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USA Today
5 days ago
- Automotive
- USA Today
Tesla resale prices tumbling. These popular cars hold their value better
Though it's common knowledge that all vehicles lose value, it's not so easy to predict just how much or how quickly your new car or truck will depreciate as you drive it off the lot. For that reason, we turned to experts from Kelley Blue Book/Autotrader and CarGurus for advice about making one of life's biggest purchases – whether it be new or used. "I encourage people not to think of cars as assets because they are not an appreciating thing," said Sean Tucker, lead editor with Kelley Blue Book and Autotrader. "But it is still a major investment, and so there's a reason you don't want to buy the one that has lost 41% of its value in two years." That vehicle, according to Kelley Blue Book data, is the 2023 Tesla Model Y Long Range. "Our industry has never seen anything like what's happened to Tesla over the last year," Tucker said. As CEO Elon Musk worked with President Donald Trump's administration, Tesla saw the lowest Q1 results in three years. "We just don't have a frame of reference for what happens to the value of a car when people start protesting outside the dealerships that sell it," Tucker said. Tesla's Cybertruck stands alone Regardless of which data you review, the 2024 Cybertruck Cyberbeast 4WD has seen a notable drop: ◾ CarGurus provided an average monthly list price (aka the asking price) for the 2024 model year on its website. Below, see how the gray line trends down as the list price fell from $152,571 in May 2024 to $83,062 in May 2025, a 45.6% decrease. ◾ Kelley Blue Book (KBB), an auto valuation company, provided different metrics: two data points, the average manufacture's suggested retail price (MSRP) compared with KBB fair price today (orange line). "The fair price takes into account recent transactions within 50 miles of you within the last week and is constantly updated by what people are currently paying where you live," Tucker said. Based on the national average KBB provided to USA TODAY, a Cybertruck purchased new in May 2024 would fetch about $30,000 less one year later, a 29.4% decrease. Kevin Roberts, director of economic and market intelligence at CarGurus, cautions that the Cybertruck decline needs some context: "While Cybertruck's prices in general look stark, there are a couple of things to keep in mind. When they first were offered in November 2023, it was a really limited volume. That limited supply leads to a lot of consumer interest. And then now we've seen supply is much more normalized. In fact, you're hearing that they have too much inventory in the new side, which puts downward pressure on the price." Can't see our graphics? Click here. How popular car models depreciate over time Kelley Blue Book provided us with the same data points: the average MSRP compared with KBB fair price today for a number of popular 2023 models. Here's what we found: Trucks "Toyota is known for its high-end, predictable quality. They just keep their value better," Tucker said. Also, high resale value might be why you want to buy a Tacoma, Tucker said. For the F-150, Tucker notes the EV Lightning model had an even larger decrease. "Ford did everything it could to make those trucks functionally identical," Tucker said. "With new technology, a new market, there's always a threat that we don't face with gas-powered cars, which is that the technology could change drastically in the next few years." Midsize and crossover SUVs The popular Jeep Grand Cherokee saw a 31.3% decline over the past two years. "I think generally I would rather own a 3-year old Subaru than a 3-year old Jeep," Tucker said. "Jeep is a Stellantis brand, and they have kind of struggled with their long-term quality. I think it's improving, but that has been the perception for a long time." The real standout in the midsize/crossover category is the Hyundai Palisade and its 10-year powertrain warranty, Tucker said. "If you own a 2-year-old palisade, you have eight years left of warranty protection, which is just not the case with either of the other cars in there." Compact SUVs The 2023 Tesla Model Y Long Range saw a 41.1% drop when comparing the KKB fair price in 2023 with the average MSRP. "That comes down to what's happened to Tesla over the past year or even really the past six months," Tucker said. Sedans The Honda Accord dropped by 17.8%, or roughly $5,500. "Honda, very similar to Toyota, has that strong reliability reputation. These things last forever, and it shows up when it comes time to resell it," Tucker said. Vehicles that saw the biggest and smallest changes in used listing prices CarGurus looked at used 2024 models listed on its site from May 2024 through May 2025. From all vehicles available, it chose the five vehicles that declined the most in listing price and the five that declined the least. What they found: The five models from CarGuru's data with the biggest drop in list price from May 2024 to May 2025: Tesla Cybertruck: Down $69,509, 