Toyota’s Tundra and Tacoma pickup trucks have made a mockery of the marketing campaigns of its rivals. Both Tundra and Tacoma have been awarded the top truck spot on Kelly Blue Book’s (KBB) best resale value list. KBB has long been the industry standard for resale valuations. In addition to winning the all of the truck categories in which it competes, Toyota’s Sequoia also took home the award for the best full size SUV/Crossover. That means between them, the Ford F-150, Chevy Silverado, and Chrysler’s Ram trucks won zip, nada, zero of the most important truck awards. Despite years of advertisements expounding their ruggedness and desirability, the actual used-truck buyers have voted with their wallets and Ford, Chevy and Ram are all behind Toyota's trucks.
This is the third straight overall KBB Best Resale Brand win for Toyota. The resale value of a vehicle refers to the difference between a car’s price new, less its depreciation of 5 years. Those with the highest rating are considered the best financial options in a given category. The ratings come straight from the Kelley Blue Book® Official Residual Value Guide. The Kelley Blue Book’s Best Resale Value Awards have been awarded now for 12 years. Like the J.D. Power Initial Quality awards, Toyota is usually dominant.
Toyota’s trucks strong showing here in comparison to Ford, Chevy, GMC, and Ram are reflective of the value that shoppers looking for a used truck place on the Toyota offerings. Toyota’s truck sales have been creeping up on the brands once called domestic. That designation is hard to apply now that all Toyota trucks are manufactured in Texas, while GM still uses factories outside of the United States to make pickup trucks, and since Ram is owned by Italian car maker Fiat. Toyota’s truck sales have passed GMC, and when heavy duty trucks are not counted Toyota is in a close race with Chevy and Ram for the number two spot after Ford. However, Chevy is bringing back the Colorado, and that could be a total game-changer.
Commenting on the Toyota truck showing Bill Fay, Group Vice President and General Manager of Toyota division said “We are proud that the Toyota brand and six Toyota models were recognized by Kelley Blue Book for their excellent resale value. This key buying criteria is just one of the many reasons consumers return to the Toyota brand.” The other models that won their categories were the Toyota FJ cruiser, which won the mid-size SUV/crossover category. Ironically, the FJ is now being discontinued by Toyota. The Avalon and Sienna also won their groups.
The loyal fans of the Ford and Chevy trucks usually dispute these Toyota truck wins as inconsequential. What do you think? Do buyers think Toyota trucks are a better used truck buy?