Price Digests is excited to announce the winners of our fourth annual Highest Retained Value Awards (HRVAs). Each year, we use Truck Blue Book values and calculations to recognize the commercial trucks expected to retain the highest percentage of their original value over the next five years. This year, we’re presenting the awards to 2022 model year trucks in nine different categories (classes 3-8), ranging from light-duty to heavy-duty.

The HRVAs are part of our commitment to providing independent, accurate, reliable information. “We’re committed to empowering truck dealers, buyers, insurers, lenders, and others  with reliable data that helps them make informed decisions. Understanding retained value is just one way we enable them to use data as a competitive advantage,” says Dan Smith, Price Digests Sales Director.

How We Calculate Retained Value

Retained value is the anticipated value of a vehicle over a period of time. For the HRVAs, we use a five-year time horizon. Using our proprietary algorithms, we analyze market data and depreciation standards to determine retained value.

We calculate retained value as the average percentage of initial value retained after five years for newly purchased commercial trucks. We use percentages because it’s impossible to extract exact dollar values for the various factors that impact truck pricing (such as configurations, region, mileage, etc.) and get an apples-to-apples comparison between truck brands. And it may appear that a model has a higher dollar value at the end of the five-year period, but that model may have started with a higher value in the first place. Using percentages eliminates confusion.

2022 HRVA Winner Profiles

This year, Chevrolet has the most HRVA winners, scoring the top spot in three different categories. Volvo, International, Freightliner, Isuzu, and Mercedes are also winners. Retained values are notably higher compared to previous years. People usually pay less than MSRP for new trucks, but that’s not the case now.

The retained value curves are different than anything we’ve seen before because of the residual effects of Covid-19, and the supply chain issues OEMs have been battling, The residual value starting point is closer to MSRP than usual, with  some 2021 and 2022 models even selling above MSRP.  So there’s no drop in value in the first year like you would normally see. We expect values will follow a depreciation curve with higher retained value at the beginning of its life, therefore  the five-year retained value shown in the awards calculations is higher than previous years.

Let’s look at a few winners that highlight the differences in retained value calculations.