Considering its price and size, the Model S was compared to flagship sedans of traditional automakers, so it was placed head to head with the Mercedes-Benz S-Class, the Lexus LS460, Porsche’s Panamera, the BMW 7 Series, Audi’s A8, and the Jaguar XJ.
The British sedan had the most pronounced depreciation from the pack, while the Lexus LS460 was the best-ranked car with an internal combustion engine. The Mercedes-Benz ranked higher than the Porsche Panamera, even though the two models evened out their differences when owners drove them for more than 60,000 miles.
It is important to note that all traditional sedans were very close to each other in the first 10,000 miles, and the difference in depreciation started to appear after they drove over 20,000 miles. So keep that in mind if you aspire to play with statistics and a luxury sedan.
At the same time, the Tesla Model S had a lower depreciation from the moment all the cars reached 10,000 miles. When the highest depreciating luxury saloon reached a 35% decline from list price and had driven 40,000 miles, the Tesla Model S was at 23% of its list price with the same number of miles on its odometer.
Eventually, the Model S reached the same level of depreciation between 60,000 and 70,000 miles, when the worst offender in depreciation was between 47 and 52 percent of its list price.
The other electric vehicles available on the market were not compared with the Tesla Model S per se, as the makers of the study preferred to compare their percentile drops in resale value.
The Toyota Corolla was best at holding its value from day one to 100,000 miles, while BMW i3, Chevrolet Volt, and Nissan Leaf lost the highest percentage of value as the odometer’s value increased.