45.6% ($152,571 - $83,062) Down $69,509, 45.6% ($152,571 - $83,062) Ford F-150: Down $34,833, 37.7% ($92,502 - $57,669) Down $34,833, 37.7% ($92,502 - $57,669) RAM 1500: Down $16,279, 25.6% ($63,592 - $47,314) Down $16,279, 25.6% ($63,592 - $47,314) Range Rover : Down $43,293, 24.7% ($175,187 - $131,894) : Down $43,293, 24.7% ($175,187 - $131,894) Jeep Wrangler: Down $15,451, 24.2% ($63,940 - $48,488) Cybertruck: When looking at the decline in Tesla's Cybertruck price, the difference can be jaw-dropping. The Cybertruck saw a 45.6%, $69,509, price drop from May 2024 to May 2025. Roberts believes the initial price of the Cybertruck was probably artificially high. "There's even people I think at time were trying to flip them," Roberts said. "That drove the average list price higher than what the market would have been." Ford F-150, Jeep Wrangler: These models fell victim to an oversupply in the new market because of the 2021-2022 microchip shortage, Roberts said. "2024 is where we really started to see new inventory levels start to recover. And for certain brands, they got way too much inventory. With potential incentives on the new side, that puts more downward pressure on the used side price." Land Rover, Range Rover: "Known for its luxury styling and features, but typical of many premium brands, is likely experiencing steeper early price depreciation," Roberts said. Ram 1500: "This represents the final year of the previous generation," Roberts said, "with the all-new 2025 model likely effecting used pricing dynamics." The five models from CarGuru's data that declined the least or are up from May 2024 to May 2025: Subaru Crosstrek: Down $36, 0.1% ($29,690 - $29,654) Down $36, 0.1% ($29,690 - $29,654) Subaru Forester: Down $91, 0.3% ($33,693 - $33,602) Down $91, 0.3% ($33,693 - $33,602) Porsche Cayenne : Down $1,082, 1.1% ($102,637 - $101,555) Down $1,082, 1.1% ($102,637 - $101,555) Toyota RAV4 Hybrid: Down $596, 1.6% ($37,698 - $37,102) Down $596, 1.6% ($37,698 - $37,102) Porsche Macan: Down $1,342, 1.9% ($70,006 - $68,664) Subaru: "Subaru is in a situation where they have a lot tighter inventory, particularly for some of those kind of popular CUVs," Roberts said. "That leads to a situation where, hey, maybe you want a certain model, you might have an easier time on the used market, which helps to kind of prop up those prices." Porsche: "Luxury can be different," Roberts said. "You see a couple Porsches on the lis;, there's a limited supply in the marketplace and a lot of demand. That can lead to prices actually moving up on some of the used units." Toyota RAV4 Hybrid: "Much like the Subarus, the RAV4 continues to face some of the tightest supply in the market," Roberts said.
New Indian Express
20-05-2025
- General
- New Indian Express
Bangalore University to get heritage status tag
BENGALURU: To most popular and large Bangalore University's JnanaBharathi Campus will soon get a heritage status tag. If this this happens then the pet project proposed by Deputy Chief Minister and Bengaluru Development Minister, DK Shivakumar, to construct a skydeck on the campus to showcase Bengaluru as a tourism hub will be stalled. The BBMP has zeroed in on JnanaBharathi Campus for creating the high rise structure. This is because around 660 acres of the lung space and biopark at Jnanabharathi Campus on Mysuru Road, of the total 1,112 acres of the campus area, may be declared a 'Biodiversity Heritage Site'. Forest, Environment and Ecology Minister Eshwar B Khandre has asked the Karnataka Biodiversity Board (KBB) to submit a detailed proposal to declare the Bangalore University campus a 'Biodiversity Heritage Site'. In a letter to KBB, dated May 13, 2025, Khandre stated that the campus has lakhs of big trees and the department is responsible for protecting the area's biodiversity. Many attempts have been made to axe the trees for construction works. 'The idea is to protect the area. I have sought details and steps needed to control further activities,' Khandre told TNIE. Environmentalists, too have appealed to protect the area's biodiversity. Deputy Conservator of Forests, KBB, Govardhan Singh, said if the proposed area is declared a 'Biodiversity Heritage Site', all protective measures and restrictions on construction will be imposed as per the Biodiversity Act, 2002. 'A detailed survey of the area will be undertaken. To declare a heritage site, there should be rich and unique plant species. Land status also plays a crucial role,' Singh said. 'If declared a heritage site, no Skydeck can be constructed in the 660-acre area. Only vertical construction through extension of existing structure will be allowed in the already developed areas, with further approvals, to ensure that the area declared as heritage site is not impacted,' said a forest official. 'Declaring it a heritage site is needed as it is the last large surviving lung space in Bengaluru West and needs to be protected.' Retired BU Prof TJ Renuka Prasad said the campus is spread across 1,112 acres, where around 660 acres of land is green, comprising of biopark, valley and trees.
