BINGHAM FARMS, MICHIGAN – OCTOBER 4, 2022 – The fifth annual Vincentric Best Certified Pre-Owned (CPO) Value in Canada™ Awards were announced today, with Toyota and Hyundai taking the top spots on the podium. Each brand earned four model-level awards and one brand award. Toyota demonstrated its strength in the Passenger Car category, while Hyundai’s brand award was for the SUV & Van category. Audi was close behind with three model-level winners and the brand award for the Luxury Car category. Rounding out the brand winners for this year were Lincoln with the Luxury SUV brand award, and Jeep with the Truck brand award.
Toyota’s success was led by the Corolla with its second win for Compact Hatchback. The Prius C, Corolla Hybrid, and Avalon all earned Best CPO Value in Canada awards for the first time and paved Toyota’s way to the Passenger Car brand award. Hyundai’s frontrunner was the Kona EV with its second consecutive win in the EV/PHEV SUV segment, bolstered by first-time wins for the Venue, Palisade, and Ioniq Electric.
The Audi A7 claimed its second win for Luxury Large Sedan, achieving victory alongside the RS 5 for Best Value Luxury Mid-Size Sedan and the e-tron for Best Value Luxury Electric/Plug-In Hybrid SUV. The Lincoln Nautilus and the Jeep Gladiator were the star-performers that led to their respective brand-level awards.
Other brands with multiple model-level awards were Mercedes-Benz, Ford, and Nissan. Brands with one model-level award were BMW, Chevrolet, Dodge, Kia, Lexus, Mazda, and Volvo.
Additional noteworthy winners included the Ford F-350 S/D with its fourth-time victory for Full-Size 1-Ton Pickup, the Volvo V60 with its third win for Luxury Wagon, and the Dodge Grand Caravan with its second win for Minivan.
“Over half of the vehicles that earned the 2022 Vincentric Best CPO Value in Canada Awards were first-time winners in their segments this year,” said David Wurster, Vincentric President. “Having so many newcomers among this year’s winners shows that consumers who are in the market for a CPO vehicle have many new options for vehicles that will deliver best-in-class value. Our awards can help narrow down those options and provide a starting point for shoppers.”
To determine the 2022 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 14,000 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.