Not The Ford Explorer: This Midsize SUV Has The Highest 5-Year Depreciation

From the moment you drive your shiny new car out of the dealership lot and onto the road, it will start to lose value. Even if you rigorously follow every car cleaning tip to keep it in top condition, it will accumulate chips and scratches as the miles stack up, and components will begin to wear out. By the time it reaches five years old, it will usually be worth much less than what you originally paid for it. According to iSeeCars' 2026 depreciation study, the average new midsize SUV can expect to lose 47% of its value over that time frame.

Some SUV models lose significantly more than average, but only one will shed more than 60% of its value over five years according to the study. That model is the Tesla Model X, which earns the unfortunate honor of being the highest depreciated midsize SUV on the market. It's also one of the worst depreciating SUVs in any category in percentage terms.

Data from iSeeCars estimates that the Model X will lose 61.2% of its value after its first half decade on the road, which is significantly more than the next-worst midsize SUVs, the Infiniti QX60 and Range Rover Sport. The latter models are each estimated to lose 58.3%, slightly more than the Land Rover Discovery, which loses an average of 57.9% of its sticker price. The Audi Q7 rounds out the top five poorest performers, losing 57.2% over the same period.

It's easy to assume that the Model X depreciates so quickly simply because it's an EV. That's partly true, with iSeeCars finding that EVs depreciated faster than all types of combustion vehicles and were less in demand with used car buyers. However, it doesn't tell the full story, since four of the five fastest depreciating SUVs are gas-powered.

Instead, the Model X's rapid value loss is likely down to a mix of factors. As well as being all-electric, it's also considered a luxury vehicle, and they generally depreciate faster than economy cars. All five of the fastest depreciating midsize SUVs fit into the luxury category. However, the less luxurious Model Y suffers similarly heavy depreciation, which points to an issue with Teslas in particular losing value fast.

That value loss can potentially be explained by the frequent price changes that have affected both the Model X and Model Y. The MSRP for the Model X has been regularly cut and then increased again through its production life, leaving buyers who bought the car during one of the peak price periods at a significant disadvantage when it comes to resale. In early April 2026, Tesla announced that it was discontinuing the Model X and boosted the price of remaining new examples, but for now, it remains unclear what effect that will have on the resale value of older Model X SUVs.