The 2022 Highest Retained Value Awards
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.
Award Category: Heavy Duty Conventional Day Cab Tractor
Winning Model: Volvo VHD64FT
The 2022 Volvo VHD64FT led the Heavy Duty Conventional Day Cab Tractor category this year, with a five-year retained value of 65.21%. This is 30 points higher than last year’s winner, the Freightliner Cascadia, which had a retained value of 35.86%.
Heavy Duty Conventional Day Cab Tractor
Award Category: Medium Duty Cabover Cab and Chassis
Winning Model: Chevrolet 4500
With a retained value of 65.93%, the 2022 Chevrolet 4500 took the top spot in the Medium Duty Cabover Cab and Chassis category. Its retained value is significantly higher than last year’s winning model, the Isuzu NPR-HD, which won with a retained value of 52.17%.
Medium Duty Cabover Cab & Chassis
Award Category: Light Duty Cab and Chassis
Winning Model: Chevrolet 2500HD
The 2022 Chevrolet 2500HD is expected to retain 58.48% of its value, putting it at the top of the Light Duty Cab and Chassis category. Unlike the other categories, vehicles in the Light Duty Category aren’t outpacing previous year’s winners. The 2021 HRVA winner in the Light Duty Cab and Chassis category, the Ford F250, had a retained value of 59.28%.
Light Duty Cab and Chassis
About Price Digests
Since 1911 Price Digests has served the vehicle data needs of the insurance, finance, government, and dealer markets through its portfolio of VIN decoding, specifications, and market value data solutions for the commercial truck, passenger vehicle, marine, powersport, and recreational vehicle asset classes. Our data + intelligence solutions pave roads to faster and better decisions with perfect-fit data delivery, whether it’s seamlessly integrated APIs, online subscriptions or custom data delivery.