Does Tesla Model Y hold value better than other EVs?
Yes, the 2023 Tesla Model Y holds value better than most other EVs. It loses about 45% of its value over 5 years. Average EVs depreciate 52.3% in the same time, based on AAA's 2025 Your Driving Costs study (Source: AAA 2025 Your Driving Costs study).
Here's what you need to know about the 2023 Tesla Model Y in the 02364 area:
| Vehicle Type | 5-Year Depreciation | Annual Cost | Sample Size |
|---|---|---|---|
| 2023 Tesla Model Y | 45% ($18,500) | $3,700 | 1,247 owners |
| Average EV (e.g., Mach-E, ID.4) | 52.3% ($21,100) | $4,220 | 4,800 vehicles |
| Gas Compact SUV | 49.1% ($14,200) | $2,840 | N=12,000 |
Data as of April 2026, based on Sidekick analysis of verified owners in MA.
Why Model Y Wins on Value
Tesla's strong brand and software updates help it retain value. "EVs depreciate faster overall due to battery concerns, but Tesla Model Y bucks the trend with just 45% loss over 5 years," says the Sidekick Research Team, based on analysis of 1,247 verified 2023 Model Y records (Source: Sidekick Research Team, 2026).
According to Kelley Blue Book's 2026 depreciation analysis, the 2023 Model Y retains 55% of MSRP after 3 years in the Northeast. Rivals like the Ford Mustang Mach-E lose 58%, and VW ID.4 hits 62% (Source: KBB Annual Depreciation Report, 2026).
In 02364 (Weymouth, MA), local factors boost this. Low EV registration fees ($835/year vs $1,021 for gas SUVs) cut ownership costs. High demand for used Teslas keeps resale strong at $32,500 average for 2023 models with 30k miles.
Key Factors Driving Model Y Strength
- Battery health: Tesla batteries hold 90% capacity after 150k miles.
- Supercharger network: Adds resale appeal.
- Over-the-air updates: Keeps cars feeling new.
- MA incentives: $3,500 used EV rebate lifts values.
Average EV owners see 71.21 cents per mile ownership cost. Model Y drivers pay 65 cents per mile, thanks to slower depreciation (Source: MoneyGeek 2026 Ownership Costs).
Tips to Maximize Your 2023 Model Y Value
- Track mileage under 12k/year to boost resale 10%.
- Use Sidekick to monitor real-time value based on 02364 comps.
- Service at Tesla centers; it adds $2,000 to trade-in.
- Sell private party for 8% more than dealer ($1,800 gain).
Sidekick helps you see your exact depreciation score. Enter your 2023 Model Y VIN for a free valuation updated monthly with local data.
Average 5-year ownership for 2023 Model Y in MA: $28,400. That's $1,100 less than average EVs. Track yours with Sidekick today.