A new report is providing consumers and the car-buying public with information regarding which vehicles stand the test of time.
According to vehicle valuation company Canadian Black Book and its 2012 "Best Retained Value Awards," Japanese automobiles tend to have the best ability at retaining their value.
The source indicates that autos built by Toyota, Lexus, Subaru and Honda combined to capture 11 first-place 2012 Canadian Black Book Retained Value Awards, outdoing European and North American makes, which combined for seven first-place finishes.
Kathy Ward, CEO of Canadian Black Book, said this year's report will give consumers a greater ability to determine which vehicles will give them the most bang for their buck.
"While most other industry accolades tend to generate headlines by focusing on the here-and-now of new vehicle models, our annual retained value awards provide consumers with excellent insight as to where they will most likely receive the best value for their money, over time," said Ward. "When deciding on a new car or truck, consumers often search for a model offering the best loan rate or the richest incentives that lower the sticker price."
While auto insurance costs can vary, she added that vehicle depreciation is the most significant cost of car ownership over the lifetime of an automobile. This can result in a "costly" surprise when trade-in time comes.
To arrive at the findings, CBB reviewed thousands of vehicles from 17 different categories, analyzing which ones maintained their original manufactured suggested retail price over a four-year period. Toyota and Lexus were the run-away leaders, with Toyota getting five first-place votes to Lexus' two.
Among North American models, Dodge won for best retained value in the Sports Car category with the new Dodge Challenger. Jeep Wrangler won for best Compact SUV.
Overall, North American-built models received 10 second- and third-places votes, going to brands such as Ford, Lincoln, General Motors and Chrysler, CBO indicated.
Automotive analyst Dennis DesRosiers noted that while North American brands may be outdoing foreign models from a sales perspective, they're in different leagues when it comes to value retention.
"It's interesting that while new vehicle sales figures may show Toyota lagging behind North American models, the retained value awards tell another story," said DesRosiers. "The Toyota Tundra and Tacoma models, for example, have won Best Retained Value in the Full-size Pick-up and Small Pick-up categories for three consecutive years although we typically think of North America as the top builder of trucks."
Domestic and foreign models are among the offerings on display at the 39th Annual Canadian International Auto Show, which is being held at the Metro Toronto Convention Centre through February 27th. Mark Nantais, president of the Canadian Vehicle Manufacturers' Association, said he's hopeful 2012 will be another profitable year for the automotive industry, as the Canadian auto manufacturing industry represents nearly one quarter of Ontario's gross domestic product and 11 per cent of Canada's national GDP.