September 10, 2024 at 11:42 AM The 15 Cars With the Biggest Price Drop Since 2023 Tesla A recent study by iSeeCars analyzed the prices of more than 1.6 million 1-to-5-year-old used cars, trucks and SUVs sold in August 2023 and August 2024. The goal: to compare them and determine which pre-owned vehicles had seen their prices fall the most over the preceding 12 months. And perhaps unsurprisingly, due to the slowing rate of electric vehicle marketplace, EVs made up nearly half of the vehicles at the top of the list. Of the top 15 vehicles with the biggest price drop, seven of them are EVs, and four of the top five vehicles are battery-powered. The Tesla Model 3 — America's second-best selling electric vehicle — saw the largest price drop over the last year, with the average price of used copies dropping by nearly a quarter. In fact, the price of used electric cars in general dropped 25 percent over the last year, according to the study; during the same time, used gasoline-powered vehicles lost only about 4.4 percent of their value, and pre-owned hybrids lost roughly 6 percent of their value. The positive side for EV fans is that the average 1-to-5-year-old used electric car is now more affordable than the average gas vehicle of the same age. According to the study, the average used price for a gas vehicle in August 2024 was $30,292, compared to just $26,839 for the average used EV. This price decrease, however, is leading to quicker sales of used EVs. 12 months ago, a pre-owned electric vehicle was on the market for an average of 55.3 days. That figure has now dropped to just 38.6 days. The following is the list of the 15 1-to-5-year-old used vehicles that saw the largest price drop over the last year. 1. Tesla Model 3