What are the cars that hold their value best in 2023?

Some cars hold their value better than others, meaning you’ll get a greater percentage of the its original value back when you sell your car.

How you maintain and drive your car will have an impact on its resale value. Cars with limited service history and high mileage will depreciate faster for example, however there are other factors that come into play.

The desirability of your new car will determine how quickly it depreciates. Cars with a good reputation for reliability and quality will likely hold their value because there will always be a strong demand for them on the second-hand market.

Fuel-efficient cars with low tax rates also tend to depreciate less because they are cheaper to run.

With the expansion of the London Ultra Low Emission Zone (ULEZ), cars that are not Euro 6 compliant have seen a huge drop in value as people living and working in London don’t want them anymore.

Petrol or diesel cars made from around 2014 meet Euro 6 emission standards, but vehicles older than this typically incur a fee for entering a low-emission zone. In London, the Ultra-Low Emissions Zone was expanded on 29 August 2023 to cover almost all areas inside the M25. You can check if your car is compliant using carwow's ULEZ checker.

Top 10 car makes for holding their value [1]

Manufacturers that make desirable, reliable and economical cars will often be in demand on the used market. Here are the top ten car makes for holding their value from May to October 2023 according to carwow data.

10. Jaguar

Taking the 10th spot is Jaguar, renowned for their luxurious design and powerful performance. Carwow data shows that models from this brand showed an average value loss of 6.4% over the past six months.

9. Lexus

Lexus comes in next, known for crafting high-quality vehicles with advanced technology and reliability. This brand has experienced an average depreciation of 3.56% over six months, positioning them ahead of Jaguar for value retention.

8. Dacia

Next, is Dacia, known for its focus on practicality and affordability. Displaying admirable resilience, Dacia demonstrated a modest depreciation rate of 2.41%.

7. Audi

In 7th place is Audi, which has maintained a strong foothold on the market with a mere 1.78% loss in value. Their commitment to performance and innovation has contributed to its relatively minimal depreciation rate in the used car sector.

6. Mercedes

Mercedes models are holding their value well currently as luxury executive cars are always in high demand. With a depreciation rate of only 0.97% over the last six months, Mercedes demonstrates consistent appeal in the market.

5. Volvo

At the halfway mark, Volvo stands out with a trend of increased value. The brand showcased an average increase of 1.05% these brands demonstrate an exceptional trend with an increase in value.

4. BMW

BMW, recognised for its dynamic performance and engineering, significantly increased in value by 1.39%, emphasising its consistent ability to maintain or even augment its value in the competitive automotive landscape.

3. Honda

Reliability is the first thing that comes to mind when you think of Honda, and it’s this reputation that is keeping used values high. Carwow data shows that, over the past six months, Honda models saw a 1.69% loss in value.

2. Porsche

Porsche, renowned for its iconic sports cars and commitment to precision engineering, has seen a substantial increase in value by 1.88%. This surge in value solidifies Porsche’s allure among enthusiasts and collectors, enhancing its position in the market.

1. MG

Topping the list is MG, experiencing an outstanding surge in value with an increase of 1.98%. This notable appreciation reflects MG’s affordability and style.

When is the best time to sell?

Choosing a platform like carwow, a leading marketplace for car selling, ensures your vehicle garners competitive offers from dealers nationwide and not just locally. This approach guarantees that you obtain the genuine value your car deserves, supported by carwow’s expertise and nationwide network.

Paul Barker, Managing Editor at carwow, said: “For those considering selling their car, this data emphasises the need to stay well-informed about the dynamics specific to their car’s brand. Despite a broader market downturn, certain brands of used cars such as Volvo, Mercedes and Honda, present a unique opportunity for sellers to maximise their returns at the moment.

“Of course, the price of the car you are selling will depend on its mileage, age, body type and trim level. But, for those drivers looking to sell their car in the near-future, this shows the importance of knowing the value of the car brand too.

“In a market marked by change and fluctuation, strategic timing is key for sellers. Much like when buying a car, it’s always worth shopping around for the best price. When selling, it’s about more than accepting the first offer. It’s crucial to obtain an expert car valuation from an impartial source.”

About this data:

[1] All car price valuations were collected through carwow’s internal Sell My Car data from November 2021 to October 2023. To determine the average price value for each car make, the mean value was calculated for each model listed, and average valuations were split into datasets comparing 24, 12, 6 and 3 months. Price variances were determined by comparing the average price valuations for these car makes over the specified period, and percentage differences were subsequently derived from these variations. The top 10 used car makes were isolated from the six month dataset.