Does the Tesla Model X hold value better than other luxury EVs?
No, the 2023 Tesla Model X does not hold value better than other luxury EVs. It depreciates at about the same rate or worse. After five years, expect it to lose 60-67% of its value. This matches the 61.2% average for luxury electric midsize SUVs, according to iSeeCars' 2026 analysis (Source: iSeeCars Resale Value Report, 2026).
Here's what you need to know about the 2023 Tesla Model X depreciation:
| Timeframe | Depreciation Rate | Resale Value (from ~$100K MSRP) | Source |
|---|---|---|---|
| 3 years | 38.8-56% | $44,000-$61,700 | TopSpeed, iSeeCars |
| 5 years | 60.7-67% | $31,000-$38,900 | CarEdge, iSeeCars |
| 7 years | 73.8% | ~$26,500 | iSeeCars |
| 10 years | 79.8-82.1% | $18,000-$20,200 | TopSpeed, iSeeCars |
"The Model X loses 60.7% after five years, similar to its luxury EV peers," says the TopSpeed Research Team, based on analysis of Tesla model trends (Source: TopSpeed Tesla Depreciation Analysis, 2026).
Why the 2023 Model X Matches or Lags Other Luxury EVs
Luxury EVs like the Rivian R1S or Lucid Gravity face the same market pressures. Tesla price cuts on new models hit used values hard. In Austin's 78701 zip code, high demand for EVs helps a bit. But battery tech advances and more competition speed up depreciation. All SUVs lose value faster than sedans. Luxury electric midsize SUVs average 61.2% drop over five years. All SUVs average just 44.9%. The Model X sits right in the middle of luxury EVs.
CarEdge data shows a 2023 Model X at 59.86% depreciated now in good condition, with resale around $36,500 (N= verified 2023 models, 2026). Edmunds pegs five-year total loss at $41,263 for a Plaid model.
Factors That Affect Your 2023 Model X Value
- Mileage: Aim under 13,500 miles per year to keep value high.
- Condition: Clean interiors and PPF paint add 1-3% (EV Inventory, 2026).
- Options: Full Self-Driving adds up to $1,500 now.
- Location: In 78701, Tesla's strong market retains 2-5% more value than national average.
Tips to Maximize Your 2023 Model X Resale
- Track maintenance with Tesla app records.
- Sell before year 3-5 steep drop.
- Get a professional appraisal in Austin markets.
- Use Sidekick to check your vehicle's exact depreciation score based on local 78701 data from verified owners.
Sidekick pulls real-time owner data to predict your 2023 Model X resale. Enter your VIN for a free value estimate updated monthly. Owners in your area save $2,500 on average by timing sales right (Sidekick Research Team, analysis of 1,200 Texas EVs, Q1 2026).
Luxury EVs depreciate fast across the board. The Model X performs average, not better. Plan ahead to cut ownership costs.