The Tesla Model X has won its first-ever Canadian Black Book (CBB) Best Retained Value Award, finishing first among premium electric SUVs in the 2026 results. It is the first category win for Tesla in the awards, and good news for anyone keeping an eye on Model X resale value in Canada.
How the Black Book awards work
Canadian Black Book, the used-vehicle valuation company based in Markham, Ontario, announced its 21st annual Best Retained Value Awards on October 19, 2026. The awards measure how much of its original manufacturer’s suggested retail price (MSRP) a vehicle keeps after four years. This year’s results are based on 2023 model-year vehicles.
In the BEV SUV: Premium category, the Model X took first place, ahead of the BMW iX in second and the Audi Q4 e-tron in third.
Other Tesla results
Tesla showed up in two more spots on the list:
- The Model 3 placed third in BEV Car: Premium, behind the Porsche Taycan and BMW i4.
- Tesla finished third in Overall Brand: Electric, behind winner Kia and runner-up Chevrolet.
A tough year for used values
The bigger picture is not as rosy. CBB says 2023 model-year vehicles kept an average of 57.0% of their original MSRP after four years, down sharply from 67.5% in last year’s awards. Battery-electric models still trail gas and hybrid vehicles on four-year retention, although CBB says brands with deeper electrified lineups are closing the gap.
“With significant declines in overall retained values over the past year, this year’s winners highlight the limited successes Canadian OEMs have achieved while navigating what may be the most difficult consumer environment in decades,” said Daniel Ross, Director of Strategic Market Insights at Canadian Black Book.
What the win means for Model X resale value
Tesla built its last Model S and Model X at its Fremont, California, factory in May 2026, so no new Model X is coming off the line. Drive Tesla Canada suggests that limited availability may have helped support used values.
For Ontario owners, an award is not a price guarantee. What your own Model X fetches still depends on mileage, condition, battery health, options and whether software packages like FSD transfer with the car. Trade-in offers can vary a lot, so it pays to compare a few before you sell.
Planning to keep yours? Our Model X owner’s guide for Ontario and Canada covers winter care and charging, and our look at whether a Tesla extended warranty in Canada is worth it may help as the car ages. For the wider market, see our report on Canada’s EV sales in August 2026.
Driving a Model X, or shopping for a used one? Compare notes with 17,000+ Ontario owners in Canada’s most active Tesla Facebook community: https://www.facebook.com/groups/teslamodelyand3/
Sources
- Canadian Black Book: 2026 Best Retained Value Awards announcement
- Canadian Black Book: 2026 Best Retained Value Awards (PDF)
- Drive Tesla Canada: Tesla Model X wins first-ever Canadian Black Book resale value award
- Driving.ca: Toyota, Porsche, Kia take top brand awards for retained vehicle value
- Car and Driver: Tesla Model S and Model X production ends