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The 2024 Electrified GV70 by Genesis Motors Canada has clinched the Canadian Black Book’s Best Residual Value Award in the Electric SUV category for vehicles priced above $60,000. This prestigious accolade highlights the vehicle’s superior value retention over four years, showcasing its dominance in the segment over competitors like the Mercedes-Benz EQE and Volvo C40.
Eric Marshall, director of Genesis Motors Canada, expressed his gratitude, stating, “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.” He emphasized the vehicle’s combination of elegant design, dynamic performance, and seamless ownership experience as key to its success.
See also: Genesis Unveils US-Built Electrified GV70, Priced at $65,850
The Best Residual Value Awards, now in their third iteration, have broadened their scope to include an array of crossovers, mirroring the growing consumer shift towards SUVs. The awards now cover Compact, Sub-compact, Mid-size, and Full-size models across both mainstream and luxury segments, acknowledging the increasing presence and interest in electric vehicles (EVs).
Daniel Ross, CBB’s senior manager of industry insights and residual value strategy, noted the uptick in EV adoption and awareness. “There are more EVs on the roads; more people researching, buying, and leasing them; and more options from automakers,” he said, highlighting the role of consumer education in improving residual values.
The announcement was made at the 2024 Canadian International Auto Show in Toronto, where the awards underscored the importance of long-term quality and sustainability in vehicle ownership. This recognition solidifies Genesis’s standing in the EV market, emphasizing the brand’s dedication to innovation and quality.
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