Recently, used cars haven’t been the money-saving alternatives to new models they used to be, as dips in new vehicle inventory and delays have made pre-owned vehicles a hot commodity. Used electric vehicles and hybrids are selling slower than they were a year ago, but some have joined the list of the fastest-selling used vehicles in October, recently released by iSeeCars.
Used vehicles took an average of 49.2 days to sell in October, much faster than the 54.9 days seen in October 2022. Breaking out EVs and hybrids paints a different picture, however, as electrics took 52.4 days and hybrids 46.7 days to sell. Both were significantly worse than the averages in 2022, which were 37.5 and 34.3 days, respectively.
Despite that, three hybrids and one EV hit the list of fastest-selling used models. The top 10 include:
- BMW X5 Hybrid: 26.8 days
- Toyota Highlander Hybrid: 29
- Cadillac XT6 30.1
- Lexus NX 350: 31.8
- Toyota GR Supra: 31.8
- Hyundai Elantra Hybrid: 31.8
- Porsche 718 Boxster: 32.4
- Cadillac CT5: 33.3
- BMW M2: 34.4
- Rivian R1T: 35.5
iSeeCars’ executive analyst Karl Brauer said that some buyers are in the sweet spot of avoiding the effects of inflation and higher interest rates, which is why we see performance cars like the BMW M2 and Boxster on the list. At the same time, many are looking to save money on fuel with more efficient hybrids.
While some EVs, including the Rivian R1T, Chevy Bolt, and Tesla Model 3, are selling quickly, others are not. The Kia EV6, Ford F-150 Lightning, and Polestar 2 made the list of slowest-selling vehicles, with the Kia and Ford taking two or more times the average number of days to sell. Some gas vehicles also took forever to move, including the expensive Maserati Quattroporte, which took a whopping 137.8 days to sell, almost three times the average for used cars.
