---
title: In-Depth Study:  Used Car Prices Dropping, Led By Tesla
description: Used car prices decreased for a consecutive two months at the end of 2022 according to iSeeCars.com. Find a CarPro. WWW.CARPRO.COM.
---

[CarPro News | CarPro ](https://www.carpro.com/blog)

# [In-Depth Study:  Used Car Prices Dropping, Led By Tesla](https://www.carpro.com/blog/in-depth-study-used-car-prices-dropping-led-by-tesla)

 Written by [CarPro](https://www.carpro.com/blog/author/carpro) | Feb 2, 2023 6:46:09 PM

Used car prices are on their way down - led by Tesla. This, according to new research from iSeeCars.com.   

### Big Changes in Used Car Prices

In a new[ iSeeCars analysis, ](https://www.iseecars.com/used-car-prices-study#v=202212)researchers report that overall used car prices have dropped compared to a year ago for 2 months in a row, marking the first time values have actually decreased year-over-year since June of 2020. The drop started in November (down 2%) and fell further in December (down 3%) when the average used car price was down over $1,000, the first substantial drop in more than 2 years.

They also say Tesla is leading the drop in used car prices, with the biggest loser the Tesla Model 3, losing nearly17% of its value since September.

According to iseeCars.com Executive Analyst  Karl Brauer, things are a long way from normal but there are clear signs the higher prices of the past two years are coming to an end.  [Read more of his analysis here.](https://www.iseecars.com/used-car-prices-study#v=202212)

Here's a look at some of iSeeCars.com's data:

#### USED CAR PRICES BY MONTH 

##### **Year-over-year Used Car Prices by Month, ****September - December 2022**

| **Changes in Used Car Prices, 2022 vs. 2021** **September to December - iSeeCars Study** |  |  |  |
| --- | --- | --- | --- |
| **Month** | **Average Used Car Price** | **$ Price Change from 2021** | **% Price Change from 2021** |
| December | $33,582 | -$1,043 | -3.0% |
| November | $31,823 | -$697 | -2.1% |
| October | $32,740 | $1,133 | 3.6% |
| September | $33,368 | $2,414 | 7.8% |

 

##### **Used Cars with the Biggest Price Drops, December 2022 vs. September 2022**

| **Top 10 Cars with the Greatest Price Decreases ** **(December 2022 vs. September 2022) - iSeeCars Study** |  |  |  |  |
| --- | --- | --- | --- | --- |
| **Rank** | **Used Vehicle** | **Average Used Car Price (Dec 2022)** | **$ Price Change from September** | **% Price Change from September** |
| 1 | **Tesla Model 3** | $43,817 | -$8,822 | -16.8% |
| 2 | [**Nissan Kicks**](https://www.carpro.com/vehicle-reviews/review-2023-nissan-kicks-sr-is-an-outstanding-value) | $20,046 | -$2,718 | -11.9% |
| 3 | **Ford Mustang** | $26,852 | -$3,495 | -11.5% |
| 4 | **Hyundai Ioniq Hybrid** | $20,542 | -$2,527 | -11.0% |
| 5 | **[Toyota RAV4](https://www.carpro.com/vehicle-reviews/2021-toyota-rav4-prime-xse-review)** | $28,383 | -$2,766 | -8.9% |
| 6 | **Jaguar E-PACE** | $35,221 | -$3,052 | -8.0% |
| 7 | **GMC Acadia** | $30,922 | -$2,590 | -7.7% |
| 8 | **Ford Ecosport** | $20,064 | -$1,515 | -7.0% |
| 9 | **Toyota Camry** | $25,521 | -$1,912 | -7.0% |
| 10 | **Audi SQ5** | $44,447 | -$3,228 | -6.8% |
| Average Across All Cars | $33,582 | $214 | 0.6% |  |

 

##### **Used Cars with the Biggest Price Increases, December 2022 vs. September 2022**

 

| **Top 10 Used Cars with the Greatest Price Increases ** **(December 2022 vs. September 2022) - iSeeCars Study** |  |  |  |  |
| --- | --- | --- | --- | --- |
| **Rank** | **Used Vehicle** | **Average Used Car Price, Dec 2022** | **$ Price Change from September** | **% Price Change from September** |
| 1 | [**Cadillac Escalade**](https://www.carpro.com/vehicle-reviews/2022-cadillac-escalade-with-super-cruise-review) | $76,040 | $9,867 | 14.9% |
| 2 | **Porsche 911** | $198,076 | $25,577 | 14.8% |
| 3 | **Mercedes-Benz S-Class** | $89,403 | $10,737 | 13.6% |
| 4 | **Maserati Levante** | $61,240 | $7,170 | 13.3% |
| 5 | [**Mercedes-Benz GLS**](https://www.carpro.com/vehicle-reviews/2021-mercedes-amg-gls-63-review) | $68,880 | $8,008 | 13.2% |
| 6 | **Maserati Ghibli** | $50,606 | $5,879 | 13.1% |
| 7 | [**Cadillac Escalade ESV**](https://www.carpro.com/vehicle-reviews/2019-cadillac-escalade-esv-review) | $73,093 | $8,206 | 12.6% |
| 8 | **BMW 7 Series** | $61,875 | $5,638 | 10.0% |
| 9 | [**Acura MDX**](https://www.carpro.com/vehicle-reviews/2022-acura-mdx-sh-awd-advance-review) | $41,120 | $3,446 | 9.1% |
| 10 | [**Chevrolet Corvette**](https://www.carpro.com/vehicle-reviews/2019-chevrolet-corvette-grand-sport-review) | $85,834 | $7,089 | 9.0% |
| Average Across All Cars | $33,582 | $214 | 0.6% |  |

