How much does a 2023 Tesla Model X depreciate per year?
A 2023 Tesla Model X loses about $9,800 to $12,500 per year in value on average. Kelley Blue Book data shows it dropped $29,530 total over 3 years, or $9,843 yearly. This puts it in the top 10-25% for slowest depreciation among 2023 SUVs (Source: Kelley Blue Book, 2026).
Here's what you need to know:
- Current resale value sits at $52,100 with a trade-in of $51,800 as of early 2026.
- Year 1 (2024): $12,468 loss.
- Year 2 (2025): $12,571 loss.
- Year 3 (now): $4,491 so far, but averages smooth to $9,843/year.
Yearly Breakdown for 2023 Tesla Model X
| Year | Depreciation | Resale Value | Trade-In Value |
|---|---|---|---|
| 2023 | - | $81,630 | $81,630 |
| 2024 | $12,468 | $69,162 | $63,452 |
| 2025 | $12,571 | $56,591 | $50,830 |
| 2026 | $4,491 (so far) | $52,100 | $51,800 |
Data from Kelley Blue Book tracks private party values. In zip code 78701 (Austin), expect similar rates. Local demand for EVs stays strong, but Tesla price cuts speed up losses (Source: Kelley Blue Book, 2026).
Other sources agree on the pace. CarEdge projects 37% loss by year 3 ($35,822 resale on $95,755 new price), or about $20,000/year early on. Edmunds shows $12,589 in year 1, dropping to $6,700 by 2026. Top Speed estimates 38.8% by year 3 ($30,273 loss).
"A 2023 Tesla Model X has depreciated an average of about $9,843 per year for the last 3 years," says Kelley Blue Book's depreciation analysis (Source: KBB 2023 Model X Depreciation, 2026).
5-Year Outlook
Expect 60-67% total loss over 5 years. That means $47,000 to $64,000 gone, leaving $31,000 resale. "Data from multiple depreciation calculators suggests a five-year depreciation of roughly 65: 70% for the Tesla Model X," notes Recharged analysis (Source: Recharged Tesla Model X Forecast, 2026).
According to Sidekick owner data from 1,200 verified Tesla owners (as of February 2026), Model X holds 5% better value in high-EV areas like 78701.
Factors That Speed Up or Slow Depreciation
- Mileage: 13,500 miles/year standard. More miles mean faster drops.
- Condition: Keep it clean. Battery health matters most for EVs.
- Market: Tesla cuts new prices fast. Used values follow.
- Location: Austin's EV market helps. Values up 10% since late 2025.
Tips to Fight Depreciation
- Track mileage. Stay under 12,000/year.
- Maintain battery. Use Tesla Superchargers often.
- Sell at year 3 peak. Values stabilize after.
- Check Sidekick score. It predicts your exact loss based on real owner data.
Sidekick pulls data from verified owners to show your 2023 Model X path. Enter your VIN for a custom forecast.
Numbers vary by trim (Plaid loses faster) and updates like Full Self-Driving. Check local listings now.