The research geeks at iSeeCars have released a new study and this one takes a look at vehicle depreciation rates after five years. While all used cars are holding their values better today than they were in 2019, not all used cars retain their value equally.
Overall, the average 5-year depreciation for all used cars is 38.8% but if you bought a C7 Corvette back in 2018-19, you’re making out a little better. The average 5-year depreciation for the Chevrolet Corvette is 27.5% while the average difference from MSRP is said to be $22,712. That rate placed the Corvette at number 23 of the 25 best vehicles retaining their values.
While that can be considered pretty darn good, it was the Porsche 911 Coupe that leads the list with only a 9.3% depreciation after five years while the Porsche 718 Cayman was second at 17.6%. That’s a significant difference between the first and second positions on this list and we wonder if the depreciation rate for 911 may be an outlier. Two other Porches also made the list, the 718 Boxter at 25.1% and the 911 Convertible at 26.0%.
The Corvette was joined by two other Chevrolet in the Top 25 with the Camaro that comes in at number 7 with a 24.2% rate of depreciation over five years, and the Chevrolet Spark which came in at number 19 with a 26.6% five year depreciation rate.
The analysts at iSeeCars researched the prices of over 1.1 million vehicles sold from November 2022 to October 2023 to determine the 5-year depreciation rates. In comparing this data historically, it found that depreciation was lower across major segments than in 2019.
“The good news for car owners is that all used cars hold their value better than they did five years ago,” said Karl Brauer, iSeeCars executive analyst. “But not all used cars retain value equally, with trucks and hybrids among the best segments and electric vehicles the worst. Hybrids have a nearly 12 percentage point advantage over EVs in value retention, which translates to thousands of dollars in higher market value after five years.”
iSeeCars also ranks the top 25 vehicles with the highest 5-year depreciation rates and we see that its mostly luxury vehicles that are impacted. The Maserati Quattroporte was tops with a 64.5% depreciation rate over 5 years and value difference of $90,588 from its MSRP. Three Cadillac models also made the list led by the Escalade ESV with a 58.5% depreciate rate over five years.
You can see all the charts in this study at iSeeCars.
Source:
iSeeCars
Related:
The Chevy Corvette is One of the Top 20 Fastest Selling Used Cars on the Market
C8 Corvette Ranks 12 on List of Top 14 Used Cars More Expensive than New
Study Shows Used C8 Corvette Prices Decline from January 2022
Subscribe Now:
-
![[VIDEO] Chevrolet Was Prepared to Build the C7 and C8 Corvette Simultaneously](https://www.corvetteblogger.com/images/content/uploads/2024/04/042224_7-218x150.jpg "[VIDEO] Chevrolet Was Prepared to Build the C7 and C8 Corvette Simultaneously")
It’s hard to believe that the Kia Rio and Chevrolet Spark have lower depreciation rates than the Corvette and the Nissan Kicks is tied with it. Who even buys those cars?
It really depends on the model- Z06, ZR1, Grand Sport, Z07 option, or M7. These cars have held up better.
My 2019 Stingray 2LT has not had that kind of depreciation.
Comments are closed.