Mississauga, Ontario – Back for it’s second year, the Canadian Automotive data and Analytics provider Canadian Black Book (CBB) announced Nissan Canada as the Most Improved automotive brand at the 2023 Best Residual Value Awards. Having won a Retained Value award in the ZEV Main category for the Nissan LEAF in 2022, this marks a first win for Nissan in the overall category for Residual Value.
This annual award showcases and measures how much of a vehicle’s original Manufacturer Suggested Retail Price (MSRP) it holds after four years of ownership. The 2023 awards cover 16 vehicle categories and five overall brand categories. The awards forecast residual values four years into the future.
The criteria of CBB’s Residual Value awards are based on manufacturers’ average residual values calculated as of January 1st, 2023, and compared to the following years’ average to determine which OEMs had the greatest increase based on vehicle segments and brand categories.
With this year’s awards revealing some interesting trends in relation to EV residual values, it showcased a promising beginning for EVs, predicted them to hold more value after four years than their Internal Combustion Engine (ICE) vehicles counterparts.
Trevor Longley, Vice President, Sales at Nissan Canada Inc., commented: “We are thrilled to bag a win at the Residual Value Awards 2023. Resale value is an important factor for consumers that influences their buying decisions. With the launch of our all-new Nissan ARIYA electric crossover SUV this year, it is also promising to see the predicted improvements that the EV category brings with it. Given Canadian Black Book’s position in the industry as a leader in wholesale and residual value data analytics, it certainly reassures and motivates us to continue to move the needle in the space of resale value.
About Nissan Canada Inc.
Nissan Canada Inc. (NCI) is the Canadian sales, marketing and distribution subsidiary of Nissan Motor Limited and Nissan North America, Inc. NCI was the first Japanese-based automaker to incorporate in Canada in 1965, and now directly employs 311 full-time staff across offices in Vancouver (BC), Mississauga (ON), and Kirkland (QC). There are 209 independent Nissan dealerships, and 38 INFINITI retailers across Canada.