Genesis Electrified GV70 Wins Best Residual Value by Canadian Black Book

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Genesis Electrified GV70 Wins Best Residual Value by Canadian Black Book

2024.02.23

• 2024 Electrified GV70 awarded in Electric SUV above $60,000 category

• Canadian Black Book is Canada's leading automotive data and analytics provider

• 2024 marks third edition of CBB’s Best Residual Value Awards

TORONTO, ON, Feb. 22, 2024 – Genesis Motors Canada proudly announces that the 2024 Electrified GV70 has been awarded Canadian Black Book’s 2024 Best Residual Value Award in the Electric SUV category, for vehicles above $60,000. This accolade underscores the Electrified GV70's exceptional value retention, as measured by the forecasted percentage of its original price after four years. Genesis took the top spot in the segment, followed by the Mercedes-Benz EQE and Volvo C40 in second and third place, respectively.

"We are incredibly honoured to have the 2024 Genesis Electrified GV70 recognized by Canadian Black Book. This award is a reflection of our commitment to excellence and our vision for the future of electrification," says Eric Marshall, director of Genesis Motors Canada. "The Electrified GV70 exemplifies our dedication to providing consumers with vehicles that offer elegant styling and dynamic performance, as well as a frictionless ownership experience."

Now in its third year, the Best Residual Value Awards have expanded to include crossovers in various categories. Reflecting the continued shift of consumer preferences towards SUVs, categories now recognize Compact, Sub-compact, Mid-size, and Full-size models in both mainstream and luxury segments.

“There are more EVs on the roads; more people researching, buying, and leasing them; and more options from automakers,” said Daniel Ross, CBB’s senior manager of industry insights and residual value strategy. “They are becoming common and, therefore, consumer education is increasing, which helps bring up residual values.”

Presented during the 2024 Canadian International Auto Show in Toronto, the Best Residual Value Awards forecast the residual value of 2024 model year vehicles into 2028, highlighting the significance of long-term quality and sustainability in vehicle ownership. This recognition marks a milestone for Genesis in the EV space, reinforcing the brand's commitment to innovation and quality.

For more information, interviews, and images, please contact:

Dustin A. Woods

Manager, Public Relations

Genesis Motors Canada

Mobile: 437-286-4407

Email: dwoods@genesis.ca