LOS ANGELES — Used car shoppers are finally getting some relief, following an unprecedented skyrocketing of prices during the pandemic. Prices for pre-owned vehicles fell 8.7% between February 2022 and February 2023, according to a new analysis from iSeeCars.com.

The Infiniti QX80 topped the list of vehicles that have seen the greatest year-over-year price drops. Last month, its average price was $41,094 — a 22.3% decline from the year earlier. Rounding out the top five were the Nissan Armada (down 20.3%), Land Rover Discovery (down 19.9%), Tesla Model 3 (down 19.3%) and Land Rover Range Rover Velar (down 19.2%). 

“The used car market has fragmented over the past year,” iSeeCars executive analyst Karl Brauer said in a statement. “While prices are still higher than before the pandemic, they have consistently dropped over the past year and at an accelerated rate in the past six months.”

Last September, used car prices were up 7.8% compared with a year earlier, but they have been declining ever since. The average price of a one-to-five-year-old used car last September was $33,368. Last month, it was $31,815.

The vehicles that have lost the most value are electric, according to the iSeeCars analysis. Over the past year, used EV prices have declined an average of 13.9%. Hybrids, however, have declined the least, losing 2.1% of their value over the last year.

Some used models, however, have seen year-over-year price increases. The Porsche 911 topped the list of used vehicles that have seen the largest price gains. In February, its average price was $190,770 — a 13% increase from the year earlier. Rounding out the top five were the Hyundai Sonata Hybrid (up 6.8%), Chevrolet Bolt EV (up 5.9%), Nissan Leaf (up 5.4%) and MINI Clubman (up 5.1%).