Yahoo
13-05-2025
- Automotive
- Yahoo
Car dealers shield buyers from tariff price hikes in April
The April Consumer Price Index (CPI) report revealed new car prices were flat, a surprise as many felt President Trump's auto sector tariffs would boost prices. But inventory at dealerships may have shielded car buyers from tariff price hikes, at least for now. In April, new vehicle prices came in at no change from the previous month and up 0.3% year over year. Used vehicle prices were down 0.5%, and up 1.5% from a year ago. The report comes on the heels of Trump's 25% foreign-made auto tariffs that began on April 3, affecting not only European and Asian manufacturers, but also Big Three automakers GM (GM), Ford (F), and Stellantis (STLA), which import vehicles from Canada and Mexico, as well as a few models from China. The expectation was for new vehicle prices to climb higher, reflecting the passing of tariff costs on to consumers, as well as a concurrent hike in used vehicle prices as buyers shifted to preowned vehicles. A big reason price hikes were minimized could have been dealers and automakers eating into their preexisting new car inventory, which includes imports that were not tariffed. Dealers were not shy about promoting tariff-free inventory to buyers as a sales tactic in the competitive new car sales landscape. Not surprisingly, the number of cars on the lot is shrinking. Vehicle data and buying site CarPro reports that overall industry stock in April dropped to 2.6 million vehicles from around 3 million, with days of supply falling to just over 60. The average is around 70 days of supply, CarPro said, with different manufacturers maintaining different levels. For instance, Toyota (TM) has around 10 to 15 days of supply, whereas GM maintains around 50 to 60 days. Stellantis, during its troubled summer of 2024, had over 100 days' supply in the US, though that has come down substantially. Meanwhile, Hyundai (up 19%), Honda (up 17%), Ford (up 15%), and Toyota (up 8%) saw huge sales gains in April. (Note: GM and Stellantis do not report monthly sales.) Another reason why prices may have stayed unchanged is that several automakers, including Hyundai, guaranteed pricing through the end of May, CarPro said. The firm also said shipments will soon be tariff-exposed, and further supply and pricing pressures are expected in the weeks ahead. The question is how long the automakers can hold the line on prices. 'Across OEMs, we continue to monitor post-tariff reactions, with GM saying that it will not raise prices across the board but continue to see consistent pricing (up 0.5%-1.0% for the year), and Ford extending employee pricing on most vehicles until July 4 (vs. June 2 previously) while hiking prices on Mexico-built vehicles,' Deutsche Bank's Edison Yu wrote in a note Tuesday morning. Kelley Blue Book (KBB), which tracks average transaction prices (ATP) at the dealership level, actually saw prices climb 2.5% month over month in April, more than double the average monthly move in April. A KBB spokesman told Yahoo Finance that timing and different data sources may have led to the deviations between KBB's numbers and the government's CPI reading. CPI data may be a bit older than KBB's, the spokesman said, meaning CPI data may be more of a trailing indicator than KBB's. With tariffs on foreign-made autos still on the table, prices are expected to rise, meaning April's lack of change in pricing may be a blip. As Deutsche Bank noted above, Ford is already raising prices on its Mexican-built Ford Maverick, Bronco Sport, and Mustang Mach-E EV. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram.
Yahoo
13-05-2025
- Automotive
- Yahoo
Car dealers shield buyers from tariff price hikes in April
The April Consumer Price Index (CPI) report revealed new car prices were flat, a surprise as many felt President Trump's auto sector tariffs would boost prices. But inventory at dealerships may have shielded car buyers from tariff price hikes, at least for now. In April, new vehicle prices came in at no change from the previous month and up 0.3% year over year. Used vehicle prices were down 0.5%, and up 1.5% from a year ago. The report comes on the heels of Trump's 25% foreign-made auto tariffs that began on April 3, affecting not only European and Asian manufacturers, but also Big Three automakers GM (GM), Ford (F), and Stellantis (STLA), which import vehicles from Canada and Mexico, as well as a few models from China. The expectation was for new vehicle prices to climb higher, reflecting the passing of tariff costs on to consumers, as well as a concurrent hike in used vehicle prices as buyers shifted to preowned vehicles. A big reason price hikes were minimized could have been dealers and automakers eating into their preexisting new car inventory, which includes imports that were not tariffed. Dealers were not shy about promoting tariff-free inventory to buyers as a sales tactic in the competitive new car sales landscape. Not surprisingly, the number of cars on the lot is shrinking. Vehicle data and buying site CarPro reports that overall industry stock in April dropped to 2.6 million vehicles from around 3 million, with days of supply falling to just over 60. The average is around 70 days of supply, CarPro said, with different manufacturers maintaining different levels. For instance, Toyota (TM) has around 10 to 15 days of supply, whereas GM maintains around 50 to 60 days. Stellantis, during its troubled summer of 2024, had over 100 days' supply in the US, though that has come down substantially. Meanwhile, Hyundai (up 19%), Honda (up 17%), Ford (up 15%), and Toyota (up 8%) saw huge sales gains in April. (Note: GM and Stellantis do not report monthly sales.) Another reason why prices may have stayed unchanged is that several automakers, including Hyundai, guaranteed pricing through the end of May, CarPro said. The firm also said shipments will soon be tariff-exposed, and further supply and pricing pressures are expected in the weeks ahead. The question is how long the automakers can hold the line on prices. 