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.
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.
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.
Top 14 Used Vehicles That Appreciated In Value vs. New
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.
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.
Read: Used Car Prices Take A Hit In 2023 With Tesla Model 3 Losing $11,000 In 6 Months
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.
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.
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.
“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.
Top 20 Used Vehicles With Highest Depreciation 2023