Used car prices and supplies have had a rollercoaster ride over the last few years, but the picture finally appears to be improving as new car inventory grows and supply chain issues subside. Despite that, some used models sell much faster than others, and iSeeCars’ latest study showed that EVs dominate the list of slowest-selling used vehicles.
The good news for used car dealers is that gas vehicles are selling faster in 2023 than the year before, at 49.2 days to sell on average versus almost 55 days in 2022. Hybrids and EVs have fared worse so far this year, selling at an average of 46.7 and 52.4 days, respectively. Both figures are significantly higher than 2022’s days to sell, especially for EVs, which took just 37.5 days in 2022.
The list of slowest-selling used cars in October 2023 includes:
- Maserati Quattroporte: 137.8 days
- Kia EV6: 95.9
- Jeep Grand Cherokee: 93.4
- Land Rover Discovery Sport: 83.1
- Audi A5: 83
- Maserati Ghibli: 82.4
- Mercedes-Benz C-Class Class Convertible: 80.7
- Ford F-150 Lightning: 78.4
- Infiniti Q60: 75.6
- Polestar 2: 73.4
iSeeCars’ executive analyst Karl Brauer pointed out that most of the slow-selling cars are premium models or EVs. The Maserati and Kia take two or more times the average days to sell, while the Grand Cherokee takes 1.9 times the average. He also noted Ford’s F-150 Lightning, which is one of only two electric trucks on sale and is selling much slower than its gas-powered counterparts.
While hybrids are generally selling slower than in 2022, some models are performing quite well, including the BMW X5 hybrid and Toyota Highlander Hybrid. Similarly, many EVs are taking much longer than the average to sell, but Tesla’s vehicles and the affordable Chevrolet Bolt are moving quickly. For Tesla, that likely comes down to price cuts and the fact that many of its cars are eligible for federal tax credits.
