Tesla and its CEO, Elon Musk, have faced tough times lately with hundreds of protests against Musk's poisonous politics and Tesla's once-bestselling EVs continuing to take place each day around the world. Just last month, the Tesla Model S and Model X ranked third and ninth respectively on the list of the ten vehicles with the highest five-year depreciation, and a new iSeeCars study reveals that Tesla's depreciation is gaining momentum. Between March 2024 and March 2025, Tesla's Model S lost more value on the used market than any other model in the study, and as a brand, Teslas lost more value than any other manufacturer, year-over-year.
More Teslas made the list than any other brand, with four of Tesla's five models in the top 20 cars that lost the most value over the past year. For context, the only other manufacturers with two models on the list were Mercedes-Benz and Chrysler; every other manufacturer had just one model on the list. It seems like people really don't want to be seen in a Tesla regardless of the model, and it's largely thanks to the globally rebuked antics of the brand's inflammatory CEO Elon Musk.
Tesla
This study analyzes the average list price of over 1.4 million used cars sold in March 2024, and compares it to the average list price of the same model in March 2025 to determine which used vehicles experienced the most significant loss of value year-over-year. The rankings are determined based on the difference between those two values expressed as a percentage. On average, used car values actually increased overall by 1 percent year-over-year, so these are the outliers.
The study found the Tesla Model S lost the most value of any model in the study, at a loss of 17.2 percent; that means it lost $9,944 in value over the course of a single year. The Tesla Model Y scored fifth, experiencing a 13.1-percent drop in value, or $4,634. The Model 3 placed eighth with a 10.9-percent or $3,193 drop, and the Model X placed 17 with a 7.3-percent drop in value, or $4,387 over a single year.
The average list price of a used Tesla Model S in March of 2025 fell to $47,931, while the Model Y dropped to $30,611, the Model 3 dropped to $26,084, and the average used Model X dropped to $55,990.
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The Tesla Model S experienced the most significant year-over-year price drop, and it beat out the second place Porsche Taycan by over 2 percent; Taycan prices dropped 15.1 percent or $13,422 last year. The Ford Explorer Hybrid landed third on the list, experiencing a 14.1-percent or $5,136 drop in price, the BMW 5 Series Hybrid landed fourth with a 13.9-percent or $5,557 drop in prices. Then came the Tesla Model Y, followed by the Maserati Levante with an 11.5-percent or $5,898 drop, the Mercedes-AMG GT with an 11.1-percent or $9,808 drop, which just outperformed the eighth-place Model 3. Ninth place was the Jeep Gladiator with an average price drop of 10.7 percent or $4,089, and tenth place was the Hyundai Kona Electric with a price drop of 10.6 percent or $2,462.
On the brand side, Teslas lost the most value of any brand in the study, losing an average of 10.1 percent of their value year-over-year. Chrysler came in second place with an average price drop of 8.9 percent, followed by Maserati in third place losing 8.6 percent. Genesis placed fourth with a 6.5-percent drop in prices, Dodge placed fifth losing a lower average of 4.7 percent of their value. Buick, Chevrolet, Nissan, Audi, and Volvo round out the top ten.
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