Used Car Prices: Tesla Leads in Value Depreciation
Despite the overall increase in used car prices in the US, some models are rapidly losing value. According to a study analyzing the market from May 2024 to May 2025, Tesla became the leader in price drops. The average price of a used car in the country reached $32,317, which is $630 more than last year. However, for Tesla, the situation is completely different.
The flagship sedan Model S lost the most – its average price fell by 16% ($8,837) to $46,503. The popular Model Y crossover became cheaper by 14.2%, and the Model 3 by 10.8%. Among other electric vehicles, the Porsche Taycan showed significant devaluation (-12.7%).
“Being an electric car and bearing the Tesla brand is a double minus for a used car,” noted Karl Brauer, an analyst at iSeeCars.
Market Dynamics
Although the rate of price decline for electric vehicles has slowed (they fell by 29.1% in June 2024, but only by 8.8% over the past year), they are still significantly higher than those of conventional cars. Among brands, Tesla took first place in annual value depreciation (-8.4%), even surpassing Chrysler (-6.5%) and Dodge (-5.9%).
Interestingly, some premium brands, such as Maserati (-4.6%) and Genesis (-5.3%), also showed significant losses. Even more affordable brands, including Nissan, Buick, and Chevrolet, recorded a slight decrease in prices for their used models.
Recent data suggests that the used electric vehicle market remains unstable. Although the rate of price decline has slowed, buyers can still expect significant discounts compared to new cars. This is especially true for Tesla models, which, despite their innovativeness, continue to lose value quickly on the secondary market.