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Biggest Price Drops on New Cars

September 14, 2023

As some of you may know, Tesla has cut prices dramatically this year. I wanted to see just how big of a price drop it was compared to the beginning of the year - and see if any other models come close to these price cuts.

I sifted through historical data and averaged out the prices each model was selling for in January 2023, and compared it to the average price they're selling for today. All of the data you see in the table below is based on the average selling prices including all rebates, discounts, or dealer add-ons (some of the vehicles were selling for above MSRP in January).

The important column to note is the % discount. This basically shows how much cheaper these cars have become today compared to the beginning of the year. The Tesla Model S has had an incredible 31.5% drop in price - that comes to a $38,000 price drop. If you waited to buy a Model S since January, you saved over $4,000 per month!

The good news is these deals should all be readily available on TrueCar No Haggle and CarsDirect.

If you're interested in purchasing a Tesla, you can use my referral link to get an additional $500 off.

Biggest Price Drops on New Cars in 2023

Vehicle	January '23	Current	Price Drop	% Drop
Tesla Model S	$120,490	$82,490	$38,000	31.5%
Tesla Model Y	$65,990	$47,853	$18,137	27.5%
Tesla Model X	$115,740	$84,990	$30,750	26.6%
Tesla Model 3	$54,990	$43,935	$11,055	20.1%
Dodge Durango	$44,440	$36,899	$7,541	17.4%
Hyundai IONIQ 5	$49,186	$41,315	$7,871	16.2%
Dodge Charger	$40,642	$34,559	$6,083	15.4%
Kia EV6	$45,574	$39,048	$6,526	14.5%
Dodge Challenger	$35,265	$30,755	$4,510	13.1%
Chrysler 300	$39,114	$34,020	$5,094	12.8%
Ford Edge	$47,458	$41,955	$5,503	12.5%
Kia Niro EV	$42,619	$37,542	$5,077	12.1%
Volvo XC90 Recharge	$79,016	$69,532	$9,484	11.9%
Volvo XC40 Recharge	$59,175	$52,658	$6,517	11.1%
Ford F-350	$61,250	$55,179	$6,071	10.6%
Ford F-250	$53,612	$48,750	$4,862	9.7%
Maserati Grecale	$73,205	$66,354	$6,851	9.2%
Mercedes EQB	$54,711	$49,748	$4,963	9.1%
Volvo C40 Recharge	$57,829	$52,980	$4,849	8.4%
Volvo XC60 Recharge	$67,705	$61,969	$5,736	8.4%
Jeep Compass	$34,845	$31,929	$2,916	8.4%
BMW iX	$110,554	$101,519	$9,035	8.2%
Mitsubishi Outlander Sport	$27,649	$25,512	$2,137	8.0%
Volkswagen ID.4	$49,192	$45,320	$3,872	7.9%
Audi e-tron GT	$112,788	$104,142	$8,646	7.8%
Mercedes Sprinter Cargo Van	$64,503	$59,490	$5,013	7.6%
Ford Transit Connect	$42,383	$39,402	$2,981	7.5%
Audi RS e-tron GT	$148,448	$137,751	$10,697	7.4%
Mercedes S-Class	$114,222	$105,443	$8,779	7.4%
Jeep Wrangler	$47,259	$43,672	$3,587	7.3%
Audi e-tron	$82,770	$76,795	$5,975	7.3%
Mercedes EQS SUV	$103,854	$96,033	$7,821	7.3%
Porsche Cayenne	$73,208	$67,951	$5,257	7.1%
INFINITI QX80	$77,312	$71,844	$5,468	6.9%
Maserati Ghibli	$90,049	$83,947	$6,102	6.7%
Volvo V60 Recharge	$74,654	$70,019	$4,635	6.5%
Ford E-Transit Cargo	$55,988	$52,540	$3,448	6.3%
Mercedes GLE Coupe	$84,573	$79,494	$5,079	6.2%
Audi e-tron S	$99,245	$93,178	$6,067	6.2%
Hyundai Santa Cruz	$38,779	$36,363	$2,416	6.2%
Lincoln Nautilus	$53,173	$49,943	$3,230	6.2%
Jeep Cherokee	$39,094	$36,695	$2,399	6.1%
Audi Q4 e-tron	$58,712	$55,193	$3,519	6.0%
Maserati Levante	$88,525	$82,938	$5,587	6.0%
MINI Hardtop	$35,104	$33,106	$1,998	5.7%
Toyota bZ4X	$48,479	$45,737	$2,742	5.7%
Jeep Renegade	$33,639	$31,818	$1,821	5.5%
Nissan Frontier	$39,534	$37,381	$2,153	5.4%
Ford Mustang	$40,811	$38,579	$2,232	5.3%
Mercedes EQS	$117,392	$111,078	$6,314	5.2%
Volvo S90	$62,638	$59,501	$3,137	5.2%
Volvo S90 Recharge	$74,602	$70,866	$3,736	5.2%
Volvo V90 Cross Country	$66,290	$62,970	$3,320	5.2%
Volvo XC90	$58,228	$55,087	$3,141	5.1%
Jeep Gladiator	$45,475	$43,086	$2,389	5.0%
Nissan LEAF	$36,072	$34,279	$1,793	5.0%
BMW i7	$121,739	$116,043	$5,696	4.8%
Cadillac XT5	$42,946	$40,767	$2,179	4.8%
Nissan Rogue	$33,924	$32,294	$1,630	4.7%
Ford Mustang	$49,456	$47,136	$2,320	4.6%
Jaguar E-Pace	$51,044	$48,834	$2,210	4.5%
Kia Sorento	$53,675	$51,357	$2,318	4.5%
Ram 2500	$54,109	$51,599	$2,510	4.4%
Ram 1500 Classic	$35,093	$33,495	$1,598	4.3%
Toyota RAV4 Prime	$48,460	$46,479	$1,981	4.3%
BMW i4	$57,340	$54,909	$2,431	4.2%
Subaru Solterra	$45,989	$44,044	$1,945	4.2%
Volvo XC40	$43,458	$41,495	$1,963	4.2%
Audi S8	$122,203	$117,273	$4,930	4.1%
Cadillac XT4	$38,865	$37,195	$1,670	4.1%

Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...

Best Rebates, Incentives, and Lease Deals
Latest Car Buying Scams and Tricks
The Best & Worst Time to Buy a Car
Which Cars You Should Avoid

About The Author

Gregg Fidan is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.

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