Vincentric Announces 2024 Best CPO Value in Canada™ Awards:
Ford and Volvo Are Front-Runners
BLOOMFIELD HILLS, MICHIGAN – SEPTEMBER 17, 2024 – The seventh annual Vincentric Best Certified Pre-Owned (CPO) Value in Canada™ Awards were announced today, with Ford leading the way with seven total awards, including two brand awards and five model-level awards. Ford had more awards than any other brand and impressed with the Best CPO Value SUV & Van brand award for the second year in a row, and the Best CPO Value Truck brand award for the fifth time overall. Close behind was Volvo, earning a total of five awards, including Best CPO Value Luxury Car brand and four model-level awards. The remaining brand-level awards were taken by Mazda for Best CPO Value Passenger Car brand and Jaguar for Best CPO Value Luxury SUV brand.
Ford’s winning models were spread across multiple vehicle categories. Best-in-class performances by the Edge and Expedition Max carried Ford to the brand-level win for the SUV & Van category. The Expedition Max won the Large SUV segment for the third consecutive year, while the Edge claimed victory in the Mid-Size SUV segment. In the truck category, the F-150 Lightning earned the F-150’s fifth overall win for Full-Size 1/2-Ton Pickup, and the Maverick Hybrid conquered the Small/Mid-Size Pickup segment. Rounding out Ford’s winners was the Fusion Hybrid in the Mid-Size segment.
Volvo demonstrated the CPO strength of their Luxury Car lineup with wins for the S60 Plug-In Hybrid, S90 Plug-In Hybrid, and V90. The S90 Plug-In Hybrid earned the S90’s second overall win for Luxury Large Sedan. Additionally, the XC90 came out on top of the Luxury Mid-Size SUV segment.
The Mazda MX-5 earned its third consecutive win in the Sports Car segment, helping the brand achieve its Best CPO Value Passenger Car brand award. The Mazda CX-5 also impressed with its fourth-time win in the Compact SUV segment. Jaguar was led to its brand victory by its E-Pace model, which earned top honors in the Luxury Compact SUV segment.
Other brands with multiple model-level awards were Audi, Hyundai, Kia, and Ram. Brands with one winning model were BMW, Chrysler, Mercedes-Benz, and Subaru.
Additional noteworthy winners were the Kia Rio with its third win for Subcompact; the Hyundai Ioniq Hybrid and Kona EV, each with their second wins in a row; the BMW 3-Series Plug-In Hybrid with its second consecutive win for Luxury Compact; and the Mercedes-Benz E Class with its second-time win for Luxury Coupe.
“For the third year in a row, we’ve seen a trend of a majority of Best CPO Value in Canada award winners being first-time winners in their segments,” said David Wurster, Vincentric President. “This year saw fourteen first-time winners out of a total of twenty-five vehicle segments. This trend goes to show that Canadian shoppers who are in the market for a CPO vehicle have a wide variety of great-value models to choose from. For shoppers who may be overwhelmed by the decision, the Vincentric Best CPO Value in Canada awards can provide guidance and empower them to shop with confidence.”
To determine the 2024 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 15,000 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.
ABOUT VINCENTRIC
Vincentric provides data, knowledge, and insight to the automotive industry by identifying and applying the many aspects of automotive value. Vincentric, LLC is a privately held automotive data research organization headquartered in Bloomfield Hills, Michigan.
Each month the organization measures cost of ownership, including depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs, for over 75,000 vehicle configurations for vehicles from 2008-2025 model years in the US and 2010-2025 model years in Canada. Vincentric data is published on major websites and used by a wide variety of organizations, including Automotive Fleet Magazine, CAA, Volkswagen Canada, and many others. Vincentric data is available to users through a variety of APIs (Application Program Interfaces) and SaaS (Software as a Service) tools, including the New Vehicle API, Used Vehicle API, Fleet Vehicle API, EV API, Cost of Leasing API, and Dynamic Cost to Own™.
Contact:
Audrey Downs
Marketing Coordinator
248-430-4121 ext. 114
Audrey.Downs@vincentric.com
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