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These used car brands saw the biggest drop in value since the pandemic's peak


zedspider // Shutterstock

These used car brands saw the biggest drop in value since the pandemic’s peak

Cars for sale at a dealership.

Following record-setting price hikes throughout 2021, the cost of a used car is falling—although sticker prices are still more expensive than at any point prior to the start of 2020.

CoPilot analyzed used car data from dealerships around the country to rank the used vehicle models that have come down in price the most from their inflationary peak in early 2022. Price data is current as of Sept. 12. Exotic luxury car brands such as Maserati and Lamborghini were not included in this analysis.

Used car prices exploded over the course of 2021 in large part because of the chip shortage that stalled new automobile production once factories reopened. As global automobile production plummeted by 26% in the first three quarters of 2021, consumers flocked to the used-vehicle market for better deals and more selection, quickly driving used car prices sky-high.

But what goes up must come down, with the UBS predicting that global car production this year will outpace sales of new cars by 6%. That oversupply inevitably drives prices down for new and used cars—although rising interest rates could still spell higher monthly payments for consumers.

The brands whose vehicles depreciated the most since their peak include electric vehicle makers such as Tesla and Polestar, which have tumbled more than $20,000 from the retail prices they commanded a year ago. Tesla, in particular, moved to cut prices at the start of this year amid slowing sales and fear of a potential drop-off in demand as the economy slows.



Dom DiFurio // Stacker

The one-two punch that has you paying more for used vehicles

A chart showing the Consumer Price Index for used cars and trucks from 2010 to today. Prices remained relatively consistent during the 2010s and then spiked in 2021. The trend line shows price increases cooling some and then rising again in summer 2023.

That trend in which lower inventories were pushing up the price of new vehicles could be easing, as analysts at Cox Automotive report new vehicle inventory increased 68% in August compared to the same month last year.

In the used vehicle market, inventories remain down 9% over the previous year, according to Cox. Despite lower inventories, prices have cooled about 6% from this time last year on average among all used vehicles.

Read on to see the vehicle brands that have cooled off the most.



Jonathan Weiss // Shutterstock

Honda

Hondas parked at a dealership.

Decrease from summer 2022 peak: -$2,443



Jonathan Weiss // Shutterstock

Subaru

Used car display at a Subaru car dealership.

Decrease from summer 2022 peak: -$2,645



jejim // Shutterstock

Lexus

Red Lexus RC F Sport Coupe.

Decrease from summer 2022 peak: -$2,696



Jonathan Weiss // Shutterstock

Chrysler

Chrysler vehicles on display at a dealership.

Decrease from summer 2022 peak: -$3,044



Artistic Operations // Shutterstock

Cadillac

White Cadillac CT5 in dealer lot.

Decrease from summer 2022 peak: -$3,055



Jonathan Weiss // Shutterstock

Lincoln

Lincoln Nautilus SUV at a dealership.

Decrease from summer 2022 peak: -$3,781



Darren Brode // Shutterstock

Audi

Detail of the Audi S4 sedan.

Decrease from summer 2022 peak: -$4,082



Jonathan Weiss // Shutterstock

Infiniti

Used Infiniti QX80 display at a dealership.

Decrease from summer 2022 peak: -$4,094



Artistic Operations // Shutterstock

Mercedes-Benz

Selection of pre-owned Mercedes-Benz SUVs at dealership.

Decrease from summer 2022 peak: -$5,308



Jonathan Weiss // Shutterstock

Volvo

Used Volvo XC60 on display at dealership.

Decrease from summer 2022 peak: -$5,627



woodsnorthphoto // Shutterstock

Land Rover

A used Land Rover Discovery SUV for sale at a dealership.

Decrease from summer 2022 peak: -$7,013



BoJack // Shutterstock

Fisker

Silver Fisker Karma EVER parked by buildings.

Decrease from summer 2022 peak: -$9,356



Luxury Fred Sherman // Shutterstock

Polestar

The 2021 Polestar 2 BEV in Palm Springs.

Decrease from summer 2022 peak: -$22,690



MilanoPE // Shutterstock

Karma

Karma GS-6 at an auto show.

Decrease from summer 2022 peak: -$22,692



Aleksei Potov // Shutterstock

Tesla

Navy Tesla Model 3 charging at supercharger station.

Decrease from summer 2022 peak: -$28,566

Data reporting by Dom DiFurio. Story editing by Nicole Caldwell. Copy editing by Tim Bruns.

This story originally appeared on CoPilot and was produced and
distributed in partnership with Stacker Studio.


Article Topic Follows: Money

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