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Ford F-150 Lightning Wins 2024 Canada Residual Value Award

The Ford F-150 Lightning has certainly won its fair share of awards since the EV pickup debuted for the 2022 model year, but aside from simply being a solid all-around vehicle, it’s also been lauded for holding its value rather well. In fact, the Ford F-150 Lightning previously won a 2023 Best Resale Value Award from Kelley Blue Book and the top spot in the Mass Market Electric Vehicle segment of J.D. Power’s 2024 U.S. ALG Residual Value Awards, too. Now, the Ford F-150 Lightning has yet another accolade to add to its list – a 2024 Canada Residual Value Award, also from J.D. Power.

2024 Ford F-150 Lightning Flash - Exterior 002 - Side

In this latest version of that particular study, the Ford F-150 Lightning mimicked its achievement in the U.S. by also ranking atop the Mass Market Electric Vehicle segment. This means that among those types of vehicles, the F-150 Lightning is projected to hold the highest percentage of its manufacturer’s suggested retail price (MSRP) after a four-year period of ownership.

In the 2024 installment of J.D. Power’s Canada Residual Value Awards, a total of 15 different brands earned awards across 28 segments, and the organization evaluated 298 model lines based on an analysis of used-vehicle performance, brand outlook, and product competitiveness. To be eligible for one of these awards, a vehicle manufacturer must have entries in at least four different segments, while J.D. Power accounts for differences across trim levels by weighting model averages based on percentage share compared to the entire model line. As the company notes, consistency can often benefit automakers in terms of residual value, too.

Ford F-150 Lightning Lariat Switzerland - Exterior 002 - Front Three Quarters

“Although Toyota and GM have a broad lineup and are high-volume producers, the consistency throughout their models has garnered higher residual values,” said Danny Battaglia, managing director of ALG customer success at J.D. Power. “Not only do these manufacturers have broad appeal vehicles high in the rankings, but they also have specialized vehicles, such as off-road, at the top as well. Continued consistency with quality, durability, and pricing produces high demand which retains residual values.”

We’ll have more on the Ford F-150 Lightning soon, so subscribe to Ford Authority for the latest Ford F-150 Lightning news and non-stop Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

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