Vincentric Announces 2024 Best Value in Canada™ Awards:

Tesla and Toyota Earn Top Honors

BLOOMFIELD HILLS, MICHIGAN – JUNE 11TH, 2024 – The 13th annual Vincentric Best Value in Canada™ Awards were announced today with Tesla earning more awards than any other brand. The EV manufacturer took home two brand awards for Best Value Luxury Car brand and Best Value Luxury SUV brand, along with three segment awards. Close behind was Toyota with three model-level winners and its seventh victory for Best Value SUV & Van brand. Ram finished with two award-winning models and its fourth Best Value Truck brand award, and Mini earned its first win for Best Value Passenger Car brand. The 2024 awards also saw an influx of non-gasoline-powered winners, with over 70% (17 of 24) of winning models being BEVs, plug-in hybrids, or hybrids.

Tesla’s champions were the Model 3 in the Luxury Compact segment, the Model S in the Luxury Large Sedan segment, and the Model Y in the Luxury Compact SUV segment. All three of Tesla’s winners conquered their segments for the second consecutive year. Two of Toyota’s winners, the Sequoia and the Sienna, continued their long-standing winning streaks with awards for the tenth time and the sixth year in a row, respectively. The Toyota Prius Prime also won the Mid-Size segment for the second consecutive year.

Mini was led by the Cooper EV, which had a best-in-class performance in the Compact Hatchback segment. In the truck category the Ram 2500 and 3500 pickups returned for their fifth and fourth-time wins, respectively.

Audi, Chevrolet, Ford, Hyundai, and Kia each had strong performances with two award-winning models. Audi’s frontrunner was the A5, which claimed its fifth win for Luxury Coupe as well as a first-time win for Luxury Convertible. The Chevrolet Corvette won Luxury Sports Car for the fourth time. The Ford F-150 Lightning continued the streak of its gasoline counterpart and conquered the Full-Size 1/2-Ton Pickup segment for the second year in a row, totaling an outstanding eleven wins in this segment for the F-150. The Hyundai Elantra Hybrid and the Kia Niro EV also followed in the footsteps of their gasoline counterparts, with the Elantra Hybrid earning the model’s third win in the Compact segment, and the Niro EV winning the model’s second win in the Subcompact SUV segment.

Other brands with an award-winning vehicle were Mazda, Mercedes-Benz, Nissan, Polestar, and Volvo. Some of these winners were quite noteworthy, such as the Mazda MX-5, which impressed with its ninth consecutive win for the Sports Car segment, while the Volvo V60 Plug-In Hybrid won best value Luxury Wagon for the fourth time overall for the V60.

"Over 70% of winners for the 2024 Vincentric Best Value in Canada Awards were BEVs, plug-ins, or hybrids,” said David Wurster, Vincentric President. “Our data shows that EVs typically have lower fuel and maintenance costs than gas-powered models, which, based on the strong performance of EVs in this year’s awards, can translate into great value for Canadian consumers. There was also a vast array of brands that came out with winning models. With no single brand winning more than three segments, the Canadian market has a wide variety of best-in-class options."

Vincentric measures cost of ownership using eight different cost factors: depreciation, fees & taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. Using a statistical model, Vincentric identified the Best Value in Canada winners by measuring which vehicles had lower than expected ownership costs given their market segment and price. Approximately 2,000 vehicle configurations were evaluated in all ten provinces plus the Northwest Territories using a range of annual kilometer intervals and insurance profiles.

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 Autoblog, Automotive Fleet Magazine, AAA, 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™.