This study investigates the influence of the elasto-plastic properties of automotive steel sheets on the denting behavior and suggests a constitutive modeling approach for reliable dent analysis. The stress–strain behaviors of three kinds of steel sheets were measured in uniaxial tension, in-plane biaxial tension and forward-reverse simple shear tests. Advanced constitutive models were employed to capture the plastic anisotropy, reverse loading characteristics such as the Bauschinger effect, and elastic modulus degradation. In particular, the biaxial elastic modulus and its degradation behavior were measured and implemented in the constitutive model. The suggested model significantly improved the prediction of dents compared to the conventional model in terms of the load-displacement curve. Sensitivity studies on the constitutive model demonstrated that mainly plastic anisotropy and elastic behavior of a material influence the panel stiffness, whereas the reverse loading behavior strongly affects the permanent dent depth.