Honda cars are the best at retaining their value in Canada in 2023, according to Canadian Black Book.

CBB released the results of its 2023 Best Retained Value Awards. The awards measure how much value vehicles and vehicle brands retain of their initial manufacturer’s suggested retail price. The 2023 awards look at the retained value of 2020 vehicles.

Here are the brand category winners

Best Brand Award: Car

1. Honda
2. Chevrolet
3. Toyota

Best Brand Award: SUV/Truck

1. Toyota
2. Ford
3. Subaru

Best Brand Award: Luxury

1. Porsche
2. Mercedes-Benz
3. Lexus

Best Brand Award: BEV (battery-electric vehicles)

1. Porsche
2. Volkswagen
3. Mini

Most Improved

1. Cadillac
2. Fiat
3. Hyundai

Here are the vehicle category winners

Car: Main

1. Toyota Yaris
2. Chevrolet Spark
3. Hyundai Accent

Car: Luxury

1. Cadillac CT5
2. Cadillac CT4
3. Mercedes-Benz CLA-Class

Car: Prestige

1. Porsche Panamera
2. Mercedes-Benz CLS-Class
3. Lexus LS-Series

Sports Car: Main

1. Dodge Challenger
2. Subaru BRZ
3. Ford Mustang

Sports Car: Luxury

1. Chevrolet Corvette
2. Porsche 911
3. Porsche 718 Boxter

Small Pickup

1. Toyota Tacoma
2. Ford Ranger
3. GMC Canyon

Full-Size Pickup

1. Toyota Tundra
2. Ford Super Duty
3. Chevrolet Silverado 1500

SUV: Main Sub-Compact

1. Subaru Crosstrek
2. Toyota C-HR
3. Nissan Kicks

SUV: Main Compact

1. Toyota RAV4
2. Honda CR-V
3. Mazda CX-3/Hyundai Tucson

SUV: Main Mid/Full

1. Toyota Highlander
2. Hyundai Palisade
3. Kia Telluride

SUV: Luxury Sub-Compact/Compact

1. Porsche Macan
2. Mercedes-Benz GLC-Class
3. Lexus UX-Series

SUV: Luxury Mid/Full

1. Mercedes-Benz G-Class
2. Porsche Cayenne
3. Land Rover Defender 110

BEV: Main

1. Volkswagen e-Golf
2. Mini Hatchback Electric
3. Hyundai Ioniq

BEV: Luxury

1. Porsche Taycan
2. BMW i3
3. Tesla Model Y

Commercial Van

1. Mercedes-Benz Metris
2. Ford Transit Connect
3. Ford Transit

CBB says this is the Toyota Tacoma’s 15th year in a row winning the Small Pickup category, the longest streak in its award history.

Toyota also has the most category wins with six, while Porsche is runner-up with five.

Read more about the awards on the Canadian Black Book website.