June 14, 2025 at 18:48 by Read: Ford Loses Second Spot As EV War Heats Up In America The analysis, which examined 2.4 million used cars between one and five years old, compared prices from May 2024 to May 2025. It found the average used car in the US now costs $32,317, a noticeable increase from $30,673 last June and a solid rebound from the December 2024 low of $29,651. But for Tesla, the story is going in the opposite direction. Tesla Tops the List for Price Plunges According to data from iSeeCars, Tesla models dominate the list of used vehicles with the steepest year-over-year price declines. The biggest drop came from the Model S, which is now averaging $46,503 on the used market. That’s down a hefty $8,837 from last year, a 16% tumble. This comes just as Tesla gave the Model S a $5,000 price bump for some light tweaks, making the used market look like the more sensible option, assuming you’re into big electric sedans that are almost old enough to apply for their own driver’s license. The far more popular Model Y wasn’t far behind, with used prices dropping 14.2%, or $4,945, to an average of $29,789. Perhaps unsurprisingly, another EV was in third: the Porsche Taycan. Average used prices have collapsed 12.7% year-over-year, dropping $10,998 to $75,644. The Ford Explorer Hybrid was also a poor performer with an 11.3% reported decline, down to $31,811. 1-5 Year-Old Used Cars With Biggest Price Drops: 2025 Vs 2024 Rank