be a smart choice for value-conscious shoppers, and the Vincentric awards can help narrow down the vehicles to consider.”
To determine the 2023 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 approximately 15,000 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.
Vincentric provides data, knowledge, and insight to the automotive industry by identifying and applying the many aspects of automotive value. Vincentric, LLC is a privately held automotive data research organization headquartered in Bingham Farms, Michigan.
Each month the organization measures cost of ownership, including depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs, for over 75,000 vehicle configurations for vehicles from 2008-2024 model years in the US and 2010-2024 model years in Canada. Vincentric data is published on major websites and used by a wide variety of organizations, including the Canadian Automobile Association, Automotive Fleet Magazine, Volkswagen, Mercedes-Benz, and many others. Vincentric data is available to its client base through a variety of APIs (Application Program Interfaces), including the New Vehicle API, Used Vehicle API, Fleet Vehicle API, and EV API.
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