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

RankModelIncrease %Increase $Avg. Used Price
1Ford Maverick12.30%$4,038$36,777
2Toyota Corolla Hybrid7.90%$2,038$27,809
3Mercedes G-Class4.60%$8,633$196,228
4Toyota Sienna3.70%$1,806$50,978
5Toyota RAV4 Prime3.50%$1,726$51,298
6Toyota Corolla Cross2.90%$853$30,636
7Toyota RAV4 Hybrid2.40%$953$40,045
8Kia Carnival2.20%$916$42,025
9Ford Bronco1.70%$901$55,372
10Honda Civic (hatch)1.00%$297$29,683
11Honda Accord Hybrid0.40%$152$34,704
12Chevy Corvette0.40%$324$84,827
13Kia Rio0.10%$27$20,135
14Honda Accord0.10%$16$30,404
SWIPE

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

RankVehicleDecrease %Decrease $Avg Used Price
1Audi e-tron-27.80%-$22,757$59,073
2Alfa Romeo Stelvio-26.90%-$14,698$39,994
3Mercedes C-Class-24.60%-$13,189$40,533
4Audi A4-24.30%-$11,963$37,265
5Nissan Titan-23.90%-$13,809$44,020
6Chevy Silverado 1500 L-23.10%-$14,438$48,134
7Infiniti QX80-23.00%-$19,104$63,794
8Nissan Murano-22.80%-$10,199$34,445
9Infiniti Q50-22.50%-$11,188$38,599
10Porsche Macan-22.40%-$16,567$57,402
11Mercedes S-Class-22.20%-$29,878$104,459
12BMW 7 Series-22.10%-$22,190$78,364
13Genesis G70-22.00%-$10,878$38,576
14BMW 2 Series-22.00%-$9,956$35,312
15Infiniti QX50-21.40%-$10,492$38,518
16Ford Mustang Mach-E-21.10%-$13,430$50,086
17BMW 5 Series-20.40%-$13,699$53,296
18Volkswagen ID.4-20.40%-$10,048$39,156
19Jeep Compass-20.40%-$7,316$28,530
20Nissan Rogue Sport-20.40%-$6,494$25,325
Industry Average-8.10%-$3,701$41,812
SWIPE