As a general rule, cars are not an appreciable asset. In 2022, the world went crazy, and lightly used vehicles were trading for 8.5 percent more than new vehicles, on average. Fortunately, the world is returning to normal, and this is no longer the case in 2023.
According to data collected by iseecars.com, lightly used vehicles (from the 2022-2023 model years) are now worth 8.1 percent less than when they were new. That’s a total loss of about $3,700, which is a reversal from the same period last year, when a pandemic hangover made lightly used vehicles worth $3,574 more, on average, than new ones.
That drop in value has been driven by vehicles like the Audi e-tron, lightly used examples of which are worth nearly 28 percent, or $22,757, less than the new car. Similarly, the Alfa Romeo Stelvio is worth 26.9 percent less than it was new, on average.
The top 14 used vehicles with appreciated value vs. new
| classification | model | To increase % | Increase $ | Average Used Price |
| 1 | Ford Maverick | 12.30% | $4,038 | $36,777 |
| 2 | Toyota Corolla hybrid | 7.90% | $2,038 | $27,809 |
| 3 | Mercedes G Class | 4.60% | $8,633 | $196,228 |
| 4 | Toyota Sienna | 3.70% | $1,806 | $50,978 |
| 5 | Toyota RAV4 Prime | 3.50% | $1,726 | $51,298 |
| 6 | Toyota Corolla Cross | 2.90% | $853 | $30,636 |
| 7 | Toyota RAV4 hybrid | 2.40% | $953 | $40,045 |
| 8 | Kia Carnival | 2.20% | $916 | $42,025 |
| 9 | Ford Bronco | 1.70% | $901 | $55,372 |
| 10 | Honda Civic (hatch) | 1.00% | $297 | $29,683 |
| 11 | Honda Accord Hybrid | 0.40% | $152 | $34,704 |
| 12 | Chevy Corvette | 0.40% | $324 | $84,827 |
| 13 | Let’s go to Rio | 0.10% | $27 | $20,135 |
| 14 | Honda Accord | 0.10% | $16 | $30,404 |
For those looking to avoid a large depreciation, it’s probably wise to avoid the premium segment. Thirteen of the top 20 losers, in terms of second-hand value, were luxury vehicles from Audi, Mercedes, Alfa Romeo, Porsche and others.
Although the used car market is normalizing, it is still not quite normal. The average price of a lightly used vehicle is $41,812, and there are still 14 vehicles that really appreciate after they leave the dealership.
Read: Used car prices take a hit in 2023 with Tesla Model 3 losing $11,000 in 6 months
The biggest winner is the Ford Maverick (+12.3%), which is well ahead of the next gainer, the Toyota Corolla Hybrid (+7.9%). In general, the vehicles that are gaining value are fuel efficient and reasonable and tend to be reasonably priced.
The one notable exception to this list is the Mercedes-Benz G-Class. The third best-performing vehicle in terms of second-hand value, lightly used examples of the luxury SUV are worth an average of 4.6 percent ($8,633) more than they were new.
While prices are undoubtedly being helped by new vehicle production returning to normal, other factors are also contributing to the second-hand market finding a healthier balance.
“Inflation and interest rates are among the main factors affecting consumer spending, as reflected in a substantial decline in used car prices over the past year,” said Karl Brauer, executive analyst at iSeeCars.com.
Top 20 Used Cars with the Highest Depreciation in 2023
| classification | vehicle | decrease % | Decrease $ | Average price used |
| 1 | Audi e-tron | -27.80% | -$22,757 | $59,073 |
| 2 | Alfa Romeo Stelvio | -26.90% | -$14,698 | $39,994 |
| 3 | Mercedes C Class | -24.60% | -$13,189 | $40,533 |
| 4 | Audi A4 | -24.30% | -$11,963 | $37,265 |
| 5 | Nissan Titan | -23.90% | -$13,809 | $44,020 |
| 6 | Chevy Silverado 1500 L | -23.10% | -$14,438 | $48,134 |
| 7 | Infiniti QX80 | -23.00% | -$19,104 | $63,794 |
| 8 | Nissan Murano | -22.80% | -$10,199 | $34,445 |
| 9 | Infiniti Q50 | -22.50% | -$11,188 | $38,599 |
| 10 | Porsche Macan | -22.40% | -$16,567 | $57,402 |
| 11 | Mercedes S Class | -22.20% | -$29,878 | $104,459 |
| 12 | BMW 7 Series | -22.10% | -$22,190 | $78,364 |
| 13 | Genesis G70 | -22.00% | -$10,878 | $38,576 |
| 14 | BMW 2 Series | -22.00% | -$9,956 | $35,312 |
| 15 | Infiniti QX50 | -21.40% | -$10,492 | $38,518 |
| 16 | Ford Mustang Mach-E | -21.10% | -$13,430 | $50,086 |
| 17 | BMW 5 Series | -20.40% | -$13,699 | $53,296 |
| 18 | Volkswagen ID.4 | -20.40% | -$10,048 | $39,156 |
| 19 | Jeep Compass | -20.40% | -$7,316 | $28,530 |
| 20 | Nissan Rogue Sport | -20.40% | -$6,494 | $25,325 |
| – | Industry average | -8.10% | -$3,701 | $41,812 |
