Tesla Model S and Model X received the Kelley Blue Book Best Resale Value award for 2023. Both vehicles made the list of the top 28 models in the US market.
The cost of a car drops from the moment you drive it “off the lot,” and this is no secret to anyone. However, not all cars lose their value equally quickly. While the average car can lose about 50% over a five-year period, there are those who keep it much better. Kelley Blue Book conducts years of research and determines the Best Resale Value of vehicles based on the analysis of data from millions of transactions. In 2023, their list included 28 vehicles and Tesla Model S and Model X were awarded.
According to the study, Tesla Model S retains its value best after five years of use in the category of luxury electric cars. Tesla Model X has become the winner among luxury electric SUVs. In addition, the car entered the top 10 among the best, thanks to an excellent result. All vehicles in the top 10 Kelley Blue Book's Best Resale Value 2023 are predicted to retain around 60% or more of their MSRP after the initial five-year ownership period.
Now in its 21st year, Kelley Blue Book’s Best Resale Value Awards are based on projections from the Kelley Blue Book Official Residual Value Guide. Residual values reflect projected future auction values for vehicles in average condition with 75,000 miles at the end of a five-year lease or ownership period.
© 2023, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.