'Across OEMs, we continue to monitor post-tariff reactions, with GM saying that it will not raise prices across the board but continue to see consistent pricing (up 0.5%-1.0% for the year), and Ford extending employee pricing on most vehicles until July 4 (vs. June 2 previously) while hiking prices on Mexico-built vehicles,' Deutsche Bank's Edison Yu wrote in a note Tuesday morning. Kelley Blue Book (KBB), which tracks average transaction prices (ATP) at the dealership level, actually saw prices climb 2.5% month over month in April, more than double the average monthly move in April. A KBB spokesman told Yahoo Finance that timing and different data sources may have led to the deviations between KBB's numbers and the government's CPI reading. CPI data may be a bit older than KBB's, the spokesman said, meaning CPI data may be more of a trailing indicator than KBB's. With tariffs on foreign-made autos still on the table, prices are expected to rise, meaning April's lack of change in pricing may be a blip. As Deutsche Bank noted above, Ford is already raising prices on its Mexican-built Ford Maverick, Bronco Sport, and Mustang Mach-E EV. Pras Subramanian is a reporter for Yahoo Finance. You can follow him on X and on Instagram. Sign in to access your portfolio
Yahoo
26-04-2025
- Automotive
- Yahoo
3 Used Tesla Models That Are a Good Investment for Retirees
Are you looking for a reliable used Tesla? It's not uncommon for new Tesla models to retail for over $100,000. This type of price tag isn't ideal for retirees; however, it doesn't mean you can't own a Tesla. In this article, we'll cover three used Tesla models that are a good investment for retirees. For You: Trending Now: Looking for other affordable cars for retirees? Here are six suggestions. The Tesla Model S is a high-performing electric vehicle that comes with all of the bells and whistles. This vehicle offers an affordable price point, a comfortable ride and an impressive mileage range. Even better, the Model S holds its value. For example, a used 2022 Tesla Model S with just under 60,000 miles retails for about $38,000, according to Kelley Blue Book (KBB). Compared to 2025's price tag of around $100,000, according to Car and Driver — you can't go wrong with buying used. Read Next: 'The Model S is a true luxury vehicle,' said Melanie Musson, auto industry expert with 'If you want the fun and [cushy] driving experience, it's hard to beat the Model S. It has a longer range than other Tesla models, so it's great for retirees who like to take road trips.' The Tesla Model Y is another great investment for retirees. A used Tesla Model Y Long Range with under 15,000 miles retails for about $40,000, according to KBB. This is $10,000 to $20,000 cheaper than purchasing the 2025 Tesla Model Y, which starts at a price of $50,630, according to Car and Driver. The Model Y is more compact compared to the Model S, making it practical for everyday travel and long-distance trips. 'The Model Y has a higher entry than other Tesla models and that's a big deal when you're getting into and out of a car as you age,' Musson said. 'The second row allows retirees to have passengers, but it also folds down to add a lot of cargo space to the trunk.' The Tesla Model 3 Long Range is also a good used car investment for retirees. The Model 3 Long Range is designed for long-distance travel, making it great for retirees who want to explore and take frequent trips. While the 2025 Model 3 Long Range price starts at $44,130, you can find a quality used version for $30,000 to $40,000, according to Car and Driver. In fact, a used 2025 Tesla Model 3 Long Range with under 3,500 miles costs $38,500, according to KBB. Have you considered any of these three used Tesla models? When purchasing a used Tesla, there are a few key factors to look out for. First, be sure the vehicle is still under warranty. For example, the Model S has an eight-year unlimited mileage warranty on the battery. Also, be sure to check the accident records. Even minor fender benders could result in a damaged frame, making it important to understand your tentative Tesla's past record. Nevertheless, purchasing a used Tesla model can fit into your retirement budget and give you access to the luxury features you've been looking for. More From GOBankingRates 6 Used Luxury SUVs That Are a Good Investment for Retirees 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth 7 Overpriced Grocery Items Frugal People Should Quit Buying in 2025 How Much Money Is Needed To Be Considered Middle Class in Every State? This article originally appeared on 3 Used Tesla Models That Are a Good Investment for Retirees Sign in to access your portfolio
