Which Luxury Sedan Retains Its Value the Best in 2023?
Luxury cars, in general, are never known for having the best resale value. Due to the smaller amount of luxury buyers in the automotive landscape, the residual value for nearly any luxury car is typically lower than its non-luxury counterpart. For example, Kelley Blue Book reports that the 2023 Honda Accord has an average resale value of 56.7% compared to the 2023 Acura TLX’s 48.5%. That made us wonder, which 2023 model-year luxury sedan retains its value the best?
The luxury sedan with the best resale value may surprise you
The editors at Kelley Blue Book recently announced the 2023 Best Resale Value Awards, which includes various brands, cars, trucks, and SUVs. According to the list, the 2023 Genesis G70 is the compact luxury sedan with the best resale value. The publication notes that the G70 will retain up to 48% of its original value after a five-year ownership period.
As for midsize luxury sedans, the 2023 Acura TLX took the top spot. It is slated to keep 48.5% of its original value after a five-year period. Lastly, for full-size luxury cars, the 2023 Lexus LS received the top honors for its projected resale value of 44%. These results aren’t too surprising, considering Acura and Lexus’s vehicles have historically been known for their top-tier residual values.
The 2023 Genesis G70 offers a lot more than a strong resale value
In addition to a strong resale value, the 2023 Genesis has much to offer. We drove the Genesis G70 and came away impressed with its composed driving dynamics, strong engine, and unique styling. Compared to other cars in its class, like the BMW 3 Series, Audi A4, and Mercedes-Benz C-Class, the Genesis G70 has a different way of doing luxury.
Its interior is filled with distinctive shapes and patterns that you normally wouldn’t find in a traditional luxury sedan. However, it has many similar materials and features that you would expect to find in a car of its class. There are heated leather seats, a heated steering wheel, and a bevy of tech-savvy features.
Some of the most notable features include a 10.25-inch touchscreen infotainment system, Apple Carplay/Android Auto smartphone integration, navigation, and four USB ports. As stated before, there’s also plenty of power under the hood.
The G70 can be powered by either a turbocharged 2.0-liter, four-cylinder engine or a twin-turbocharged V6. We were able to experience the latter choice and enjoyed the 365 hp and 376 lb-ft of torque that it had on tap. The meaty, force-fed engine had plenty of thrust to get onto the freeway and pass cars.
Is it a good idea to buy a used Genesis G70?
A one or two-year-old Genesis G70 could save you some money. Car Edge shows that purchasing a two-year-old G70 could result in an average savings of $5,188 compared to getting a new model. However, even if you go with a new model, you can rest assured that it will hold its value well over time.
