The quality of Honda products is recognized throughout the industry. It is also recognized and appreciated by the public, which has chosen its products without hesitation for over 30 years.
This loyalty and solid reputation that the brand has built have had an impact on the resale value of its vehicles, which is excellent. This too is a known fact. However, when this is recognized by an organization whose mission is to evaluate the value of four-year-old models on the market, it only adds to the credibility of the statement.
The organization is the Canadian Black Book (CBB). The CBB analyzes the retained value of four-year-old vehicles on the market (2017 in our case) and has been compiling a list of the best vehicles and brands in this regard on an annual basis for the past 14 years.
This is where Honda proves its worth, as its creations never have trouble sneaking in among the best. The results of CBB's Best Retained Value awards prove it once again this year.
Not surprisingly, then, there are five models at the top of their respective categories. We're talking about the Fit (sub-compact), the HR-V (sub-compact SUV), the CR-V (compact SUV), the Accord (mid-size sedan) and the Odyssey (minivan). The CR-V is new to this list, but for the Odyssey, that's 8 times in the last 10 years.
Then, Honda received another honor, the one for the brand with the most value-retaining cars. Toyota and Porsche won in the SUV/Truck and Luxury Vehicle categories, respectively.
All this in a completely crazy market. Due to the pandemic and the current microchip crisis, which is causing many buyers to migrate to the used market, the resale value of all vehicles is climbing. In 2019, 4-year-old models were still worth 52% of their base MSRP. This year, it's 61.5 percent.
Crazy times, but they benefit all Honda owners.