These Car Prices Are Depreciating The Most Right Now

Across the board, electric vehicles are shedding value faster than their gas-powered counterparts. The average used EV dropped 4.8 percent in value, while internal combustion engine vehicles actually gained 5.2 percent on average.

1. Tesla Model S

Tesla’s luxury sedan tops the list with the steepest percentage decline in value among all used cars over the last 12 months.

The average Model S now sells for $46,671, down a staggering 15.8 percent from the previous year. That’s a loss of $8,768 in just one year, highlighting waning demand and shifting perceptions in the used EV market.

2. Tesla Model X

Despite holding a higher starting price, the Model X hasn’t fared any better. In fact, it lost even more money than the Model S in dollar terms—$9,544 to be exact—but due to its original MSRP, that equates to a slightly smaller 15.5 percent drop.

Still, this makes it the second-biggest loser, reflecting the market’s cooling appetite for luxury electric crossovers.

3. Tesla Model Y

America’s favorite EV SUV hasn’t been spared either. The Model Y, which now averages $29,387 on the used market, has lost 13.6 percent of its value year-over-year, a drop of $4,637.

The depreciation is likely due in part to the recently updated version hitting showrooms, pushing down the perceived value of previous models.

4. Ford Explorer Hybrid

Even hybrids are starting to show signs of softness. The Ford Explorer Hybrid experienced a 10 percent drop in resale value, shedding $3,441 and settling at an average resale price of $30,960.

Despite offering improved fuel economy and family utility, this electrified Explorer isn't holding up well against competitors—the Explorer Hybrid isn't offered to retail shoppers anymore, so that may also be contributing to its rapid decline.

5. Jeep Gladiator

The Jeep Gladiator has taken a resale hit of 9.6 percent, losing $3,642 in value. Once a red-hot post-pandemic purchase, the Gladiator is now facing heavier competition from other trucks and off-roaders.

Its average price has dipped to $34,230, showing that demand has cooled even in the lifestyle pickup segment.

6. Tesla Model 3

The most accessible Tesla also makes the list. The Model 3 is down 9.4 percent from last year, translating to a $2,598 drop.

At $25,132, the Model 3 continues to sell in volume, but saturation and shifting incentives have dulled its resale appeal.

7. Maserati Levante

The Maserati Levante's Italian charm hasn’t saved it from heavy depreciation. It lost 7.9 percent of its value over the past year, equivalent to $3,765.

Now averaging $44,160, the Levante exposes a recurring issue in exotic brands: steep value loss due to limited market appeal and high upkeep costs. The Levante is another model on this list no longer on sale.

8. Porsche Taycan

Porsche’s Taycan is the highest-priced vehicle on the list and among the hardest hit in resale. It dropped 7 percent in value over 12 months, falling by $5,862 to an average used price of $78,200.

While still a head-turner with cutting-edge tech, the Taycan shows that performance-oriented EVs are one of the first to succumb to market skepticism.

9. Chrysler Voyager

The utilitarian Chrysler Voyager has seen a value dip of 6.6 percent, losing $1,591 and now averaging $22,521 on the used market.

Aimed at budget-conscious families and fleet buyers, the Voyager's age and lack of buzz are catching up to it in terms of depreciation.

10. Lincoln Aviator

Rounding out the list is the Lincoln Aviator. It dropped 5.9 percent in value, or $2,703, settling at a resale average of $43,130.

While stylish and well-equipped, the Aviator is losing favor with used buyers amid strong luxury SUV competition from both domestic and European brands.