 

** **

#### USED CAR PRICES DECEMBER 2022 VS 2021

 

##### **Used Cars with the Biggest Price Drops, December 2022 vs. December 2021**

 

| **Top 10 Used Cars with the Greatest Price Drops ** **(December 2022 vs. 2021) - iSeeCars Study** |  |  |  |  |
| --- | --- | --- | --- | --- |
| **Rank** | **Used Vehicle** | **Average Used Car Price (Dec 2022)** | **$ Price Change from 2021** | **% Price Change from 2021** |
| 1 | [**Nissan Armada**](https://www.carpro.com/vehicle-reviews/2021-nissan-armada-platinum-review) | $33,621 | -$6,846 | -16.9% |
| 2 | [**Ford Expedition MAX**](https://www.carpro.com/vehicle-reviews/2021-ford-expedition-max-limited) | $48,137 | -$8,606 | -15.2% |
| 3 | **Jaguar E-PACE** | $35,221 | -$6,039 | -14.6% |
| 4 | [**Ford Mustang**](https://www.carpro.com/vehicle-reviews/2018-ford-mustang-gt-review-and-test-drive) | $26,852 | -$4,189 | -13.5% |
| 5 | [**INFINITI QX80**](https://www.carpro.com/vehicle-reviews/2022-infiniti-qx80-sensory-review) | $44,104 | -$6,686 | -13.2% |
| 6 | **Tesla Model 3** | $43,817 | -$5,744 | -11.6% |
| 7 | [**Land Rover Range Rover Velar**](https://www.carpro.com/vehicle-reviews/2018-range-rover-velar-r-dynamic-test-drive) | $49,700 | -$6,370 | -11.4% |
| 8 | **Audi SQ5** | $44,447 | -$5,527 | -11.1% |
| 9 | [**Chevrolet Camaro**](https://www.carpro.com/vehicle-reviews/2016-chevrolet-camaro-2lt-convertible-test-drive) | $31,604 | -$3,655 | -10.4% |
| 10 | **Mercedes-Benz G-Class** | $183,704 | -$20,453 | -10.0% |
| Average Across All Cars | $33,582 | -$1,043 | -3.0% |  |

 

 

##### **Used Cars with the Biggest Price Increases, December 2022 vs. December 2021**

 

| **Top 10 Used Cars with the Greatest Price Increases ** **(December 2022 vs. 2021) - iSeeCars Study** |  |  |  |  |
| --- | --- | --- | --- | --- |
| **Rank** | **Used Vehicle** | **Average Used Car Price (Dec 2022)** | **$ Price Change from 2021** | **% Price Change from 2021** |
| 1 | [**Toyota Prius Prime**](https://www.carpro.com/auto-news/toyota-prius-prime) | $32,131 | $5,891 | 22.5% |
| 2 | **[Nissan LEAF](https://www.carpro.com/vehicle-reviews/2020-nissan-leaf-plus-review)** | $28,314 | $4,898 | 20.9% |
| 3 | [**Chevrolet Bolt EV**](https://www.carpro.com/vehicle-reviews/review-2022-chevrolet-bolt-ev) | $27,339 | $4,702 | 20.8% |
| 4 | **Porsche 911** | $198,076 | $28,494 | 16.8% |
| 5 | **MINI Clubman** | $29,409 | $3,616 | 14.0% |
| 6 | [**Toyota Camry Hybrid**](https://www.carpro.com/vehicle-reviews/2020-toyota-camry-xle-hybrid-review) | $31,443 | $3,405 | 12.1% |
| 7 | [**Honda Accord Hybrid**](https://www.carpro.com/vehicle-reviews/2021-honda-accord-hybrid-touring-review) | $32,811 | $3,545 | 12.1% |
| 8 | [**Toyota Prius**](https://www.carpro.com/vehicle-reviews/2022-toyota-prius-nightshade-edition-review) | $27,397 | $2,930 | 12.0% |
| 9 | [**Toyota RAV4 Hybrid**](https://www.carpro.com/vehicle-reviews/2019-toyota-rav4-hybrid-xse-awd-review) | $37,702 | $3,904 | 11.6% |
| 10 | [**Volkswagen Golf GTI**](https://www.carpro.com/vehicle-reviews/2021-volkswagen-golf-gti-review) | $29,761 | $3,077 | 11.5% |
| Average Across All Cars | $33,582 | -$1,043 | -3.0% |  |

 

For used car price changes by Body Type and Fuel Type and for more analysis  [visit iSeeCars.com.](https://www.iseecars.com/used-car-prices-study#v=202212)

Photo Credit: By [BELL KA PANG](https://www.shutterstock.com/g/BELL+KA+PANG)/Shutterstock.com.

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