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The used car market is a fluid system, constantly changing the value of vehicles for a multitude of vehicles. Factors such as reliability, cost to own, prestige, the existence of a newer generation, and a host of other things all culminate to achieve a proper market value.
Major world events such as epidemics causing global supply shortages cause long-reaching effects on the market, and it seems that the previously inflated values of used cars spurned on by the shortages of new cars have started to come down.
iSeeCars has collated data from over 2.2 million 1- to 5-year-old used cars sold in May 2023 and 2024 to see which models have dropped their values most drastically. On average, they found a drop of 6.5% across the board. However, electric cars have seen a significant price crash, with some losing a third of their value in one year. A lowered demand for EVs has seriously tanked the market, and as we go over the top 10 value losers, you’ll notice a significant number of these once-hot models.
