June 11, 2025 at 12:17 PM PDT Elon Musk and Donald Trump talk during a campaign event in Butler, Pa., on Oct. 5. (AP) The price of used Teslas dropped faster than any other auto brand in the past year, a new report says. ISeeCars.com – trackers of used-car sales — says the average price paid for a used Tesla was down 8% to $30,708. The next most significant price drops were Chrysler, off 7% to $25,632, Dodge, off 6% to $33,763, Genesis, off 5% to $33,769, and Maserati, off 5% to $43,821. Tesla faces numerous problems, most notably the controversial political roles of its high-profile chief executive, Elon Musk. His budget-cutting work for the Trump administration enraged many former Musk/Tesla fans, slashing the appeal of a once high-flying brand. Musk’s recent fallout with President Trump – not a factor in these sales stats – won’t help Tesla’s value. Note that in May, Tesla had four of its models among the 10 biggest price declines industrywide: Model S, off 16% to $46,503 – the biggest dip, No. 2 was Model Y, off 14% to $29,789, No. 5 was Model 3, off 11% to $25,361, and No. 10 was Model X, off 9% to $54,004. It’s not just used Teslas that are out of favor. Sales of its new cars have slumped, too – as has the company’s stock, slashed in value by one-third since a peak in mid-December. “Multiple factors contribute to a used car’s value, but being an electric vehicle and wearing the ‘Tesla’ brand appears to be a double negative,” said Karl Brauer, iSeeCars’ executive analyst. iSeeCars used-car study focuses on cars between 1 and 5 years old. Electric vehicles have lost their shine in the used-car market, as drivers fret about their hefty price tags and some operational challenges, notably how to keep the cars charged. Used EV sales prices were off 9% in the year ending in May to $31,110. Used passenger cars and minivans also saw declines, down 2% to $27,292. Conversely, Americans’ love for larger vehicles drove used SUV prices up 4% to $32,770 as trucks became 2% more expensive to $39,880. Curiously, prices of hybrids were up 2% to $30,702. Consumers paying up for these combinations of old and new engine technologies suggest some drivers want cutting-edge and efficient vehicles, not just the cost and challenges tied to EVs. Related Articles