How a New Generation Affects Used Prices (2026)
What happens to a car's value when a new generation comes out?
When a new generation arrives, the last cars of the old one can lose years of value at once. The 2020 Cadillac Escalade keeps 30% of the same trim new, against 48% for a 2021: an 18-point step where a normal year costs about 6. Not every model falls: the 2021 Toyota Tundra and the 2023 Toyota Tacoma held their value.
cars · November 9, 2026
Value kept, first new-generation year vs. last old one
| Model | New generation | First new year keeps | Last old year keeps | Gap | Typical yearly drop |
|---|---|---|---|---|---|
| Cadillac Escalade | 2021 | 48% (2021) | 30% (2020) | 18 pts | 6 pts |
| Chevrolet Colorado | 2023 | 76% (2023) | 60% (2022) | 16 pts | 6 pts |
| GMC Yukon XL | 2021 | 49% (2021) | 36% (2020) | 13 pts | 6 pts |
| Honda Pilot | 2023 | 72% (2023) | 59% (2022) | 13 pts | 6 pts |
| GMC Yukon | 2021 | 51% (2021) | 38% (2020) | 12 pts | 6 pts |
| Ford Expedition | 2025 | 84% (2025) | 72% (2024) | 12 pts | 7 pts |
| GMC Canyon | 2023 | 74% (2023) | 62% (2022) | 12 pts | 6 pts |
| Chevrolet Tahoe | 2021 | 53% (2021) | 41% (2020) | 12 pts | 6 pts |
| Toyota Camry | 2025 | 88% (2025) | 78% (2024) | 10 pts | 7 pts |
| Toyota 4Runner | 2025 | 91% (2025) | 82% (2024) | 9 pts | 7 pts |
| Ford F-150 | 2021 | 56% (2021) | 47% (2020) | 9 pts | 6 pts |
| Honda CR-V | 2023 | 72% (2023) | 63% (2022) | 8 pts | 6 pts |
| Ford Ranger | 2024 | 80% (2024) | 72% (2023) | 8 pts | 7 pts |
| Honda Civic | 2022 | 80% (2022) | 72% (2021) | 8 pts | 4 pts |
| Subaru Forester | 2025 | 85% (2025) | 78% (2024) | 6 pts | 7 pts |
| Toyota Tacoma | 2024 | 82% (2024) | 79% (2023) | 4 pts | 7 pts |
| Toyota Tundra | 2022 | 64% (2022) | 68% (2021) | -4 pts | 4 pts |
Why the old generation drops
Buyers pay for the new design, features and technology, so the last year of the old body competes with the first year of the new one. When the redesign is big (the 2021 GM full-size SUVs, for example) the gap is large. When buyers liked the old one, or the new one had a rocky start, it can be small.
For a buyer, the last year of an old generation is often the cheapest way into a well-sorted car. For an owner, selling before the new generation arrives avoids the step down. See how fast the typical car loses value.
About the data
Gap: value kept by the last model year of the previous generation compared with the first model year of the new one, both against the same trim new. Typical yearly drop: the median model's loss between the same two ages.
We compared asking prices for cars listed for sale in the U.S. on November 9, 2026, one listing per car. "New" is the median asking price of new 2026 models. For each older model year we used cars with about 12,000 miles a year for their age (for example 27,000–45,000 miles for a 2023). We compared every trim with the same trim new and averaged the trims, weighted by the number of cars, so a shift in trim mix does not look like depreciation. Typical asking prices in the tables are the median of all trims at that age.
This is a snapshot of today's prices by age, not one car followed over time. A car you buy now can lose value faster or slower, especially if a new generation arrives. Asking prices are before negotiation, taxes and fees. New cars often sell below sticker, so the real first-year loss can be smaller than shown. We left out modified cars and prices that were clearly not a full asking price.
Questions
Does a new generation lower the value of the old one?
Often. In our data the 2020 Cadillac Escalade keeps 18 points less of its new price than a 2021, where a normal year costs about 6.
Should I buy the last year of a car's generation?
If you want the most car for the money, it is often a good buy: it can cost much less than the first year of the new generation for a similar age.