Nissan Leaf Depreciation 2025 Update (US Market)

Introduction

The Nissan Leaf, launched in 2010 as a 2011 model, marked a significant milestone as one of the first mass-market electric vehicles (EVs) in the United States. Recognized for its affordability and zero-emission performance, the Leaf earned accolades such as the 2011 European Car of the Year and the 2011 World Car of the Year

For potential buyers, understanding the Leaf’s depreciation is essential to assess its long-term value, especially in a rapidly evolving EV market. This comprehensive analysis explores the depreciation of the Nissan Leaf’s base trim—SV for 2011-2012 and S for 2013-2025—from its debut to 2025, focusing exclusively on U.S. data. We examine year-on-year trends, retention percentages, and historical used prices. Some data is sourced from automotive resources, including Kelley Blue Book, Cars.com, and Nissan USA, ensuring accuracy and reliability.

Trim Selection Rationale

To provide a consistent analysis across model years, we focus on the base trim: the SV trim for 2011 and 2012, and the S trim from 2013 to 2025. This choice is based on the assumption that the base trim, being the most affordable, is likely the most purchased, aligning with general automotive market trends where cost-effective options dominate sales. Although specific sales data by trim level is not publicly available, reviews from Edmunds and Nissan USA highlight the base trim’s affordability, supporting its selection. For 2011 and 2012, the SV was the entry-level trim, while the S trim became the base model in 2013, offering a lower price point to broaden market appeal (Green Car Congress).

Depreciation Data

The following table presents the MSRP, used price in 2025, vehicle age, and retention percentage for each model year of the Nissan Leaf base trim, providing a clear snapshot of depreciation trends:

Model Year	Trim	MSRP (USD)	Used Price 2025 (USD)	Age (Years)	Retention %
2011	SV	32,780	2,563	14	7.82
2012	SV	35,200	2,717	13	7.72
2013	S	28,800	2,221	12	7.71
2014	S	28,980	2,853	11	9.84
2015	S	29,010	3,059	10	10.54
2016	S	30,680	3,245	9	10.58
2017	S	30,680	4,267	8	13.91
2018	S	29,990	7,083	7	23.62
2019	S	29,990	7,815	6	26.06
2020	S	31,600	9,109	5	28.82
2021	S	32,620	10,238	4	31.39
2022	S	27,400	13,078	3	47.73
2023	S	28,040	14,769	2	52.67
2024	S	29,280	26,680	1	91.12
2025	S	28,140	27,148	0	96.48

Sources: Kelley Blue Book, Cars.com, Nissan USA

The data reveals significant depreciation for older models, with 2011-2013 models retaining less than 10% of their original value by 2025. Newer models, particularly from 2023-2025, show much higher retention, reflecting improvements in battery technology and sustained demand for EVs.

Year-on-Year Trends

The Nissan Leaf’s MSRP and used prices reflect market dynamics, technological advancements, and competitive pressures over the years:

2011-2012 (SV Trim): The MSRP rose from $32,780 to $35,200, likely due to the Leaf’s early market positioning as a premium EV with limited competition (Cars.com 2011). Used prices in 2025 are low ($2,563-$2,717), indicating significant depreciation over 13-14 years due to limited range and battery degradation.
2013: The introduction of the S trim at $28,800, an 18% reduction from the 2012 SV’s $35,200, made the Leaf more accessible, as noted by Green Car Congress. The 2025 used price of $2,221 reflects the lowest retention percentage (7.71%), likely due to market saturation and technological obsolescence.
2014-2017: MSRP remained stable, ranging from $28,980 to $30,680, with minor increases for features like improved chargers and regenerative braking systems (Edmunds 2013). Used prices increase gradually, with 2017 models retaining 13.91% ($4,267), indicating a slight improvement in value retention.
2018-2019: The second-generation Leaf, launched in 2018, maintained a consistent MSRP of $29,990, benefiting from a 40 kWh battery and an EPA-rated range of 151 miles (Nissan Leaf – Wikipedia). Used prices in 2025 ($7,083-$7,815) show a significant jump, reflecting improved range and technology.
2020-2021: MSRP increased to $31,600-$32,620, driven by enhancements like larger batteries and advanced safety features. Used prices ($9,109-$10,238) indicate better retention (28.82%-31.39%) due to newer technology and growing EV demand.
2022: A notable MSRP reduction to $27,400, as reported by Nissan News, aimed to boost affordability. The used price of $13,078 reflects strong retention (47.73%) for a three-year-old model.
2023-2024: MSRP stabilized around $28,040-$29,280, with used prices ($14,769-$26,680) showing high retention (52.67%-91.12%) due to recent model years and sustained EV popularity.
2025: The Fair Purchase Price of $27,148, slightly below the MSRP of $28,140, reflects typical new-car discounts, as per Kelley Blue Book.

Bar Chart reflecting Nissan Leaf Depreciation from 2011 to 2025 including Used Car vs New Price for each year.

