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2023 used truck pricing steady, Ridgeline, Titan XD, F-150 have biggest drop


A new iSeeCars study reveals the 2023 used truck pricing is steady for most brands except for the Honda Ridgeline, Nissan Titan XD and Ford F-150 have the biggest drop in pricing year over year.

The study “analyzed over 1.8 million 1- to 5-year-old used cars from June 2022 and June 2023 to identify which models have the largest price drops,” according to the website.

While the study showed used car pricing has stabilized, it also showed it is a great time to look for a truck. For example, electric vehicle pricing fell by nearly 30 percent.  Plus, many luxury vehicles as well as hybrid and PHEV vehicles saw a drop as well.

2023 used truck pricing

What about those trucks? Well, they held their pricing much better than the national average as the chart below shows.

At the top of the chart, the Honda Ridgeline, Nissan Titan XD and Ford F-150 all have at least a $1k difference year over year.

The middle is filled with a mix of full-size trucks like the Chevy Silverado 1500, GMC Sierra 1500 and the non-XD version of the Nissan Titan.

At the bottom, the Ram 1500, Toyota Tundra and the Nissan Frontier all saw used truck pricing improve year over year. So much for the thinking of a vehicle as a depreciating asset.

ModelAvg Price June 2023% Price Difference from June 2022$ Price Difference from June 2022
Honda Ridgeline$34,617-4.1%-$1,469
Nissan Titan XD$39,204-3.6%-$1,454
Ford F-150$41,823-2.9%-$1,254
Chevrolet Colorado$31,812-2.9%-$946
Toyota Tacoma$37,300-2.5%-$973
Chevrolet Silverado 1500$41,001-2.4%-$992
Nissan Titan$38,020-2.0%-$795
GMC Sierra 1500$47,875-2.0%-$988
GMC Canyon$35,709-0.9%-$326
Ram 1500$43,3042.7%$1,137
Toyota Tundra$46,2863.0%$1,340
Nissan Frontier$30,0974.3%$1,248
Truck Average$41,138-1.0%-$430
National Overall Average$32,811-3.6%-$1,237
iSeeCars.com Data July 2023

The bottom line

Overall, trucks remain a top choice for people who want a vehicle that retains its value. Even though some of the used truck pricing showed trucks losing value more than expected, it was much better than others. For example, the study shows a Tesla Model 3 sedan had a price change loss of $16,258. With the average price of $37,023, that’s a pretty significant number.

Simply put, if you want to be a smart investor of your money when buying a vehicle, buy a truck. It will retain its value better than most everything else on the market.

Tim Esterdahl

Automotive Journalist Tim Esterdahl has been a lover of trucks and SUVs for years. He has covered the industry since 2011 and has pieces in many national magazines and newspapers. In his spare time, he is often found tinkering on his '62 C10 pickup, playing golf, going hunting and hanging out with his wife and kids in Nebraska.

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