- Used car prices overall rose, but Tesla models saw significant value drops last year.
- EV price declines are slowing but still show significant depreciation compared to others.
While used cars prices have generally been creeping upward in the United States since late last summer, not every vehicle is following the same script. Some models are actually shedding value – and fast. Leading the pack in this reverse race is none other than Tesla, according to a new study that analyzed resale trends.
var adpushup = window.adpushup = window.adpushup || {que:[]};
adpushup.que.push(function() {
if (adpushup.config.platform !== “DESKTOP”){
adpushup.triggerAd(“0f7e3106-c4d6-4db4-8135-c508879a76f8”);
} else {
adpushup.triggerAd(“82503191-e1d1-435a-874f-9c78a2a54a2f”);
}
});
Considering the company’s recent string of turbulent headlines and its larger-than-life CEO, Elon Musk, who’s never exactly at arm’s length from controversy, it’s not exactly shocking. Add in the uphill battle electric vehicles still face in resale value, and it starts to make even more sense.
Read: Ford Loses Second Spot As EV War Heats Up In America
The analysis, which examined 2.4 million used cars between one and five years old, compared prices from May 2024 to May 2025. It found the average used car in the US now costs $32,317, a noticeable increase from $30,673 last June and a solid rebound from the December 2024 low of $29,651. But for Tesla, the story is going in the opposite direction.
Tesla Tops the List for Price Plunges
According to data from iSeeCars, Tesla models dominate the list of used vehicles with the steepest year-over-year price declines. The biggest drop came from the Model S, which is now averaging $46,503 on the used market. That’s down a hefty $8,837 from last year, a 16% tumble.
This comes just as Tesla gave the Model S a $5,000 price bump for some light tweaks, making the used market look like the more sensible option, assuming you’re into big electric sedans that are almost old enough to apply for their own driver’s license.
The far more popular Model Y wasn’t far behind, with used prices dropping 14.2%, or $4,945, to an average of $29,789. Perhaps unsurprisingly, another EV was in third: the Porsche Taycan. Average used prices have collapsed 12.7% year-over-year, dropping $10,998 to $75,644. The Ford Explorer Hybrid was also a poor performer with an 11.3% reported decline, down to $31,811.
1-5 Year-Old Used Cars With Biggest Price Drops: 2025 Vs 2024
SWIPE
Rounding out the top five is the Tesla Model 3, with average used prices down 10.8%, representing a $3,078 drop to $25,361. Other notable underperformers include the Jeep Gladiator (down 10.7%), Ford Escape PHEV (down 9.9%), Maserati Levante (down 9.5%), and the Tesla Model X, which slid 8.9% to an average of $54,004.
var adpushup = window.adpushup = window.adpushup || {que:[]};
adpushup.que.push(function() {
if (adpushup.config.platform !== “DESKTOP”){
adpushup.triggerAd(“bb7964e9-07de-4b06-a83e-ead35079d53c”);
} else {
adpushup.triggerAd(“9b1169d9-7a89-4971-a77f-1397f7588751”);
}
});
“Multiple factors contribute to a used car’s value, but being an electric vehicle and wearing the ‘Tesla’ brand appears to be a double negative,” said Karl Brauer, executive analyst at iSeeCars.
Interestingly, the average prices of used EVs are declining at a slower rate than previously. The study has revealed that in June 2024, average EV prices dropped by a massive 29.1% or $11,764 from June 2023. By comparison, the difference year-over-year between May 2025 and May 2024 has been -8.8% or $2,993.
As far as brands are concerned, Tesla also takes the top spot with the sharpest overall value decline, dropping 8.4% year-over-year. That translates to an average $2,809 loss per used vehicle. Chrysler and Dodge followed, with declines of around 6% to 6.5%, and luxury players like Maserati and Genesis weren’t far behind, down 4.6% and 5.3% respectively. Even brands like Nissan, Buick, and Chevrolet saw small dips.
var adpushup = window.adpushup = window.adpushup || {que:[]};
adpushup.que.push(function() {
if (adpushup.config.platform !== “DESKTOP”){
adpushup.triggerAd(“bb7964e9-07de-4b06-a83e-ead35079d53c”);
} else {
adpushup.triggerAd(“9b1169d9-7a89-4971-a77f-1397f7588751”);
}
});
Car Brands With The Biggest Price Drops: 2025 Vs 2024
SWIPE
Average Prices of 1-5 Year-Old Used Cars: 2025 Vs 2024
SWIPE
Average Prices of 1-5 Year-Old Used EVs: 2025 Vs 2024
SWIPE