Scientists have found out that the typical cost of used cars Has seen an uptick after several years of decline.
Nevertheless, some of the most widely-used electric vehicles have actually experienced a decline in value during that period.
What's happening?
A study According to an analysis by the online automotive search engine iSeeCars, the average asking price for a recently used vehicle stood at $31,624 in March 2025, marking a 1% increase compared to the previous year. The study examined more than 1.4 million pre-owned cars sold during both March of 2024 and 2025. All these automobiles ranged from one to five years old.
Karl Brauer, an iSeeCars executive analyst, pointed out that the recently observed rise in used car prices marks a significant shift compared to the prior year’s trends.
"During June 2024, used car prices dropped by up to 7.3%, however, they have remained stable over the last six months," said Brauer. said .
However, recent world events have led the used car market to adapt accordingly.
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"Currently, the price of used cars is increasing, even before tariffs affect the cost of new cars. This additional factor will exert further upward pressure on both new and used car prices," Brauer noted.
In spite of the prevailing tendency observed in the pre-owned vehicle market, firms like Tesla Porsche and Ford have experienced declines in the resale values of their used vehicles. According to iSeeCars, this trend has been observed. 20 vehicles That experienced the most significant decrease in worth over the last year.
Leading the chart, at number one, is the Tesla The Model S experienced a 17.2% reduction in its sale price since March 2024. This was succeeded by the Porsche Taycan, which faced a 15.1% depreciation in value. Coming in third place, the Ford Explorer Hybrid witnessed a 14.1% decrease in its pricing.
How crucial is the valuation of pre-owned vehicles?
Besides the Tesla Model S showing the most significant decrease in used vehicle prices, Tesla was also atop the ranking for car manufacturers with the steepest fall in overall used car values. Other brands featured on this list include Chrysler, Maserati, and Volvo.
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Despite generally steady used car prices, these 10 brands are experiencing declines, noted Brauer says, "This implies that consumers seeking to save money on their next used car purchase can still find deals, if they do their research."
Based on iSeeCars data, the value of all pre-owned Teslas has declined by more than 10% since 2024. This depreciation coincides with a significant reduction in Tesla’s new vehicle sales during this period. As of the end of Q1 2025, the firm has recorded approximately $2 billion lower in revenue compared to 2024.
"Tesla has become one of the most lucrative automotive companies globally recently; however, the continuous decline in both new and pre-owned car valuations, coupled with weakening sales, could hinder future earnings and profitability," noted Brauer.
Even though the business might face an obstacle, customers could potentially reap advantages from it. lower prices while purchasing vehicles with zero tailpipe emissions and a lower impact on the environment.
What actions are being taken regarding Tesla's decrease in revenue?
To set things back on track, Tesla CEO Elon Musk has opted to reduce his hands-on role With the Department of Government Efficiency, he can redirect his focus toward the company.
As CNN reported During a conference call with investors, Musk shared his decision. He stated, "Beginning next month, May, I plan to considerably reduce the amount of time dedicated to DOGE."
Tesla has experienced a rise in intense demonstrations at its dealerships across the world. A significant part of this backlash is due to Musk’s engagement in politics and his association with DOGE.
Both GOP and Democratic leaderships have introduced Efforts have been made to combat fraud over the years; however, skeptics of DOGE doubt the effectiveness of these measures. For example, in February, ABC News reported reported That Musk’s misunderstanding of record-keeping systems caused him to erroneously believe that deceased individuals were wrongly getting Social Security payments, and as of now, no particular person has been accused by DOGE of committing such fraud.
In the end, Musk continues to stay optimistic about his participation in the project. Trump administration .
"I believe the proper course of action is to combat waste and fraud and strive to steer the nation back onto the correct path," Musk said If the vessel of America sinks, Tesla will sink along with it.
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The study reveals significant depreciation in the resale prices of best-selling used vehicles: 'Even though consumers aim to save money... they can still come across good deals.' first appeared on The Cool Down .
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