array(13) [0]=> string(260) "As a rule, cars are not an appreciating asset. In 2022, the world went mad, and lightly used vehicles were trading for 8.5 percent more than new vehicles, on average. Fortunately, the world is normalizing again, and that’s no longer the case in 2023." [1]=> string(496) "
According to data gathered by iseecars.com, lightly used vehicles (from the model years 2022-2023) are now worth 8.1 percent less than they were when new. That’s a total of around a $3,700 loss, which is a reversal from the same period last year, when a pandemic hangover caused lightly used vehicles to be worth $3,574 more, on average, than brand-new ones." [2]=> string(318) "
That drop in value has been driven by vehicles like the Audi e-tron, lightly used examples of which are worth nearly 28 percent, or $22,757, less than the brand-new car. Similarly, the Alfa Romeo Stelvio is worth 26.9 percent less than it was new, on average." [3]=> string(174) "
Top 14 Used Vehicles That Appreciated In Value vs. New" [4]=> string(1728) "
Rank Model Increase % Increase $ Avg. Used Price 1 Ford Maverick 12.30% $4,038 $36,777 2 Toyota Corolla Hybrid 7.90% $2,038 $27,809 3 Mercedes G-Class 4.60% $8,633 $196,228 4 Toyota Sienna 3.70% $1,806 $50,978 5 Toyota RAV4 Prime 3.50% $1,726 $51,298 6 Toyota Corolla Cross 2.90% $853 $30,636 7 Toyota RAV4 Hybrid 2.40% $953 $40,045 8 Kia Carnival 2.20% $916 $42,025 9 Ford Bronco 1.70% $901 $55,372 10 Honda Civic (hatch) 1.00% $297 $29,683 11 Honda Accord Hybrid 0.40% $152 $34,704 12 Chevy Corvette 0.40% $324 $84,827 13 Kia Rio 0.10% $27 $20,135 14 Honda Accord 0.10% $16 $30,404 For those looking to avoid big depreciation, it’s probably wise to avoid the premium segment. Thirteen of the 20 biggest losers, in terms of second-hand value, were luxury vehicles from Audi, Mercedes, Alfa Romeo, Porsche, and their ilk." [5]=> string(228) "
Although the used car market is normalizing, it isn’t quite normal yet. The average price for a lightly-used vehicle is $41,812, and there are still 14 vehicles that actually appreciate after leaving the dealer lot." [6]=> string(220) "
Read: Used Car Prices Take A Hit In 2023 With Tesla Model 3 Losing $11,000 In 6 Months" [7]=> string(277) "
The biggest gainer is the Ford Maverick (+12.3 percent), which is quite a ways ahead of the next-biggest appreciator, the Toyota Corolla Hybrid (+7.9 percent). Overall, the vehicles that are gaining value are fuel-efficient and sensible and tend to be reasonably priced." [8]=> string(313) "
The one notable exception on this list is the Mercedes-Benz G-Class. The third best performing vehicle, in terms of second-hand value, lightly used examples of the luxury SUV are worth an average of 4.6 percent ($8,633) more than they were new." [9]=> string(204) "
While prices are no doubt being helped by the fact that new vehicle production is returning to normal, other factors are also contributing to the second-hand market finding a healthier equilibrium." [10]=> string(225) "
“Inflation and interest rates are among the primary factors impacting consumer spending, as reflected in a substantial drop in used car pricing over the past year,” said Karl Brauer, iSeeCars.com Executive Analyst." [11]=> string(137) "
Top 20 Used Vehicles With Highest Depreciation 2023" [12]=> string(2250) "
"
Rank Vehicle Decrease % Decrease $ Avg Used Price 1 Audi e-tron -27.80% -$22,757 $59,073 2 Alfa Romeo Stelvio -26.90% -$14,698 $39,994 3 Mercedes C-Class -24.60% -$13,189 $40,533 4 Audi A4 -24.30% -$11,963 $37,265 5 Nissan Titan -23.90% -$13,809 $44,020 6 Chevy Silverado 1500 L -23.10% -$14,438 $48,134 7 Infiniti QX80 -23.00% -$19,104 $63,794 8 Nissan Murano -22.80% -$10,199 $34,445 9 Infiniti Q50 -22.50% -$11,188 $38,599 10 Porsche Macan -22.40% -$16,567 $57,402 11 Mercedes S-Class -22.20% -$29,878 $104,459 12 BMW 7 Series -22.10% -$22,190 $78,364 13 Genesis G70 -22.00% -$10,878 $38,576 14 BMW 2 Series -22.00% -$9,956 $35,312 15 Infiniti QX50 -21.40% -$10,492 $38,518 16 Ford Mustang Mach-E -21.10% -$13,430 $50,086 17 BMW 5 Series -20.40% -$13,699 $53,296 18 Volkswagen ID.4 -20.40% -$10,048 $39,156 19 Jeep Compass -20.40% -$7,316 $28,530 20 Nissan Rogue Sport -20.40% -$6,494 $25,325 – Industry Average -8.10% -$3,701 $41,812
array(13) [0]=> int(0) [1]=> int(1) [2]=> int(2) [3]=> int(3) [4]=> int(4) [5]=> int(5) [6]=> int(6) [7]=> int(7) [8]=> int(8) [9]=> int(9) [10]=> int(10) [11]=> int(11) [12]=> int(12)
