It is no secret that new vehicles take a giant hit on worth as soon as they go away the dealership lot. Some take larger hits than others. Then there’s the Mercedes-Benz EQS. With sedan, SUV, and AMG trims mixed, the posh EV loses a whopping 48.7 p.c of its common new value after only one 12 months of possession, in accordance with a examine printed by iSeeCars. That equates to $65,143—primarily the identical as writing off a complete E-Class.
It isn’t the one electrical automobile on iSeeCar’s checklist of fastest-depreciating vehicles, both. 5 of the highest ten automobiles within the examine are EVs, beginning with the Nissan Leaf in second place. It solely loses $15,786 on common, however with a significantly decrease beginning value, we’re nonetheless speaking a few 45 p.c drop. Jaguar holds the excellence of getting the highest-depreciating combustion automobile with the F-Tempo in third, shedding $28,555, or 35.4 p.c of its worth. Alfa Romeo is not far behind with the Giulia at 33.4 p.c, dropping $16,297 on common. The Kia EV6 nabs fifth 33.3 p.c, shedding $18,081 on common.
| Make/Mannequin | Distinction Used Vs New (proportion) | Distinction Used Vs New (Worth) | Common Used Worth |
| Mercedes-Benz EQS | -47.8% | -$65,143 | $71,231 |
| Nissan Leaf | -45.7% | -$15,786 | $18,756 |
| Jaguar F-Tempo | -35.4% | -$28,555 | $52,010 |
| Alfa Romeo Giulia | -33.4% | -$16,297 | $32,467 |
| Kia EV6 | -33.3% | -$18,081 | $36,243 |
| Hyundai Ioniq 5 | -$32.9% | -$16,805 | $34,303 |
| Volkswagen ID.4 | -32.9% | -$15,609 | $31,870 |
| Alfa Romeo Stelvio | -32.3% | -$17,495 | $36,630 |
| Nissan Murano | -32.0% | -$13,842 | $29,458 |
| Mercedes-Benz S-Class | -31.5% | -45,781 | $99,598 |
What about automobiles that are not taking such a monetary beating? The examine exhibits numerous love for hybrid automobiles, however it’s the plucky Kia Rio that turned our heads. It appears of us within the US nonetheless need a cheap combustion-powered subcompact, as a result of it solely misplaced $21 on common after one 12 months of use. It is a drop of simply 0.1 p.c, which means a flippantly used Rio nonetheless fetches a nearly-full sticker value. The truth that it was dropped from Kia’s lineup for 2024 might be an element, too.
| Make/Mannequin | Distinction Used Vs New (proportion) | Distinction Used Vs New (value) | Common Used Worth |
| Land Rover Vary Rover | +2.8% | $4,067 | $147,311 |
| Kia Rio | -0.1% | -$21 | $18,682 |
| Mercedes-Benz G-Class | -2.3% | -$4,587 | $196,112 |
| Ford Maverick | -4.1% | -$1,385 | $32,505 |
| Ford Maverick Hybrid | -4.4% | -$1,474 | $32,039 |
| Toyota Sequoia Hybrid | -4.6% | -$3,737 | $77,653 |
| Toyota Corolla Hybrid | -5.0% | -$1,359 | $26,038 |
| Toyota RAV4 Hybrid | -5.3% | -$2,131 | $37,727 |
| Honda Civic | -5.5% | -$1,577 | $26,934 |
| Kia Sportage Hybrid | -5.9% | -$2,085 | $33,397 |
Saving face for Mercedes is the G-Class, which ranks third on the least-depreciating scale with a 2.3-percent drop, or $4,587 on common. In the meantime, the Ford Maverick solely loses round $1,400 on common. It holds fourth and fifth place right here, representing the usual combustion mannequin and the hybrid at 4.1 and 4.4 p.c.
The primary-place Land Rover Vary Rover has the curious distinction of promoting 2.8 p.c over its new sticker value on common after one 12 months. We suspect that is skewed because of the new 2024 mannequin slowly reaching the market, pushing up demand for used SUVs as impatient consumers get uninterested in ready or refuse to pay excessive vendor markups. The iSeeCars group mentions this idea as effectively.
The examine evaluated over 1.6 million new and used listings from January by means of March 2024, incorporating 2023 and 2024 model-year automobiles. On this occasion, “used” equals a automobile having mileage inside 20 p.c of 13,476 miles, largely thought-about common mileage for a 12 months of use. Low-volume area of interest automobiles had been excluded from the analysis.
It is fascinating to see a transparent drop in EV costs versus sturdy residuals for used hybrids. This helps the softening demand for totally electrical automobiles we have seen, whereas hybrids stay fascinating selections for a lot of. The examine additional breaks down new-versus-used automobiles by value brackets and places within the US, which you’ll be able to see on the supply hyperlink beneath.