The bar chart above visually compares MSRP and 2025 used prices, highlighting the significant depreciation for older models and high retention for newer ones.

Retention Percentage Analysis

Retention percentage, calculated as (used price in 2025 / MSRP) * 100%, provides insight into how well the Nissan Leaf holds its value over time. The line graph above illustrates this trend, showing a steep decline in the first few years that stabilizes as the vehicle ages:

New (0 years): The 2025 model retains 96.48% of its value, indicating minimal immediate depreciation, typical for new vehicles (Kelley Blue Book).
1-3 years: Retention drops sharply to 91.12% (2024), 52.67% (2023), and 47.73% (2022), reflecting rapid initial value loss due to market dynamics and technological advancements.
4-6 years: Retention stabilizes around 26-31% for 2019-2021 models, suggesting a slower depreciation rate as vehicles age.
7-14 years: Retention falls to 7-24% for 2011-2017 models, with older models retaining minimal value due to battery degradation and outdated technology.

This pattern aligns with typical vehicle depreciation, where the steepest value loss occurs early on. For the Leaf, factors like battery health and competition from newer EVs with longer ranges significantly influence retention, as discussed by Recurrent Auto.

General Depreciation Schedule

Based on the retention percentages, we can approximate a general depreciation schedule for the Nissan Leaf base trim:

Year 1: ~9% depreciation (91% retention)
Year 2: ~47% depreciation (53% retention)
Year 3: ~52% depreciation (48% retention)
Year 5: ~71% depreciation (29% retention)
Year 10: ~90% depreciation (10% retention)
Year 14: ~92% depreciation (8% retention)

This schedule indicates that the Leaf loses approximately 40-50% of its value within the first three years, with depreciation slowing significantly after five years. Key factors include battery degradation, particularly in early models with air-cooled batteries, and competition from newer EVs with improved range and features, as noted by Car and Driver.

Historical Used Prices

While comprehensive historical used prices for each model year at every age are limited, Kelley Blue Book provides data for recent years. The following table shows examples for selected model years at different ages:

Model Year	Year	Age	Resale Value (USD)
2011	2022	11	4,774
2011	2023	12	3,667
2011	2024	13	2,970
2011	2025	14	2,563
2018	2022	4	17,488
2018	2023	5	10,995
2018	2024	6	9,234
2018	2025	7	7,083
2022	2023	1	18,233
2022	2024	2	13,422
2022	2025	3	13,078

For older models (2011-2017), historical used prices before 2022 are less accessible, but retention percentages can estimate values. For example, a 2011 model at age 5 (2016) likely retained ~29% of its MSRP, approximately $9,500, based on the 2020 model’s retention at age 5.

Comments on Retention Percentage vs. Age

The Nissan Leaf’s retention percentage reflects the unique challenges and dynamics of early EVs:

Rapid Initial Depreciation: The steep value loss in the first three years (from 96% to ~48%) is driven by rapid advancements in EV technology, such as longer ranges in newer models, and concerns about battery degradation in early Leafs, which use air-cooled batteries (Recurrent Auto).
Stabilization After Five Years: Retention stabilizes around 7-10% for models over 10 years old, indicating a baseline value for functional vehicles, appealing to budget-conscious buyers seeking affordable EVs.
Impact of Market Dynamics: The second-generation Leaf (2018-2025) shows improved retention due to enhanced range (up to 149 miles for the S trim) and features like Apple CarPlay and Android Auto (Nissan Leaf – Wikipedia). However, competition from newer EVs like the Tesla Model 3 and Hyundai Ioniq 6 impacts value, as noted by Car and Driver.
Battery Degradation: Early models (2011-2017) suffer from higher depreciation due to air-cooled batteries, which degrade faster in hot climates, reducing range and value. Newer models with improved battery management systems fare better (Recurrent Auto).

These factors highlight why the Leaf’s depreciation is more pronounced than that of some traditional vehicles, though its affordability makes it a compelling option for short commutes.

Conclusion

The Nissan Leaf’s depreciation trends underscore its evolution from an early EV pioneer to a more competitive player in a crowded market. Older models (2011-2017) retain minimal value—around 7-14% of their original MSRP—due to limited range and battery degradation concerns. In contrast, newer models (2018-2025) benefit from technological improvements, retaining 24-96% of their value, with the 2024 and 2025 models showing particularly strong retention. The rapid initial depreciation, especially in the first three years, is driven by advancements in EV technology and battery health concerns, but the rate slows significantly after five years, making older Leafs a budget-friendly option for urban drivers.

For prospective buyers, the Nissan Leaf base trim offers a cost-effective entry into EV ownership, particularly for those with short commutes and access to home charging. However, buyers should consider battery health, especially for older models, and compare the Leaf to newer EVs with longer ranges. The data and visuals provided here, sourced from Kelley Blue Book, Cars.com, and other reputable sources, offer a comprehensive guide to making informed purchasing decisions.