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The 2024 Tesla Model S currently estimates around $60,000 in good condition, with market guides ranging from about $58,943 to $60,379 and private-party/trade-in figures around $63,200 to $63,600 depending on trim and condition. New pricing for the 2024 Model S started at $76,630, so the model has already lost roughly $12,000 to $18,000 from its original sticker in the current market.

Value Summary

Current estimated value: about $60,000. Total depreciation from new: about 21% to 22% versus the original $76,630 MSRP. Depreciation rate: roughly 10.8% per year on a straight-line basis from MSRP to today’s value estimate, though real-world depreciation is not linear.

Depreciation Curve Analysis

The Model S depreciation curve has been steep early and then somewhat less severe after the initial drop. KBB reports a 2024 Model S down $12,130, or 15%, in the last two years, while iSeeCars estimates a new Model S loses 62.1% of value after five years, leaving about 37.9% of MSRP. That means the heaviest value loss typically occurs in the first 3 to 5 years, after which the curve begins to flatten.

The steepest depreciation period for the Model S is usually the first three years, when new-technology pricing, incentives, and rapid feature updates compress used values fastest. After year five, the decline often slows, with battery health and condition becoming more important than age alone.

Value Retention Factors

The Model S holds value better than many luxury sedans when demand is strong, but it can also lose value quickly when Tesla adjusts new-car pricing or when broader EV demand softens. Mileage has a major effect: lower-mileage examples near the current market average can sit in the mid-$60,000 range, while higher-mileage cars move into much lower brackets.

Condition matters as much as mileage. Clean history, strong battery health, recent tires, and well-documented maintenance support stronger pricing, while accident history, worn interiors, and suspension or wheel damage weaken it. Demand is helped by the Model S nameplate, long range, and performance credentials, but it is pressured by frequent refreshes, fast-moving technology, and a crowded EV luxury segment.

Future Value Projections

Using current pricing and long-run depreciation patterns, the 2024 Model S could land around $54,000 to $57,000 in one year, about $43,000 to $47,000 in three years, and about $34,000 to $39,000 in five years, assuming average mileage and normal condition retention. These projections are consistent with the broader five-year resale pattern showing roughly 38% to 45% of original value retained by many Model S examples.

The best time to sell is usually before the next major pricing reset or major model refresh, because that is when used supply and price pressure are most favorable to the owner. For a 2024 Model S, the strongest resale window is often between years 2 and 4, before the car crosses into the deeper five-year depreciation band.

Comparison to Competitors

Against other luxury EVs, the Model S is not a standout for value retention; five-year depreciation of about 62.1% is steep for a premium flagship sedan. If value retention matters most, buyers often look toward models with slower MSRP volatility, broader used demand, and more predictable pricing behavior, especially less frequently discounted luxury EVs.

For owners who prioritize resale value over performance or brand cachet, the best strategy is usually to buy used, keep mileage modest, and sell before the car reaches the heavier five-year depreciation zone.