UK and CanadaCA
Canada's retained value average fell to 57%, but 2023 Toyotas list for half the market's time
Canada used market, week of Oct 26, 2026
Canadian Black Book's 2026 Best Retained Value Awards put the industry average retained value at 57%, down from 67.5% in 2025, a drop of 10.5 points in one awards cycle. The awards measure how much of its original MSRP a 2023 model-year vehicle keeps after four years. On the retail side of the same Canadian market, MarketCheck data from Oct 26, 2026 shows how four-year-old stock is actually priced and how long it has been sitting: 31,532 used 2023 model-year listings on Canadian dealer websites, a median asking price of C$34,932, and a median listing age of 92 days. The brand spreads inside that average are wide enough that a single industry number says very little about any one franchise's lot.
What the data shows
| 2023 model year, used | Active listings (Oct 26, 2026) | Median asking price (CAD) | vs 2023 market median (%) | Median days on market | Median odometer (as reported, miles field) |
|---|---|---|---|---|---|
| All makes | 31,532 | 34,932 | 0.0 | 92 | 39,602 |
| Toyota | 2,183 | 38,319 | +9.7 | 48 | 41,503 |
| Kia | 2,016 | 25,995 | -25.6 | 63 | 40,090 |
| Porsche | 360 | 84,379 | +141.6 | 99 | 26,405 |
Toyota and Kia 2023 stock has been listed for well under the market's median time, at a median 48 days and 63 days against 92 for all makes, while Porsche stock has been listed longer than the market at a median 99 days despite the lowest median odometer reading in the set. The price gaps against the market median mostly reflect each brand's model mix, not retention.
The same read one model year back shows how the Toyota premium behaves:
| Used, Canada | Median asking price, 2022 MY (CAD) | Median asking price, 2023 MY (CAD) | 2022 MY vs 2023 MY (%) | Median days on market, 2022 MY | Median days on market, 2023 MY |
|---|---|---|---|---|---|
| All makes | 31,686 | 34,932 | -9.3 | 96 | 92 |
| Toyota | 31,995 | 38,319 | -16.5 | 51 | 48 |
One model year older, Toyota's median asking price sits 16.5% lower, against 9.3% for the market, so the brand's premium over the market median narrows from 9.7% on 2023 models to 1.0% on 2022 models while its stock keeps turning faster than the market at a median 51 days.
Why it matters
The industry average is a single line through a very wide distribution. At one end of the four-year-old segment, 2023 Kias list at a median C$25,995, 25.6% below the 2023 market median. At the other, 2023 Porsches list at a median C$84,379. Pricing a trade-in or a retail unit off the industry average alone ignores that spread.
Time on the lot carries cost in a market where values are reported to be falling. MarketCheck data shows 2023 model-year used vehicles in Canada have been listed a median 92 days as of Oct 26, 2026. These are asking prices on live listings, so the figure is the age of current inventory, not days to sell.
High price level and fast turn are not the same thing. The 360 Porsche listings in the set carry the highest median asking price and the longest median listing age, 99 days, with a median odometer of 26,405 as reported in the miles field.
For shoppers, the value end of the four-year-old segment is visible in the same data: Kia 2023 stock is both the cheapest in the set by median asking price and listed for less time than the market.
MarketCheck asking-price data does not carry original MSRP, so it cannot reproduce a retained-value percentage. The 57% and 67.5% figures are Canadian Black Book's; the medians above are retail asking prices on Canadian dealer websites.
What to watch
- The median listing age of 2023 model-year stock against the current 92 days. A rise would mean aged inventory is building in the four-year-old segment.
- Whether Toyota's premium over the market median keeps compressing from 9.7% on 2023 models toward the 1.0% seen on 2022 models.
- Aged premium stock. With 2023 Porsche listings at a median 99 days, the largest dollar exposure to a weaker average sits in high-ticket units.
- The comparison with the US. Black Book's US Used Vehicle Retention Index stood at 146.4 in Feb 2025, 2.7% below Feb 2024, so fresh US readings are worth checking before assuming the Canadian drop is shared.
How this was measured
These are single-day medians of dealer-website asking prices in CAD for used vehicles in Canada on Oct 26, 2026. The same car can appear on more than one site. Days on market is the age of active listings, not days to sell. The data shows retail asking prices, not wholesale values or MSRP-based retained value, which are Canadian Black Book's figures.
The read used MarketCheck data from the Inventory Search API, GET /v2/search/car/active (Inventory Search API docs), with year=2023, car_type=used, country=CA and price, miles and dom stats, then the same call with make=Toyota, make=Kia and make=Porsche, and again for year=2022 with and without make=Toyota. API keys: MarketCheck developer portal.
The story we checked
"Canadian Black Book Announces 2026 Best Retained Value Awards Amid Industry Average Drop", Guide Auto Web, Oct 19, 2026. Fact-check tally: 3 verified, 2 unverifiable. Verified: the average fell to 57% in 2026 from 67.5% in 2025; the 2026 awards measure 2023 model-year vehicles after four years; Canadian Black Book's Daniel Ross said the winners show the limited successes OEMs achieved in a difficult consumer environment. Unverifiable: that Toyota, Porsche and Kia are among the named brands in the awards, and that the drop signals faster depreciation across Canadian retail.
You can run the same read in MarketCheck AI Desk: https://ai.marketcheck.com/install.
Reproduce this
- search_active_cars: Pull live Canadian dealer listings for used 2023 model-year vehicles, then filter by make to compare median asking price and listing age.
- predict_price_with_comparables: Get a predicted listing price for one four-year-old unit, with the comparables behind it.
- generate_full_market_capture: Read every listing in one postcode market to see how local four-year-old stock is priced.
The story we checkedCanadian Black Book Announces 2026 Best Retained Value Awards Amid Industry Average Drop, Guide Auto Web, Oct 19, 2026
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