Have you ever wondered, when shopping for a new car, why some models seem never to be in stock? Or why they carry heavy dealer markups? It doesn’t take much imagination to see the power of supply and (great) demand at work here — popular models just don’t stick around long. Auto data powerhouse iSeeCars’ latest study determined that some new vehicles sell considerably faster than others, which could explain the inventory issues you face in finding the new car you want.
The study found that the average new car now sells 25.7 percent slower than a year ago, and all electric vehicles (including used ones) take around twice as long to move as they did last year. iSeeCars’ executive analyst, Karl Brauer, said that buyers are tired of high prices and tight inventory, noting, “Used cars were initially driven up by a lack of new car inventory. Now there are plenty of new cars on dealer lots, but consumers aren’t rushing out to buy them. The new car average time-to-sale is down by more than 25 percent, even as used cars are selling 6.1 percent faster. This shows buyers are continuing to seek value in the used car market despite a wide range of new car options.”
The list of new vehicles that sold the fastest over the last year includes the following:
- Toyota Grand Highlander Hybrid: 9.2 days on the market
- Land Rover Range Rover: 10.4 days
- Toyota Grand Highlander: 10.7 days
- GMC Yukon: 19.7 days
- Lexus NX 350h: 19.7 days
- Kia Forte: 21 days
- Subaru Crosstrek: 21.8 days
- BMW X1: 22.1 days
- Toyota Corolla: 22.6 days
- Toyota Sienna: 22.9 days
iSeeCars split new EV sales out of the main vehicle population to find the 10 fastest-selling models:
- Chevrolet Bolt EUV: 29.1 days
- BMW i4: 30.5 days
- Hyundai Ioniq 5: 47.6 days
- Audi Q8 e-tron: 48.5 days
- Mercedes-Benz EQE: 49.8 days
- Ford Mustang Mach-E: 50.4 days
- VW ID.4: 52 days
- Toyota bZ4X: 53.5 days
Even the fastest-selling electric models sell far slower than the hottest gas models, and Brauer attributes the difference to the rising number of models on sale. “There are far more new EVs to choose from today than there were a year ago, but this has rapidly elevated competition between electric vehicles, making it more challenging for each model to find a buyer.”
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