These EVs are dropping in value fast and that’s great for used buyers

These cars are dropping like rocks

Car values usually drop slowly over time, but these ones are sinking fast, and it’s catching everyone’s attention. Some lost thousands of dollars in just 12 months, which is a tough hit for anyone who bought new or recently used.

Electric vehicles, especially, are taking the biggest punches, but they’re not the only ones. Gas-powered luxury rides and even reliable family cars made the list. What’s causing this wave of depreciation? A mix of oversupply, shifting demand, and tech updates is behind the slide.

Teslas top the list for value loss

Four of the top ten biggest losers are Teslas, and that’s a surprise for a brand once known for strong resale value. It turns out, even popular EVs aren’t immune when consumer interest starts to cool.

The Model S, X, Y, and 3 all fell sharply in both price and percentage. Owners expecting Teslas to hold their worth are finding out the hard way. Combine that with increased competition and changes in EV incentives, and it’s a rough ride for resale.

Model S crashes hardest in percentage

The Tesla Model S took the biggest hit percentage-wise, losing 15.8% of its value in just one year. That’s a drop of $8,768, landing its average used price at $46,671.

Luxury EVs often fall fast due to expensive tech and rapidly aging features. But this drop is steep, even for a high-end sedan. As more advanced models enter the market and buyers become cautious, older Teslas face stiff resale competition.

Model X loses the most dollars

The Model X didn’t lose the highest percentage, but it did shed the most cash, $9,544, to be exact. That drop put its average resale price at $51,884 in June 2025.

This large, luxury SUV isn’t cheap to begin with, so that value loss really hurts. For buyers who paid full price not long ago, the rapid decline is enough to cause regret. And with newer SUVs offering longer range, quicker charging, and better tech, the Model X suddenly feels older than it is.

Model Y drops after fresh redesign

The Model Y fell by 13.6%, or $4,637, likely due to a refreshed version hitting showrooms in spring 2025. New looks and updated tech often pull attention, and dollars, away from older inventory.

Used buyers tend to chase deals, but they also want what’s current. That puts recently outdated models in a tough spot. The Model Y was a sales favorite, but when buyers realize they can spend a little more for the facelifted version, the older ones start to pile up.

Ford Explorer Hybrid takes a dive

The Ford Explorer Hybrid isn’t an EV, but that didn’t save it from losing 10% of its value. That’s a $3,441 drop in just a year, bringing its average resale price to around $30,960.

This dip could reflect changing buyer habits, especially with more hybrids and plug-ins hitting the market. As fuel efficiency rises across the board, older hybrids start to feel less special. For families hoping for better resale value, the Explorer’s drop might come as a shock.

Jeep Gladiator slips off-road

Known for its toughness and off-road charm, the Jeep Gladiator still lost 9.6% of its value, $3,642. That’s a surprising drop for a truck with such a loyal following and rugged appeal.

The fall could be tied to rising gas prices, slowing truck demand, or oversupply. It might also reflect a shift toward smaller, more efficient vehicles. The Gladiator’s bold looks and lifestyle branding aren’t enough to keep prices up when wallets are tight.

Model 3 proves no Tesla is safe

Tesla’s most affordable model, the Model 3, lost 9.4% of its value, about $2,598, dropping to an average of $25,132. That’s a sharp cut for a car once hailed as a budget-friendly EV star.

As entry-level EVs improve, early Model 3s are starting to feel outdated. Range, battery performance, and tech have all moved forward, leaving some older units behind. The Model 3’s dip shows that being cheap isn’t enough to avoid depreciation.

Maserati Levante disappoints in luxury

The Maserati Levante lost 7.9% of its value, or $3,765, showing that luxury doesn’t always mean high resale. Its average used price now sits around $44,160, despite the badge.

Expensive maintenance, limited dealer support, and low demand make it a risky resale bet. Even wealthy buyers want good value, and the Levante’s dip shows that nameplates alone can’t guarantee it. Flashy doesn’t always translate to lasting.

Porsche Taycan slips despite hype

The Porsche Taycan dropped 7%, or $5,862, over the year. For a high-performance EV that starts near $80,000, that’s a steep loss.

While it’s still a head-turner, used buyers may worry about long-term battery performance or pricey service. Porsche’s luxury build doesn’t protect it from depreciation in a fast-evolving market. Tech-forward buyers often want the newest version, not last year’s thrill.

Chrysler Voyager falls behind

The Chrysler Voyager lost 6.6%, or $1,591, over the past year. Its resale value now averages just $22,521, making it one of the least expensive on the list.

While it’s known as a budget family van, low demand and stiff competition from newer models likely drove the decline. Vans in general don’t hold value well, and without major upgrades, the Voyager feels stuck in the past. It’s basic, practical, and no-frills, but that doesn’t inspire used car buyers.

Lincoln Aviator floats down the ranks

The Lincoln Aviator lost 5.9%, or $2,703, landing it in tenth place. That’s a notable slide for a luxury SUV that once promised standout style and smooth comfort.

Luxury SUVs face serious pressure to stay modern, and the Aviator’s interior tech and features may be falling behind. High upkeep costs and rising interest rates make buyers think twice. When monthly payments climb, value retention matters more than ever.

EVs as a whole lose more value

Across the board, used EVs dropped an average of 4.8% in value. Internal combustion cars actually gained 5.2% during the same time.

That contrast shows a clear shift in buyer behavior. More shoppers are cautious about electric cars, especially secondhand ones. Concerns about battery life, outdated tech, and future resale are slowing demand. As a result, even average EVs are dropping harder than their gas-powered rivals.

EV uncertainty is shaking buyers

Some buyers hesitate when it comes to used EVs. They wonder how much life is left in the battery and how fast the tech is aging.

Unlike gas cars, EVs change fast; range, charging speed, and software updates all move quickly. That makes last year’s model feel older than it really is. With these concerns growing, resale values suffer. Used buyers want peace of mind, and right now, EVs come with more question marks than answers.

Tesla still leads, but faces crack

Tesla still owns over 40% of the U.S. EV market, but that grip is slipping. Demand dropped 11% from January to June 2025.

That’s a red flag for resale value. If fewer people want Teslas, used prices will keep falling. New models, fierce competition, and policy changes are all putting pressure on the brand. Even die-hard fans are starting to look elsewhere.

Curious who’s stepping up while Tesla slows down? See why China’s racing ahead in the global car game.

Tax credit rollback could worsen drops

With EV tax credits ending this September, many shoppers are rushing to buy new, and skipping used. That means used inventory could grow fast.

More cars on the lot and fewer buyers usually lead to lower prices. It also hurts owners hoping to trade in or sell. The ripple effect might last years, and used EV values could take the biggest hit. What seemed like a smart investment one year ago may turn out to be a money-loser today.

Looking for a ride that holds its value better? Check out these 6 durable SUVs that give you more for your money.

Seen your car’s value drop? Share your story below.

Read more from this brand:

• 16 new cars that look great but might offer poor value
• This hybrid Corvette dropped 25% in value after just 112 miles
• Behind Jaguar’s 97% sales drop: The real reasons it’s not a true meltdown

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This slideshow was made with AI assistance and human editing.