Ford Bronco Continues Year’s Dominance in KBB Best Resale Value Awards

Okay, this quarter hasn’t been all that good for some Ford models – models that the automaker had banked on to help it gain more traction in the electric vehicle (EV) world.

Ford Sweeps Up Another KBB Award

Sure, this is a bold statement on the face of it, but look just behind it, and you will see that it isn’t as bold as it seems. Take the Ford F-150 Lightning, Ford’s EV pickup that it had banked on to become a huge seller by now. Indeed, as recently as nine months ago, the automaker predicted it would ramp production toward 660,000 Lightnings a year. In reality, Ford has reduced production at its Rouge EV plant (and on other lines) to about 130,000 yearly.

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Ford is doing reasonably well with its Mustang Mach-E, the EV crossover. However, if you look closely at it, again, you see that Ford is offering a huge discount – as much as $19,000 – plus other goodies to make each deal more palatable.

After seeing this, you can understand why Ford is looking at several smaller platforms as it watches over its corporate shoulder for the expected competition from China, whose BYD offers a reasonable product for $11,700 with an introductory price of just over $10,000. From what we heard about BYD, the Chinese automaker’s build is solid.

KBB Awards Listed

So, does Ford have anything to shout about now? Of course, it does. The shouting comes on the release of the 2024 Kelley Blue Book Best Resale Value Awards, which Ford has been raking in. Here are the models that have been announced so far (landing in the top 10 overall):

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• Ford Bronco – top 10
• Ford Maverick – top 10
• Ford F-150 Lightning – first in electric trucks
• Ford Maverick – highest-ranking model in the compact pickup segment

That is quite an impressive list of awards, but there is one more that we alluded to. It is a top-notch job for the Dearborn, Mich. automaker. Notice the Bronco landing in the top 10 overall. Well, that is quite an achievement for Ford. Specifically, the Bronco was named the best choice in the off-road category, the Ford Authority (FA) noted in announcing the win for Ford.

KBB Explains How Awards Figured

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Here's how FA put it:

“The Ford Bronco not only finished first overall among all new vehicles with an estimated five-year resale value of 66.7 percent, but it also topped the red-hot off-road SUV segment in that regard. It isn’t a huge surprise given the model’s status as having the best five-year projected resale value of any vehicle currently on the market, but it’s notable, regardless.”

KBB’s Vest Resale Value Awards are “based on projections from the organization's Official Residual Value Guide.” The guide’s values are established by automotive analysts who review the output from statistical models built upon millions of transactions. Vehicles with the highest five-year residual values, expressed as a percent of their original Manufacturer’s Suggested Retail Price (MSRP), are selected for these awards.

KBB Discusses Depreciation

As KBB points out:

“Depreciation is typically the largest expense facing new vehicle owners in the first five years. The average 2024 model-year vehicle will only retain about 42.4 percent of its original value following that period, meaning a $50,000 new vehicle today will be worth around $21,200 after five years. By comparison, all vehicles in Kelley Blue Book’s Top 10 Best Resale Value list for 2024 are projected to retain around 58 percent or more of their MSRP after the initial five-year ownership period.”

Ford Motor Photo

Marc Stern has been an automotive writer since 1971. His automotive articles have appeared in venues including Popular Mechanics, Mechanix Illustrated, AutoWeek, SuperStock, Trailer Life, Old Cars Weekly, Special Interest Autos, and others. You can follow Marc on Twitter or Facebook.